BMO Financial Q1 Results Miss Estimates; Declares Dividend
(RTTNews) - Bank of Montreal (BMO, BMO.TO) reported Tuesday that its first-quarter net income was C$1.29 billion or C$1.73 per share, sharply higher than C$133 million or C$0.14 per share in the prior-year quarter.
Excluding items, adjusted net income for the quarter was C$1.89 billion or C$2.56 per share, compared to C$2.16 billion or C$3.06 per share in the year-ago quarter.
On average, 12 analysts polled by Thomson Reuters expect the company to report earnings of C$3.02 per share for the quarter. Analysts' estimates typically exclude special items.
Provision for credit losses were C$627 million, compared to C$217 million last year.
Revenue for the quarter decreased to C$7.67 billion from C$5.10 billion in the same quarter last year. Analysts expected revenues of C$8.38 billion for the quarter.
Separately, Bank of Montreal announced that its Board of Directors declared a quarterly dividend of C$1.51 per share on paid-up common shares for the second quarter of fiscal year 2024, payable on May 28, 2024, to shareholders of record on April 29, 2024.
For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com
BMO Inks Deal To Buy LoyaltyOne's AIR MILES Reward Program Business
BMO Financial Q1 Profit Plunges; Declares Dividend
BMO Financial To Acquire Radicle Group For Undisclosed Terms
TSX Ends Sharply Lower On Mixed Economic Data, Weak Commodities
Dollar Rises, Gains Against Major Counterparts
Swiss Market Ends On Buoyant Note
U.S. Dollar Higher Amid Risk Aversion
