Bank of Montreal Profit Rises 13% on U.S. Gains, Raises Payout
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Bank of Montreal said fiscal fourth-quarter profit rose 13 percent, led by capital markets and U.S. banking. The lender raised its dividend 2.4 percent to 84 Canadian cents a share.
Net income for the period ended Oct. 31 climbed to a record C$1.21 billion ($908 million), or C$1.83 a share, from C$1.07 billion, or C$1.56, a year earlier, the Toronto-based firm said Tuesday in a statement. Profit excluding some items was C$1.90 a share, beating the C$1.74 average estimate of 16 analysts surveyed by Bloomberg.