=-=Bank of Montreal (BMO) reported earnings on Wed 29 May 24 (b/o)

 

Bank of Montreal misses by CAD0.18, misses on revs; raises dividend

• Reports Q2 (Apr) earnings of CAD2.59 per share, CAD0.18 worse than the FactSet Consensus of CAD2.77; revenues rose 2.4% year/year to CAD7.97 bln vs the CAD8.07 bln FactSet Consensus.
  • Provision for credit losses (PCL) of CAD705 million, compared with CAD1,023 million on a reported basis and CAD318 million on an adjusted basis1
  • Return on equity (ROE) of 9.9%, compared with 5.5%; adjusted ROE1, 2 of 10.9%, compared with 12.6%
  • Common Equity Tier 1 (CET1) Ratio of 13.1%, compared with 12.2%
• Declared a quarterly dividend of CAD1.55 per common share, an increase of CAD0.08 or 5% from the prior year and CAD0.04 or 3% from the prior quarter