BMO Financial Group Increases Common Share Dividend by 27 cents from the prior quarter, up 25 per cent from the prior quarter and prior year

TORONTO, Dec. 3, 2021/CNW/ - Bank of Montreal(TSX: BMO) (NYSE: BMO) today announced that its Board of Directors declared a quarterly dividend of $1.33per share on paid-up common shares of Bank of Montrealfor the first quarter of fiscal year 2022 ("Q1 2022 Dividend"), a 27 centincrease from the previous quarter and up 25 per cent from the prior quarter and prior year.

The Board of Directors also declared dividends of:

• $0.24075per share on paid-up Class B Preferred Shares Series 27;
• $0.2265per share on paid-up Class B Preferred Shares Series 29;
• $0.240688per share on paid-up Class B Preferred Shares Series 31;
• $0.190875per share on paid-up Class B Preferred Shares Series 33;
• $0.303125per share on paid-up Class B Preferred Shares Series 38;
• $0.28125per share on paid-up Class B Preferred Shares Series 40;
• $0.275per share on paid-up Class B Preferred Shares Series 42;
• $0.303125per share on paid-up Class B Preferred Shares Series 44; and
• $0.31875per share on paid-up Class B Preferred Shares Series 46.

The dividend on the common shares is payable on February 28, 2022, to shareholders of record on February 1, 2022. The dividends on the preferred shares are payable on February 25, 2022, to shareholders of record on February 1, 2022.

The above-mentioned dividends on the common and preferred shares are designated as "eligible" dividends for the purposes of the Income Tax Act (Canada) and any similar provincial and territorial legislation.

Common shareholders may elect to have their cash dividends reinvested in common shares of the Bank in accordance with the Bank's Shareholder Dividend Reinvestment and Share Purchase Plan (the "Plan"). For the Q1 2022 Dividend declared today and subsequently until further notice, such additional common shares will be purchased on the open market.

For registered shareholders who wish to participate in the Plan, Enrolment Forms must be received by the Bank's transfer agent, Computershare Trust Company of Canada, by the close of business on February 3, 2022. Beneficial or non-registered holders must contact their financial institution or broker well in advance of the above date for instructions on how to participate.

More information about the Plan and how to enroll can be found at:

http://www.bmo.com/home/about/banking/investor-relations/shareholder-information/dividend-reinvestment-plan

SOURCE BMO Financial Group