BMO Financial Group Announces Intention to Repurchase Up to 15 Million of its Common Shares
The normal course issuer bid, subject to regulatory approvals, will commence on or around February 1, 2014, and will end on or around January 31, 2015. The common shares that may be repurchased represent approximately 2.3 per cent of the ‘public float’ (as such term is defined in the TSX Company Manual) of common shares. The timing and amount of any purchases under the program is subject to regulatory approvals and to management discretion based on factors such as market conditions. The Bank will pay the market price for the shares at the time of acquisition.
There were 644,129,945 Bank of Montreal common shares issued and outstanding as at October 31, 2013, and the public float was 643,432,580 common shares. The Bank‘s Basel III Common Equity Ratio was 9.9 per cent, as at October 31, 2013. Maintaining a normal course issuer bid is part of BMO’s capital management strategy.
BMO's current normal course issuer bid commenced on February 1, 2013, and will expire on January 31, 2014. Over the term of the current bid to December 2, 2013, BMO has purchased 10.7 million of its common shares at an average price of $62.88 per share.
Bank of Montreal's common shares are listed on both the Toronto and New York stock exchanges.
Website: http://www.bmo.com
Contact
Ralph Marranca, Toronto
416-867-3996
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Ronald Monet, Montreal
514-877-1873
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For Investor Relations Enquiries:
Sharon Haward-Laird, Toronto
(416) 867-6656
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Andrew Chin, Toronto
(416) 867-7019
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Internet: www.bmo.com
This news is a press release provided by BMO Financial Group. Korea Newswire follows these editorial guidelines.
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2016년 2월 25일 08:29