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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.
 2010 Dividend Payment Dates
Dividends Paid in 2009
Eligible Dividend Designation
Dividends Paid in Prior Years
Dividend Policy and Restrictions
Common Share History
2010 Dividend Payment Dates
Subject to approval by the Board of Directors
|
Common and Preferred Shares Record Dates
|
Preferred Shares Payment Dates
|
Common Shares Payment Dates
|
|
February 1
|
February 25
|
February 26
|
|
May 3
|
May 25
|
May 26
|
|
August 2
|
August 25
|
August 26
|
|
November 1
|
November 25
|
November 26
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Dividends Paid in 2009
|
Issue , Class
|
Dividends
Paid to
Shareholders
of Record on
Feb. 6, 2009
|
Dividends
Paid to
Shareholders
of Record on
May 1, 2009
|
Dividends
Paid to
Shareholders
of Record on
August 7, 2009
|
Dividends
Paid to
Shareholders
of Record on
November 6, 2009
|
|
Common
|
$0.70
|
$0.70
|
$0.70
|
$0.70
|
| Preferred Class B: |
|
|
|
|
| Series 5 |
$0.33125
|
$0.33125
|
$0.33125
|
$0.33125
|
|
Series 10
|
U.S.$0.371875
|
U.S.$0.371875
|
U.S.$0.371875
|
U.S.$0.371875
|
|
Series 13
|
$0.28125
|
$0.28125
|
$0.28125
|
$0.28125
|
|
Series 14
|
$0.328125
|
$0.328125
|
$0.328125
|
$0.328125
|
| Series 15 |
$0.3625
|
$0.3625
|
$0.3625
|
$0.3625
|
| Series 16 |
$0.325
|
$0.325
|
$0.325
|
$0.325
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| Series 18 |
|
$0.73459
|
$0.40625
|
$0.40625
|
| Series 21 |
|
|
$0.70342
|
$0.40625
|
| Series 23 |
|
|
|
$0.58808
|
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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
|
Shares Outstanding
at October 31, 2009
|
2009
|
2008
|
2007
|
2006
|
2005
|
|
Common
|
BMO
|
551,715,904
|
$2.80
|
$2.80
|
$2.71
|
$2.26
|
$1.85
|
| Preferred Class B: |
|
|
|
|
|
|
|
|
Series 4(a)
|
BMO G
|
—
|
—
|
—
|
$0.91
|
$1.20
|
$1.20
|
|
Series 5
|
BMO H
|
8,000,000
|
$1.33
|
$1.33
|
$1.33
|
$1.33
|
$1.33
|
|
Series 6(b)
|
BMO I
|
—
|
—
|
$1.19
|
$1.19
|
$1.19
|
$1.19
|
|
Series 10
|
BMO V
|
12,000,000
|
US$1.49
|
US$1.49
|
US$1.49
|
US$1.49
|
US$1.49
|
|
Series 13(c)
|
BMO J
|
14,000,000
|
$1.13
|
$1.13
|
$0.96
|
—
|
—
|
|
Series 14(d)
|
BMO K
|
10,000,000
|
$1.31
|
$1.48
|
—
|
—
|
—
|
|
Series 15(e)
|
BMO L
|
10,000,000
|
$1.45
|
$0.94
|
—
|
—
|
—
|
|
Series 16(f)
|
BMO M
|
12,000,000
|
$1.30
|
$0.55
|
—
|
—
|
—
|
|
Series 18(g)
|
BMO N
|
6,000,000
|
$1.55
|
—
|
—
|
—
|
—
|
|
Series 21(h)
|
BMO O
|
11,000,000
|
$1.11
|
—
|
—
|
—
|
—
|
|
Series 23(i)
|
BMO P
|
16,000,000
|
$0.59
|
—
|
—
|
—
|
—
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(a) The Class B Preferred Shares Series 4 were issued in February 1998 and were redeemed in August 2007.
(b) The Class B Preferred Shares Series 6 were issued in May 1998 and were redeemed in November 2008.
(c) The Class B Preferred Shares Series 13 were issued in January 2007.
(d) The Class B Preferred Shares Series 14 were issued in September 2007.
(e) The Class B Preferred Shares Series 15 were issued in March 2008.
(f) The Class B Preferred Shares Series 16 were issued in June 2008.
(g) The Class B Preferred Shares Series 18 were issued in December 2008.
(h) The Class B Preferred Shares Series 21 were issued in March 2009.
(i) The Class B Preferred Shares Series 23 were issued in June 2009.
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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
|
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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