CBC.ca Bank of Montreal Earnings

This is good for shareholders of Bank of Montreal stock. By the way.. what does the Bank of Montreal do with over a half a billion dollars in profit anyway?

What do they spend it on?

Bank of Montreal's Q3 profit sinks 16 per cent to $541M; dividend boosted
06:24 PM EDT Aug 24
RITA TRICHUR

TORONTO (CP) - Bank of Montreal kicked off earnings season for the big Canadian banks Tuesday with a third-quarter profit that tumbled 16 per cent from last year, mostly on lower income from investment banking and higher loan-loss provisions.

Even though its results missed analysts' expectations, the bank boosted its quarterly dividend by three cents, or 6.5 per cent, to 49 cents a common share.

The Toronto-based bank said its net income declined $102 million to $541 million, or $1.05 per share, versus $643 million or $1.24 per share booked in the comparable 2004 period.