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Posts Tagged ‘Bank of Montreal’

I have spoken out against Wikipedia’s lack of adherence to its neutral point of view policy, but it is great to get recognition by others in linking to an article on this site in order to provide documentable and accurate evidence in support of serious Wikipedia articles, like this one on the Bank of Montreal, where they linked to my article, Big Five Canadian banks: Consistently paying dividends since the 1800s.

The company has not missed a dividend payment since 1829, paying dividends consistently though major world crises such as WWI, The Great Depression, WWII, and the 2008 Financial Crisis, this makes Bank of Montreal’s dividend payment history one of the longest in the world.[5]”

“[5] “Big Five Canadian banks: Consistently paying dividends since the 1800s”. Faux Capitalism. 2010-07-01. Retrieved 2014-09-19.

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The Big Five Canadian banks and their stocks: Royal Bank of Canada (RY), Toronto-Dominion (TD), Bank of Nova Scotia (BNS), Bank of Montreal (BMO) and Canadian Imperial Bank of Commerce (CM), have been paying common dividends since the 1800s.

BMO, Scotiabank, TD, CIBC, and RBC haven’t missed paying dividends on common shares since 1829, 1832, 1857, 1868, and 1870, respectively.

That is, through WWI, WWII, the Great Depression, all the U.S. and international financial crises, and with and without a central bank.

As of June 30, 2010 prices on the NYSE, their annual dividends are:
RY 3.80%, TD 3.40%, BNS 3.90%, BMO 4.70%, CM 4.90%

Whereas the big five U.S. banks (JP Morgan, Bank of America, Wells Fargo, Citigroup and Goldman Sachs)  are only paying:
JPM 0.50%, BAC 0.30%, WFC 0.70%, C 0%, GS 1.00%

They are also listed on the Toronto Stock Exchange, so you can buy in Canadian dollars to hedge against a declining USD, when appropriate.

In February 2009, I wrote how the Big Five Canadian banks were on pace to dwarf the five biggest U.S. banks, with the the five biggest U.S. banks having twice the market capitalization of the five biggest Canadian banks, despite the U.S. economy being nine times the size of the Canadian economy.

As of the end of June 2010, the five biggest U.S. banks are still less than three times the market capitalization of the five biggest Canadian banks.

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