Bank of Montreal (BZZ.SG)
- Reuters
Canada's BMO misses profit on high loan loss provisions, US weakness
(Reuters) -Canadian lender Bank of Montreal on Wednesday missed analysts' estimates for quarterly profit, hurt by weakness at its U.S. segment and as it sets aside more funds to cover for potentially souring loans in a high interest rate environment. BMO said the U.S. segment's adjusted net income fell 24%, hit by lower net interest income, or the difference between what a bank earns on loans and pays out for deposits, due to lower margins. Lenders have been competing on deposit rates to prevent consumers from moving their money to alternative high-yielding funds amid high interest rates.
- PR Newswire
BMO Financial Group Increases Common Share Dividend by 4 cents from the prior quarter, up 5 per cent from the prior year
Bank of Montreal (TSX: BMO) (NYSE: BMO) today announced at its Board of Directors declared a quarterly dividend of $1.55 per share on paid-up common shares of Bank of Montreal for the third quarter of fiscal year 2024 ("Q3 2024 Dividend"), a 4 cent, or 3 per cent, increase from the prior quarter, up 5 per cent from the prior year.
- PR Newswire
BMO Financial Group Reports Second Quarter 2024 Results
For the second quarter ended April 30, 2024, BMO Financial Group (TSX: BMO) (NYSE: BMO) recorded net income of $1,866 million or $2.36 per share on a reported basis, and net income of $2,033 million or $2.59 per share on an adjusted basis.
