TORONTO Feb 26 Bank of Montreal
on Tuesday reported its quarterly profit eased as lower loan
recoveries at its U.S. retail bank offset higher wholesale
banking and wealth management profits.
However, Canada's fourth largest bank and a major player in
the U.S. Midwest, raised its quarterly dividend by 2.8 percent
to 74 Canadian cents per share.
The bank earned C$1.05 billion ($1.02 billion), or C$1.53 a
share, in the fiscal first quarter ended Jan 31. That compared
with a year-before profit of C$1.11 billion, or C$1.63 a share.
On an adjusted basis, the bank earned C$1.52 a share.
Analysts had expected C$1.48 a share, according to Thomson