Bank of Montreal Posts Drop In FQ1 Profit, Lifts Dividend

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Bank of Montreal
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.
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Posted In: EarningsNewsDividendsprofit
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