The Bank of Montreal (BMO) raised their dividend to $0.70 today from $0.68 which is up from $0.65 that was paid out earlier in the year. This stock is the only stock in my leveraged portfolio and since one of the cornerstones of my leveraged plan is dividend increases, I was pretty pleased. In 2007, BMO has raised their dividend by 7.7% which is above my long term assumption of 5% annual dividend growth. The current yield based on today’s closing price is 4.26% which is pretty good especially if you are doing a leveraged plan like I am and need some dividend income to cover the interest costs.
An excellent website called Dividends Matter has an analysis on BMO which is worth checking out.
Now they did have a bit of an earnings drop but considering it was mostly from a trading problem which has ended (although they keep reporting losses from it) so I’m not worried about it.
Yesterday I posted a review of chapter one from Richard Bach’s book “Smart Couples Finish Rich”. Coincidentally, Brip Blap is hosting a book giveaway with Bach’s book as the main prize – so head on over and leave a comment and you might win this excellent book.
In other news I entered the latest Carnival of Personal Finance hosted by Free Money Finance so go check it out! I haven’t actually read any of the other posts, other than the ones from blogs I normally read so if you find any good ones, please let me know.