Bank of Montreal Raises Quarterly Dividend by 2.7%

By Colin Kellaher

Bank of Montreal's board has raised the quarterly dividend by 2.7%, to 1.51 Canadian dollars (US$1.12) from C$1.47.

The new quarterly payout, equal to C$6.04 a year, represents an annual yield of about 5.42% based on Thursday's closing price of C$111.38, up from 5.28%.

The Toronto-based banking and financial-services giant on Friday said the increased dividend is payable Feb. 27 to shareholders of record Jan. 30.

Write to Colin Kellaher at [e-mail]

(END) Dow Jones Newswires

12-01-23 0624ET