Shareholder Dividend Reinvestment and Share Purchase Plan
The Bank of Montreal Shareholder Dividend Reinvestment and Share Purchase Plan (the "Plan") permits the reinvestment of a shareholder’s cash dividends to purchase additional common shares of Bank of Montreal (the "Bank"). Such additional shares will be purchased on the open market or issued by the Bank from treasury.
The purchase price of such common shares, if purchased on the open market, will be based on the average of the actual cost incurred by Computershare Trust Company of Canada (the “Agent”) to purchase such common shares in the Investment Period (as defined in the Plan) and, if issued by the Bank from treasury, will be based on the average of the closing prices for a board lot of the Bank’s common shares on the Toronto Stock Exchange on the five trading days on which at least a board lot of the Bank’s common shares was traded immediately preceding the Investment Period.
There may also be a discount of up to 5% from such Average Market Price (as defined in the Plan) if the Bank issues new common shares from its treasury.
Commencing with the common share dividend declared for the fourth quarter of fiscal 2020, and subsequently until further notice, such additional common shares will be purchased on the open market.
Optional cash payments of up to $40,000 (Canadian or U.S.) in each twelve month period ending October 31 will be used to purchase common shares under the Plan on the same average price basis as set forth above, without any discount.
The Plan is available to registered holders of common shares and registered holders of any series of either class A or B preferred shares of the Bank which have been determined to be eligible to participate in the Plan. Participation in the Plan is only open to residents of Canada and the US. All administrative expenses, including brokerage commissions, fees or other expenses of the Agent, will be paid by the Bank.
The common shares of the Bank are listed on the Toronto Stock Exchange and on The New York Stock Exchange.
To access the Plan documents, please visit: www.computershare.com/bmo
For any questions regarding the Plan, please contact the Bank’s transfer agent at:
Computershare Trust Company of Canada
100 University Avenue, 8th Floor
Toronto, ON M5J 2Y1
Tel: 1-800-340-5021 (Canada and U.S.) | 514-982-7800 (All other countries)