Bank of Montreal reports higher Q2 profit and raises its dividend
TORONTO – Bank of Montreal (TSX:BMO) is reporting a higher second-quarter net income of $1.1 billion and is raising its shareholder dividend.
That’s up 12 per cent from $962 million in net income in the same quarter of 2013.
Earnings per share in the quarter were $1.60, up from $1.40 year-over-year. Adjusted earnings per share were $1.63, up 13 per cent from the same quarter last year, and beating analysts’ expectations of $1.53.
The bank is raising its dividend by two cents to 78 cents per common share.
BMO says its net income was helped byits Canadian personal and commercial banking segments.
BMO is the fifth of the big banks to report earnings and all have beaten expectations on adjusted earnings per share.
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