December 07, 2010 06:58 ET
TORONTO, ONTARIO--(Marketwire - Dec. 7, 2010) - Bank of Montreal (TSX:BMO)(NYSE:BMO) today announced that the Board of Directors declared a quarterly dividend of $0.70 per share on paid-up common shares of Bank of Montreal for the first quarter of fiscal year 2011, unchanged from the previous quarter.
Common shareholders may elect to have their cash dividends reinvested in common shares of the bank in accordance with the bank's Shareholder Dividend Reinvestment and Share Purchase Plan. Under the Plan, the Board of Directors determines whether the common shares will be purchased on the secondary market or issued by the bank from treasury. At this time, the common shares purchased under the Plan will be issued from treasury without discount from the average market price of the common shares (as defined in the Plan).
For the current quarter, the Board of Directors also declared dividends of:
The dividend on the common shares is payable on February 28, 2011 to shareholders of record on February 1, 2011. The dividends on the preferred shares are payable on February 25, 2011 to shareholders of record on February 1, 2011.
The above-mentioned dividends on the common and preferred shares are designated as "eligible" dividends for the purposes of the Income Tax Act (Canada) and any similar provincial and territorial legislation.
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