Key Developments: Bank of Montreal (BMO)
61.32USD
21 May 2013
$0.63 (+1.04%)
$60.41
$60.68
$61.61
$60.49
468,059
494,743
$64.79
$50.95
Latest Key Developments (Source: Significant Developments)
Bank of Montreal Declares Dividend
Bank of Montreal announced that the Board of Directors declared a quarterly dividend of $0.74 per share on paid-up common shares of Bank of Montreal for the second quarter of fiscal year 2013, an increase of $0.02 from the previous quarter. The Board of Directors also declared dividends of: $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 $0.24375 a share on paid-up Class B Preferred Shares Series 25. The dividend on the common shares is payable on May 28, 2013, to shareholders of record on May 1, 2013. The dividends on the preferred shares are payable on May 27, 2013, to shareholders of record on May 1, 2013. Full Article
Bank of Montreal Declares Dividend
Bank of Montreal announced that the Board of Directors declared a quarterly dividend of $0.72 per share on paid-up common shares of Bank of Montreal for the first quarter of fiscal year 2013, unchanged from the previous quarter. The Board of Directors also declared dividends of: $0.33125 a share on paid-up Class B Preferred Shares Series 5; $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 $0.24375 a share on paid-up Class B Preferred Shares Series 25. The dividend on the common shares is payable on February 26, 2013, to shareholders of record on February 1, 2013. The dividends on the preferred shares are payable on February 25, 2013, to shareholders of record on February 1, 2013. Full Article
Moody's Warns May Downgrade Bank of Montreal And Other Canadian Banks-Reuters
Reuters reported that Moody's Investors Service warned on Friday it could cut its ratings on five top Canadian banks on concerns about a softening economy and volatile capital markets, a blow to a banking system named the soundest in the world four years in a row. But the outlook for the sector is no longer as rosy, Moody's said, because of the risks presented by the macroeconomic environment and a business mix that leans heavily on domestic mortgages and other consumer lending. The warning applies to long-term debt ratings for Toronto Dominion Bank, Bank of Nova Scotia, Bank of Montreal, Canadian Imperial Bank of Commerce and National Bank of Canada. It also applies to Caisse Centrale Desjardins, Canada's largest association of credit unions. The ratings agency said any cuts would likely be only one notch. The sector's ratings are still among the highest in the world. Full Article
Bank of Montreal To Cut 200 Jobs At U.S. Unit-Reuters
Reuters reported that Bank of Montreal will cut an additional 200 jobs in its U.S. division as part of the integration of Wisconsin lender Marshall & Illsley, which it bought in 2011 and it warned more cuts are on the way. He said the cuts will take place over the next five months, and will not be the last by the bank as it incorporates the new unit. Full Article
Bank of Montreal Increases Dividend
Bank of Montreal announced that the Board of Directors declared a quarterly dividend of $0.72 per share on paid-up common shares of Bank of Montreal for the fourth quarter of fiscal year 2012, an increase of $0.02 from the previous quarter. 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; $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 $0.24375 a share on paid-up Class B Preferred Shares Series 25. The dividend on the common shares is payable on November 28, 2012, to shareholders of record on November 1, 2012. The dividends on the preferred shares are payable on November 26, 2012, to shareholders of record on November 1, 2012. Full Article
Bank of Montreal Receives Bank Regulatory Approvals To Acquire Marshall & Ilsley Corporation
Bank of Montreal announced that it has received all key bank regulatory approvals required to complete its acquisition of Marshall & Ilsley Corporation. It is anticipated that the acquisition will close on July 5, 2011. In accordance with the terms of the merger agreement, M&I shareholders will receive 0.1257 of a Bank of Montreal common share in exchange for each share of M&I common stock they own, with fractional entitlements to Bank of Montreal common shares being paid in cash. Full Article
Bank of Montreal Can Acquire Marshall & Ilsley Corp-DJ
Dow Jones reported that according to the Federal Reserve, Bank of Montreal can acquire Marshall & Ilsley Corp., M&I Marshall & Ilsley Bank and its nonbanking subsidiaries. The Fed issued an order saying that Bank of Montreal can acquire Marshall & Ilsley Corporation of Milwaukee, and its two subsidiary banks, M&I Marshall & Ilsley Bank of Milwaukee, and M&I Bank of Mayville, Wisconsin. Bank of Montreal bought Marshall & Ilsley Corp. for $4.1 billion in December. Full Article
REFILE-Bank of Montreal says U.S. ambassador to become vice-chairman
TORONTO, May 21 - U.S. Ambassador to Canada David Jacobson will join Bank of Montreal as vice-chairman after he leaves his diplomatic post and will work in the bank's U.S. division, BMO said on Tuesday.
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