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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ISHARES CANADIAN SELECT DIVIDEND INDEX ETF $28.00 (Toronto symbol XDV) lets you hold 30 of the highest-yielding Canadian stocks. The ETF also considers dividend growth and payout ratios to make its selections.
The weight of any one stock holding is limited to 10% of the fund’s assets. Its MER… Read More
BANK OF MONTREAL, $122.61, Toronto symbol BMO, remains a buy.
With the February 2023 payment, Bank of Montreal will raise your quarterly dividend by 2.9%, to $1.43 a share from $1.39. The new annual rate of $5.72 yields a high 4.7%.
In December 2021, the bank agreed… Read More
BANK OF MONTREAL, $120.63, Toronto symbol BMO, remains a buy.
In December 2021, the bank agreed to acquire California-based Bank of the West from France’s BNP Paribas for $16.3 billion U.S.
Bank of the West provides a variety of retail and commercial banking services to over 1.8… Read More
ENBRIDGE INC., $54.69, Toronto symbol ENB, is a buy.
The company operates pipelines that pump oil and natural gas from Western Canada to eastern Canada and the U.S. It also distributes gas to 3.8 million consumers in Ontario.
With the March 2023 payment, Enbridge will raise your… Read More
Rising interest rates are generally good news for banks, as higher rates increase the income from new and renewing loans. On the other hand, higher rates also increase the risk that borrowers will fall behind in their loan payments.
We feel that Bank of Montreal will… Read More
BANK OF MONTREAL, $127.44, Toronto symbol BMO, remains a buy.
With the August 2022 payment, Bank of Montreal raised your dividend by 4.5%, to $1.39 a share from $1.33. The new annual rate of $5.56 yields a high 4.4%.
The bank recently agreed to acquire California-based Bank… Read More
BANK OF MONTREAL, $121.78, Toronto symbol BMO, remains a buy.
The bank recently agreed to acquire California-based Bank of the West from France’s BNP Paribas for $16.3 billion U.S.
Bank of the West provides a variety of retail and commercial banking services to over 1.8 million customers… Read More
INTERNATIONAL BUSINESS MACHINES CORP., $130.79, New York symbol IBM, is a buy.
The company is one of the world’s largest computer firms, with operations in over 175 countries.
With the June 2022 payment, IBM raised your quarterly dividend by 0.6%, to $1.65 a share from $1.64. The… Read More
The Bank of Canada recently raised its benchmark lending rate by 1.0% to 2.5%. More hikes are likely as Canada’s inflation rate recently topped 8%. Higher interest rates will slow demand for new mortgages and other loans. However, loan writeoffs at these two leading banks… Read More
SUNCOR ENERGY INC., $39.78, Toronto symbol SU, remains a buy.
The company is Canada’s largest integrated oil firm, with major projects in the Alberta oil sands. Suncor also operates four refineries (three in Canada and one in Colorado), along with 1,875 Petro-Canada gas stations.
This week, Suncor… Read More
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