Bank of Montreal profit rises 12 pct; dividend raised

Wed May 28, 2014 7:47am EDT
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TORONTO May 28 (Reuters) - Bank of Montreal said on Wednesday its quarterly profit rose 12 percent on the back of strong capital markets and domestic lending income, and the lender raised its dividend by 3 percent.

Net profit was C$1.08 billion ($993.51 million), or C$1.60 a share, for the second quarter ended April 30, up from C$962 million, or C$1.40 a share, a year earlier.

BMO is Canada's fourth-largest bank.

($1 = 1.0871 Canadian Dollars) (Reporting by Cameron French, Editing by Franklin Paul)