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.
Learn more about Bank of Montreal stock and other blue chip shares by following TSI Network and using our three-part Successful Investor strategy:
Invest mainly in well-established companies;
Spread your money out across most if not all of the five main economic sectors (Manufacturing & Industry; Resources & Commodities; the Consumer sector; Finance; Utilities);
Downplay or avoid stocks in the broker/media limelight.
A: Hamilton Enhanced Canadian Bank ETF, $21.63, symbol HCAL on Toronto, (Units outstanding: 18.7 million; Market cap: $404.5 million; hamiltonetfs.com) aims to track the Solactive Canadian Bank Mean Reversion Index.
This index invests in the biggest six Canadian banks—Bank of Nova Scotia, Bank of Montreal, CIBC,… Read More
Over the last few years, more and more ETF managers have launched funds focused on taking environmental, social, and governance (ESG) factors into account.
Sustainable investing offers some investors a lot of conceptual and emotional appeal. But does investing in these kind of stocks hurt your… Read More
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%.
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
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
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