BMO is enhancing its DRIP:
Bank of Montreal (TSX:BMO)(NYSE:BMO) today announced that it is offering a two per cent discount on its common shares issued from treasury under the dividend reinvestment feature of its Shareholder Dividend Reinvestment and Share Purchase Plan (the “Plan”). Under the Plan, shareholders may elect to have dividends on common shares reinvested in additional common shares of the Bank. The discount will be calculated in accordance with the terms of the Plan.
The description of the plan makes it clear that these will be treasury shares:
There may also be a discount of up to 5% from such Average Market Price if the Bank issues new common shares from its treasury.
Such additional shares will be purchased on the open market or issued by the Bank from treasury. Commencing with the common share dividend declared for the fourth quarter of fiscal 2016, and subsequently until further notice, additional shares issued by the Bank from treasury will be with 2% discount.
| HIMIPref™ Preferred Indices These values reflect the December 2008 revision of the HIMIPref™ Indices Values are provisional and are finalized monthly |
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| Index | Mean Current Yield (at bid) |
Median YTW |
Median Average Trading Value |
Median Mod Dur (YTW) |
Issues | Day’s Perf. | Index Value |
| Ratchet | 0.00 % | 0.00 % | 0 | 0.00 | 0 | -0.3241 % | 1,702.4 |
| FixedFloater | 0.00 % | 0.00 % | 0 | 0.00 | 0 | -0.3241 % | 3,109.9 |
| Floater | 4.39 % | 4.53 % | 44,902 | 16.38 | 4 | -0.3241 % | 1,792.3 |
| OpRet | 0.00 % | 0.00 % | 0 | 0.00 | 0 | -0.0132 % | 2,895.7 |
| SplitShare | 4.84 % | 4.49 % | 43,902 | 2.10 | 6 | -0.0132 % | 3,458.1 |
| Interest-Bearing | 0.00 % | 0.00 % | 0 | 0.00 | 0 | -0.0132 % | 2,698.2 |
| Perpetual-Premium | 5.36 % | 4.75 % | 70,665 | 2.06 | 23 | 0.1101 % | 2,690.6 |
| Perpetual-Discount | 5.14 % | 5.13 % | 100,741 | 15.28 | 15 | 0.0113 % | 2,901.3 |
| FixedReset | 4.87 % | 4.30 % | 163,293 | 6.90 | 92 | 0.5394 % | 2,088.1 |
| Deemed-Retractible | 5.03 % | 4.98 % | 112,606 | 1.16 | 32 | -0.0255 % | 2,800.0 |
| FloatingReset | 2.99 % | 4.16 % | 38,684 | 4.96 | 12 | 0.3798 % | 2,248.1 |
| Performance Highlights | |||
| Issue | Index | Change | Notes |
| TRP.PR.F | FloatingReset | 1.06 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2046-10-17 Maturity Price : 14.35 Evaluated at bid price : 14.35 Bid-YTW : 4.32 % |
| HSE.PR.C | FixedReset | 1.09 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2046-10-17 Maturity Price : 19.40 Evaluated at bid price : 19.40 Bid-YTW : 5.22 % |
| TRP.PR.D | FixedReset | 1.10 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2046-10-17 Maturity Price : 18.40 Evaluated at bid price : 18.40 Bid-YTW : 4.43 % |
| MFC.PR.M | FixedReset | 1.12 % | YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2025-01-31 Maturity Price : 25.00 Evaluated at bid price : 18.91 Bid-YTW : 7.55 % |
| FTS.PR.M | FixedReset | 1.13 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2046-10-17 Maturity Price : 19.76 Evaluated at bid price : 19.76 Bid-YTW : 4.34 % |
| SLF.PR.I | FixedReset | 1.14 % | YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2025-01-31 Maturity Price : 25.00 Evaluated at bid price : 19.52 Bid-YTW : 7.13 % |
| SLF.PR.H | FixedReset | 1.15 % | YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2025-01-31 Maturity Price : 25.00 Evaluated at bid price : 16.78 Bid-YTW : 8.54 % |
| MFC.PR.H | FixedReset | 1.15 % | YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2025-01-31 Maturity Price : 25.00 Evaluated at bid price : 22.00 Bid-YTW : 5.85 % |
| IAG.PR.A | Deemed-Retractible | 1.21 % | YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2025-01-31 Maturity Price : 25.00 Evaluated at bid price : 23.45 Bid-YTW : 5.61 % |
| RY.PR.Z | FixedReset | 1.25 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2046-10-17 Maturity Price : 19.44 Evaluated at bid price : 19.44 Bid-YTW : 4.06 % |
| PWF.PR.P | FixedReset | 1.27 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2046-10-17 Maturity Price : 13.57 Evaluated at bid price : 13.57 Bid-YTW : 4.34 % |
| BAM.PR.T | FixedReset | 1.27 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2046-10-17 Maturity Price : 15.90 Evaluated at bid price : 15.90 Bid-YTW : 4.94 % |
| SLF.PR.J | FloatingReset | 1.40 % | YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2025-01-31 Maturity Price : 25.00 Evaluated at bid price : 13.08 Bid-YTW : 10.84 % |
| BNS.PR.Y | FixedReset | 1.41 % | YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2022-01-31 Maturity Price : 25.00 Evaluated at bid price : 20.80 Bid-YTW : 5.50 % |
| MFC.PR.L | FixedReset | 1.53 % | YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2025-01-31 Maturity Price : 25.00 Evaluated at bid price : 18.61 Bid-YTW : 7.57 % |
| BAM.PF.E | FixedReset | 1.63 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2046-10-17 Maturity Price : 19.33 Evaluated at bid price : 19.33 Bid-YTW : 4.60 % |
| MFC.PR.J | FixedReset | 1.71 % | YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2025-01-31 Maturity Price : 25.00 Evaluated at bid price : 19.66 Bid-YTW : 7.01 % |
| IFC.PR.A | FixedReset | 1.71 % | YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2025-01-31 Maturity Price : 25.00 Evaluated at bid price : 15.46 Bid-YTW : 9.71 % |
| CU.PR.C | FixedReset | 1.72 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2046-10-17 Maturity Price : 19.48 Evaluated at bid price : 19.48 Bid-YTW : 4.14 % |
| IFC.PR.C | FixedReset | 2.15 % | YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2025-01-31 Maturity Price : 25.00 Evaluated at bid price : 18.57 Bid-YTW : 7.67 % |
| TRP.PR.G | FixedReset | 2.16 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2046-10-17 Maturity Price : 21.25 Evaluated at bid price : 21.25 Bid-YTW : 4.46 % |
| BAM.PR.Z | FixedReset | 2.22 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2046-10-17 Maturity Price : 19.79 Evaluated at bid price : 19.79 Bid-YTW : 4.85 % |
| BAM.PR.X | FixedReset | 3.63 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2046-10-17 Maturity Price : 13.98 Evaluated at bid price : 13.98 Bid-YTW : 4.73 % |
| Volume Highlights | |||
| Issue | Index | Shares Traded |
Notes |
| BNS.PR.Q | FixedReset | 151,043 | YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2022-01-31 Maturity Price : 25.00 Evaluated at bid price : 24.10 Bid-YTW : 3.66 % |
| RY.PR.Q | FixedReset | 123,320 | YTW SCENARIO Maturity Type : Call Maturity Date : 2021-05-24 Maturity Price : 25.00 Evaluated at bid price : 26.74 Bid-YTW : 4.04 % |
| TD.PR.S | FixedReset | 107,930 | YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2022-01-31 Maturity Price : 25.00 Evaluated at bid price : 24.12 Bid-YTW : 3.43 % |
| BNS.PR.H | FixedReset | 106,181 | YTW SCENARIO Maturity Type : Call Maturity Date : 2022-01-26 Maturity Price : 25.00 Evaluated at bid price : 25.80 Bid-YTW : 4.28 % |
| W.PR.M | FixedReset | 88,898 | YTW SCENARIO Maturity Type : Call Maturity Date : 2021-10-15 Maturity Price : 25.00 Evaluated at bid price : 25.90 Bid-YTW : 4.43 % |
| TD.PF.A | FixedReset | 80,220 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2046-10-17 Maturity Price : 18.90 Evaluated at bid price : 18.90 Bid-YTW : 4.16 % |
| There were 66 other index-included issues trading in excess of 10,000 shares. | |||
| Wide Spread Highlights | ||
| Issue | Index | Quote Data and Yield Notes |
| IFC.PR.D | FloatingReset | Quote: 18.30 – 21.00 Spot Rate : 2.7000 Average : 1.8108 YTW SCENARIO |
| TRP.PR.D | FixedReset | Quote: 18.40 – 18.84 Spot Rate : 0.4400 Average : 0.2927 YTW SCENARIO |
| TRP.PR.E | FixedReset | Quote: 18.80 – 19.18 Spot Rate : 0.3800 Average : 0.2482 YTW SCENARIO |
| BMO.PR.R | FloatingReset | Quote: 22.75 – 23.15 Spot Rate : 0.4000 Average : 0.2905 YTW SCENARIO |
| TD.PR.Z | FloatingReset | Quote: 22.60 – 22.95 Spot Rate : 0.3500 Average : 0.2508 YTW SCENARIO |
| VNR.PR.A | FixedReset | Quote: 19.30 – 19.72 Spot Rate : 0.4200 Average : 0.3281 YTW SCENARIO |