Bank of Montreal reports fourth-quarter profit, raises dividend

Tue Dec 2, 2014 7:43am EST
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TORONTO Dec 2 (Reuters) - Bank of Montreal reported a weaker-than-expected fourth-quarter profit on Tuesday, but increased its dividend by 3 percent as revenue climbed from a year earlier.

Net income at Canada's fourth-largest bank was C$1.07 billion ($941.57 million), or C$1.56 a share, for the fourth quarter ended Oct 31, compared with C$1.07 billion, or C$1.60 a share, a year earlier.

Adjusted earnings were C$1.63 a share. Analysts had expected C$1.68 a share.

($1 = 1.1364 Canadian dollars) (Reporting by Jeffrey Hodgson)