Bank Of Montreal To Buyback 12 Mln Shares; Declares Qtly Dividend - Quick Facts

(RTTNews) - Bank of Montreal (BMO, BMO.TO) announced Tuesday that its Board of Directors declared a quarterly dividend of C$1.06 per share on paid-up common shares of Bank of Montreal for the second quarter of fiscal year 2020. The dividend is payable on May 26, 2020, to shareholders of record on May 1, 2020.

The common shareholders may elect to have their cash dividends reinvested in common shares of the Bank in accordance with the Bank's Shareholder Dividend Reinvestment and Share Purchase Plan.

Separately, Bank of Montreal announced its intention, subject to the approval of the Office of the Superintendent of Financial Institutions Canada (OSFI) and the Toronto Stock Exchange (TSX), to purchase for cancellation up to 12 million of its common shares under a normal course issuer bid.

Subject to regulatory approvals, the normal course issuer bid will commence on or around June 3, 2020, and will end on or around June 2, 2021.