Bank of Montreal profits rise to $970 million in third quarter, revenue higher
Posted August 28, 2012 7:42 am.
This article is more than 5 years old.
TORONTO – The Bank of Montreal is increasing its dividend as it reports that net income rose 37 per cent in the third quarter.
BMO, the first bank to report its earnings for the period, says its dividend will be boosted by two cents to 72 cents per share. In the quarter, the bank posted net income of $970 million or $1.42 per share.
That’s up from $708 million, or $1.09 per share, a year earlier.
On an adjusted basis, earnings were $1.49 per share, beating analyst expectations by 10 cents, according to a survey by Thomson Reuters.
Revenue increased to $3.88 billion from $3.32 billion.
