BMO Financial Group
TSX : BMO
NYSE : BMO

BMO Financial Group
BMO Bank of Montreal

BMO Bank of Montreal

May 25, 2011 07:09 ET

BMO Financial Group Declares Dividend

TORONTO, ONTARIO--(Marketwire - May 25, 2011) - 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 third 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:

  • $0.33125 a share on paid-up Class B Preferred Shares Series 5;
  • US$0.371875 a share on paid-up Class B Preferred Shares Series 10;
  • $0.28125 a share on paid-up Class B Preferred Shares Series 13;
  • $0.328125 a share on paid-up Class B Preferred Shares Series 14;
  • $0.3625 a share on paid-up Class B Preferred Shares Series 15;
  • $0.325 a share on paid-up Class B Preferred Shares Series 16;
  • $0.40625 a share on paid-up Class B Preferred Shares Series 18;
  • $0.40625 a share on paid-up Class B Preferred Shares Series 21;
  • $0.3375 a share on paid-up Class B Preferred Shares Series 23; and
  • an initial dividend of $0.44610 a share on paid-up Class B Preferred Shares Series 25

The dividend on the common shares is payable on August 26, 2011 to shareholders of record on August 2, 2011. The dividends on the preferred shares are payable on August 25, 2011 to shareholders of record on August 2, 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.

Contact Information