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BMO Financial Group is the longest-running dividend-paying company in Canada. BMO’s policy is to pay out 45% to 55% of its earnings in dividends to shareholders over time.
 2008 Dividend Payment Dates
Dividends Paid in 2008
Eligible Dividend Designation
Dividends Paid in Prior Years
Dividend Policy and Restrictions
Common Share History
Shareholder Dividend Reinvestment and Share Purchase Plan
2008 Dividend Payment Dates
Subject to approval by the Board of Directors
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Common and Preferred Shares Record Dates
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Preferred Shares Payment Dates
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Common Shares Payment Dates
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February 1
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February 25
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February 28
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May 2
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May 26
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May 29
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August 1
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August 25
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August 28
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October 31
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November 25
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November 27
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Dividends Paid in 2008
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Issue , Class
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Dividends
Paid to
Shareholders
of Record on
Feb. 1, 2008
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Dividends
Paid to Shareholders
of Record on
May 2, 2008
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Common
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$0.70
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$0.70
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Preferred Class B Series 5
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$0.33125
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$0.33125
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Preferred Class B Series 6
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$0.296875
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$0.296875
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Preferred Class B Series 10
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U.S.$0.371875
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U.S.$0.371875
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| Preferred Class B Series 13 |
$0.28125
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$0.28125
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| Preferred Class B Series 14 |
$0.49983
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$0.328125
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Eligible Dividend Designation
For the purposes of the Income Tax Act (Canada) and any similar provincial and territorial legislation, BMO designates all dividends paid on both its common and preferred shares in the 2006 calendar year, and all dividends (including deemed dividends) paid thereafter, as “eligible dividends” unless BMO indicates otherwise.
Please consult with your own tax advisor for advice with respect to the income tax consequences to you of BMO designating dividends paid on its common and preferred shares as “eligible dividends”.
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Dividends Per Share Declared During Prior Years
| Issue , Class |
Ticker
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Shares Outstanding
at October 31, 2007
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2007
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2006
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2005
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2004
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2003
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Common
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BMO
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498,562,702
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$2.71
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$2.26
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$1.85
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$1.59
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$1.34
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Preferred Class B Series 3(a)
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BMO F
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—
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—
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—
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—
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$1.18
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$1.39
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Preferred Class B Series 4(b)
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BMO G
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—
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$0.99
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$1.20
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$1.20
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$1.20
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$1.20
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Preferred Class B Series 5(c)
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BMO H
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8,000,000
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$1.33
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$1.33
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$1.33
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$1.33
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$1.33
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Preferred Class B Series 6(c)
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BMO I
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10,000,000
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$1.19
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$1.19
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$1.19
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$1.19
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$1.19
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Preferred Class B Series 10(d)
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BMO V
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12,000,000
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US$1.49
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US$1.49
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US$1.49
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US$1.49
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US$1.49
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Preferred Class B Series 13(e)
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BMO J
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14,000,000
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$0.96
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—
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—
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—
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—
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Preferred Class B Series 14(e)
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BMO K
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10,000,000
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$0.50
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—
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—
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—
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—
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(a)The Class B Preferred Shares Series 3 were redeemed in September 2004.
(b) The Class B Preferred Shares Series 4 were redeemed in August 2007.
(c) The Class B Preferred Shares Series 5 were issued in February 1998 and the Class B Preferred Shares Series 6 were issued in May 1998.
(d) The Class B Preferred Shares Series 10 were issued in December 2001.
(e) The Class B Preferred Shares Series 13 were issued in January 2007 and the Class B Preferred Shares Series 14 were issued in September 2007.
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Dividend Policy and Regulatory Restrictions
Dividends are generally increased in line with long-term trends in earnings per share growth, while sufficient profits are retained to support anticipated business growth, fund strategic investments and provide continued support for depositors. BMO’s policy is to maintain a dividend payout ratio of 45% to 55%, over time.
We are prohibited from declaring dividends on our preferred or common shares when we are, or would be as a result of paying such a dividend, in contravention of the capital adequacy, liquidity or any other regulatory directives issued under the Bank Act. In addition, common share dividends cannot be paid unless all dividends declared and payable on our preferred shares have been paid or sufficient funds have been set aside to do so.
In addition, we have agreed that if BMO Capital Trust, one of our subsidiaries, fails to pay any required distribution on its capital trust securities, we will not declare dividends of any kind on any of our preferred or common shares.
Common Share History
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March 14, 2001
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100% Stock Dividend
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Equivalent to a 2-for-1 Stock Split
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March 20, 1993
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100% Stock Dividend
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Equivalent to a 2-for-1 Stock Split
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June 23, 1967
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Stock Split
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5-for-1 Stock Split
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Shareholder Dividend Reinvestment and Share Purchase Plan
Bank of Montreal offers a Shareholder Dividend Reinvestment and Share Purchase Plan (the “Plan”) to holders of eligible common and preferred shares of the Bank. To be eligible to participate in the Plan, you must be the holder of at least one share.
The Plan gives you the option to receive your dividends in cash or reinvest them in Bank common shares. The Plan also provides shareholders with a share purchase option whereby you may purchase up to $40,000 of Bank common shares in each 12-month period ending October 31.
There are no service charges or brokerage commissions payable for common shares acquired under the Plan.
To receive a copy of the Plan brochure and an enrollment form, please phone, write or email the Bank’s transfer agent:
Computershare Trust Company of Canada
100 University Street, 9th Floor
Toronto, ON M5J 2Y1
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1-800-340-5021 (Canada and U.S.)
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514-982-7800 (International)
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Fax:
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416-263-9394 or 1-800-453-0330
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Email:
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service@computershare.com |
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