BMO posts rise in second-quarter profit, raises dividend

Wed May 27, 2015 7:50am EDT
 
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TORONTO May 27(Reuters) - Bank of Montreal, Canada's fourth-largest lender, reported a higher second-quarter adjusted profit on Wednesday, driven by growth in its wealth management and U.S. banking businesses, and raised its quarterly dividend.

The company said net income for the quarter ended April 30 was C$999 million, or C$1.49 per share, compared with C$1.08 billion, or C$1.60 per share, a year ago. Excluding items, earnings rose to C$1.71.

Analysts on average had expected earnings of C$1.66 a share, according to Thomson Reuters I/B/E/S. (Reporting by John Tilak)