BMO Misses Target

BMO_Sponsorship_2RB

CBJ – Bank of Montreal has raised its quarterly dividend by two cents to 80 cents despite ending the fiscal year with an earnings report that falls short of economists’ expectations.

BMO’s fourth-quarter profit totalled $1.07-billion, which is about the same as last year.

Most BMO business sectors showed profit growth, but capital markets earnings dropped 12% from the same period a year ago, and a whopping 38% from the previous quarter.

@CanBizJournal

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