BMO, National Bank Raise Dividends as Profit Beats Estimates
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Bank of Montreal and National Bank of Canada boosted their dividends after posting fiscal second-quarter profit that beat analysts’ estimates.
Bank of Montreal, Canada’s fourth-largest lender, raised its quarterly payout 2.5 percent to 82 cents a share after reporting profit of C$999 million ($801 million), down 7.2 percent from a year earlier, the Toronto-based company said Wednesday in a statement. The firm attributed most of the decline to a restructuring charge.