BMO Financial Group reports Q4 profit down from year ago, raises dividend
By The Canadian Press on December 1, 2023.
TORONTO – BMO Financial Group raised its dividend as it reported its fourth-quarter profit fell compared with a year ago. The bank says it will now pay a quarterly dividend of $1.51 per share, up from $1.47 per share. The increased payment to shareholders came as BMO said its net income amounted to nearly $1.62 billion or $2.06 per diluted share for the quarter ended Oct. 31, down from $4.48 billion or $6.51 per diluted share a year earlier. On an adjusted basis, BMO says it earned $2.81 per diluted share in its latest quarter, down from an adjusted profit of $3.04 per diluted share a year ago. Revenue was $8.36 billion, down from $10.57 billion in the same quarter last year. BMO’s total provision for credit losses for the quarter rose to $446 million, up from $226 million a year earlier. This report by The Canadian Press was first published Dec. 1, 2023. Companies in this story: (TSX:BMO) 9-8
