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UPDATE 1-BMO posts higher profit on U.S. unit growth, raises dividend

Published 2015-12-01, 07:31 a/m
© Reuters. UPDATE 1-BMO posts higher profit on U.S. unit growth, raises dividend
BMO
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(Adds details on dividend, segments)
TORONTO, Dec 1 (Reuters) - Bank of Montreal BMO.TO
reported a higher quarterly profit on Tuesday, benefiting from
growth in its U.S. personal and commercial banking unit, and it
increased its quarterly dividend.
The lender, Canada's fourth-largest bank, said it would lift
its dividend to 84 Canadian cents per share this quarter, a 2
percent rise from the previous period.
Net income for the fourth quarter ended Oct. 31 was C$1.21
billion, or C$1.83 per share, compared with C$1.07 billion, or
C$1.56 per share, a year earlier.
Excluding special items, earnings were C$1.90 per share.
Analysts on average had expected C$1.74 a share, according
to Thomson Reuters I/B/E/S.
Profit jumped 23 percent in U.S. personal and commercial
banking and 27 percent at the capital markets division.

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