* Bank last raised payout in 2007
* Takes cautious approach with Basel III standards looming
* Rival Canadian banks have raised payouts
TORONTO, Sept 14 Bank of Montreal (BMO.TO), the
only Canadian bank that has yet to raise its shareholder
dividend in the wake of the financial crisis, has no plans to
raise the payout in the near term, the bank's chief financial
officer said on Wednesday.
Speaking at the Barclays Capital Global Financial Services
Conference in New York, CFO Tom Flynn said the bank planned to
be cautious in light of tighter bank capital standards that
will be phased in over the next several years.
"We want to make progress against the Basel III standards
before we increase the dividend," he said.
Canada's big banks managed to avoid dividend cuts during
the financial crisis, but they put increases on hold.
After emerging in strong shape, all but BMO have resumed
dividend hikes over the past few quarters.
The bank last raised its payout in August 2007.
(Reporting by Cameron French; editing by Peter Galloway)