Bank of Montreal Posts Drop In FQ1 Profit, Lifts Dividend
Bank of Montreal (NYSE: BMO) reported a drop in its fiscal first-quarter profit.
The bank lifted its quarterly dividend by 2.8% to 74 Canadian cents a share.
The bank's quarterly earnings fell to C$1.05 billion ($1.02 billion), or C$1.53 per share, from C$1.11 billion, or C$1.63 per share, in the year-ago period. On an adjusted basis, it earned C$1.52 per share, versus analysts' estimates of C$1.48 per share.
Bank of Montreal shares closed at $61.28 yesterday.
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.