Bank of Montreal Q4 profit inches higher; dividend raised

Tue Dec 3, 2013 7:54am EST
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TORONTO Dec 3 (Reuters) - Bank of Montreal, Canada's No. 4 bank, said on Tuesday its quarterly profit rose 1 percent as stronger wealth management profit was offset by weaker trading results.

The bank, the first Canadian lender to report results for the fiscal fourth quarter, also raised its quarterly dividend by 2.7 percent to 76 Canadian cents a share.

Bank of Montreal earned C$1.09 billion ($1.02 billion), or C$1.62 a share, in the quarter ended Oct. 31. That compared with a profit of C$1.08 billion, or C$1.59 a share, in the year-before period.