Dividends on the Series A preference shares will accrue from September 22, 2005 and will be payable when, as and if declared by our board of directors quarterly on the 15th calendar day of March, June, September and December of each year, commencing December 15, 2005. Dividends on the Series A preference shares will be payable at a rate of 6.20% per annum.
Dividends on the Series A preference shares will be non-cumulative. Accordingly, if for any reason our board of directors does not declare a dividend on the Series A preference shares for a dividend period, we will not pay a dividend for that dividend period on the dividend payment date for that dividend period or at any future time, whether or not our board of directors declares dividends on the Series A preference shares for any subsequent dividend period. However, we may not declare or pay dividends or distributions on any class of our shares ranking lower in the right to dividends than the Series A preference shares and we may not redeem or purchase in any manner any of our other shares ranking equal or lower than the Series A preference shares, unless we have paid in full, or set aside an amount to provide for payment in full, of the dividends on the Series A preference shares for the then-current dividend period.
We may redeem the Series A preference shares on any date on or after December 16, 2010, in whole (but not in part only), at a redemption price equal to $1,000 per Series A preference share (which is equal to $25 per Series A American depositary share) plus accrued and unpaid dividends for the then-current dividend period to the date fixed for redemption, subject to the prior consent of the UK Financial Services Authority (the ôFSAö).
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Bank of Montreal is a financial services provider based in North America. Co. conducts business through three operating groups: Personal and Commercial Banking, which provides customers with a range of financial products and services, including deposits, lending, and everyday financial and investment advice through a network of branches, dedicated contact centers, digital banking platforms and automated teller machines; BMO Wealth Management, which provides a range of wealth, asset management and insurance products and services; and BMO Capital Markets, which provides equity and debt investment and corporate banking services, as well as global market sales and trading solutions. Preferred: HBC.PR Open the BMO Information Page » |
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