BMO raises division to 93 cents a share notwithstanding reduce profit

The Bank of Montreal posted a quarterly distinction of $1.2 billion in a fourth quarter, a dump of 9 per cent from final year’s level.

BMO, a final of Canada’s large banks to news gain in a past week, pronounced a practiced net income came in reduce than what analysts were awaiting in partial since a bank had to compensate an extra $112 million in reinsurance claims since of hurricanes Irma, Maria and Harvey this summer.

The bank also set aside $208 million set aside to cover bad loans. That’s adult from $174 million final year.

But notwithstanding a reduce profit, a bank lifted a quarterly divided by 3 cents a share to 93 cents per quarter.

More to come

Article source: http://www.cbc.ca/news/business/bmo-profit-earnings-1.4433292?cmp=rss