The Bank of Montreal is Canada’s fourth-largest bank. Bank of Montreal is represented on the Toronto Stock Exchange with the symbol BMO.
This Canadian bank stock has consistently paid dividends for 186 years. Bank of Montreal has benefited both from expansion outside of Canada and low interest rates in recent years. Low interest rates have helped the bank by increasing demand for loans.
The bank continues to make acquisitions in the U.S. and the U.K., including Wisconsin-based banking firm Marshall & Ilsley for $4.0 billion in stock, and General Electric’s transportation-financing business, adding $11.5 billion in assets.
Bank of Montreal is also using acquisitions to expand its wealth management division, which now accounts for 18% of its earnings. It paid $1.3 billion for U.K.-based wealth management firm F&C Asset Management, which sells investment services to individuals and institutional clients, such as pension plans and insurance companies.
Bank of Montreal has paid dividends each year since 1829 and has increased its payout six times in the past three years.
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Bank of Montreal, along with other bank stocks, has suffered in the past year as investors worried rising interest rates would hurt borrowing demand and spur a wave of loan writedowns. However, banking regulators have toughened lending standards and mortgage stress-test levels in prior years… Read More
EMERA INC. $48 (www.emera.com) is a buy. The company owns 100% of Nova Scotia Power, that province’s main electricity supplier. Its other interests include several power plants and natural gas pipelines in the U.S. and the Caribbean. With the November 2023 payment, Emera will raise your quarterly dividend… Read More
The Canadian economy ranks among the top 10 globally. It’s also considered to be in the top 25% of the most competitive economies in the world; it is highly rated for its ability to train and attract skilled workers.
However, after solid growth in 2021 to… Read More
Since March 2022, the Bank of Canada has raised its benchmark interest rate 10 times, from just 0.25% to 5.0%. The rapid increase is meant to counter rising inflation in the wake of the COVID-19 pandemic and related supply chain disruptions. So far, the plan… Read More
FORTIS INC., $54.36, Toronto symbol FTS, is a buy.
The company is the main supplier of electrical power in Newfoundland and PEI. Fortis also owns electrical utilities across Canada, the U.S. and the Caribbean. In addition, the company distributes natural gas in British Columbia, Arizona and New… Read More
BANK OF MONTREAL, $114.19, Toronto symbol BMO, is a buy.
With the August 2023 payment, Bank of Montreal raised your quarterly dividend by 2.8%, to $1.47 a share from $1.43. The new annual rate of $5.88 yields a high 5.1%.
On February 1, 2023, the bank completed… Read More
BANK OF MONTREAL, $117.10, Toronto symbol BMO, remains a buy.
On February 1, 2023, the bank completed its acquisition of Bank of the West from France’s BNP Paribas.
Bank of the West provides a variety of retail and commercial banking services to over 1.8 million customers in 24… Read More
METRO INC. $71 is a buy. The company (Toronto symbol MRU; Aggressive Growth Portfolio, Consumer sector; Shares outstanding: 232.8 million; Market cap: $16.5 billion; Price-to-sales ratio: 0.9; Dividend yield: 1.7%; TSINetwork Rating: Average; www.metro.ca) operates 960 grocery stores and 650 drugstores, in Quebec, Ontario and New Brunswick.
The company… Read More
ROYAL BANK OF CANADA, $124.06, Toronto symbol RY, is a buy.
Canada’s largest bank by market capitalization is raising your quarterly dividend by 2.3%. Starting with the August 2023 payment, investors will receive $1.35 a share instead of $1.32. The new annual rate of $5.40 yields… Read More
ROYAL BANK OF CANADA, $123.08, Toronto symbol RY, is a buy.
Canada’s largest bank by market capitalization earned $3.69 billion before unusual items in its fiscal 2023 second quarter, ended April 30, 2023. That’s down 12.7% from $4.23 billion a year earlier. Due to fewer shares… Read More
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