Bank of Montreal (BMO.TO, BMO) has declared its plan to buy back up to 20 million of its common shares through a normal course issuer bid. This strategic move will provide the bank with greater flexibility in managing its capital resources. The shares scheduled for repurchase account for roughly 2.7% of the public float of common shares as of November 30, 2024.
Additionally, Bank of Montreal has announced that its Board of Directors has approved a quarterly dividend of $1.59 per share on its paid-up common shares for the first quarter of fiscal year 2025. This dividend will be disbursed on February 26, 2025, to shareholders recorded by January 30, 2025.
