BMO Financial Group (BMO,BMO.TO) on Tuesday announced that it plans to repurchase up to 25 million shares under a normal course issuer bid, which would commence on or around September 8, 2026 and run until September 7, 2027.
"The proposed normal course issuer bid will provide the Bank with additional flexibility to manage its capital position," the lender said.
The shares that may be repurchased represent approximately 3.6% of the 'public float of shares as of July 31. The lender will pay the market price for the shares at the time of acquisition. There were 697.146 million Bank of Montreal shares issued and outstanding as of July 31, and the public float was 696.863 million shares.
The board will pay a quarterly dividend of C$1.71 per share on November 26 to the shareholders of record as of October 30.
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