BMO to Redeem Non-Cumulative 5-Year Rate Reset Class B Preferred Shares, Series 33 (Non-Viability Contingent Capital (NVCC)) Français
The Preferred Shares Series 33 are redeemable at the Bank's option on August 25, 2025 (the "Redemption Date") at a redemption price of $25.00 per share. Payment of the redemption price will be made by the Bank on the Redemption Date.
Separately from the payment of the redemption price, the final quarterly dividend of $0.190875 per share for the Preferred Shares Series 33 announced by the Bank on May 28, 2025 will be paid in the usual manner on August 25, 2025, to shareholders of record on July 30, 2025.
Notice will be delivered to holders of the Preferred Shares Series 33 in accordance with the terms thereof.
About BMO Financial Group
BMO Financial Group is the seventh largest bank in North America by assets, with total assets of $1.4 trillion as of April 30, 2025. Serving customers for 200 years and counting, BMO is a diverse team of highly engaged employees providing a broad range of personal and commercial banking, wealth management, global markets and investment banking products and services to 13 million customers across Canada, the United States, and in select markets globally. Driven by a single purpose, to Boldly Grow the Good in business and life, BMO is committed to driving positive change in the world, and making progress for a thriving economy, sustainable future, and inclusive society.
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Net cash provided by (used in) financing activities (323,422) (24,449) Cash flows from investing activities Purchase of investments (352) (282) Purchase of intangibles (806) (4,562) Purchase of property, plant and equipment (2,173) (425) Proceeds from investments 5,197 2 Proceeds from sale of discontinued operations, net of cash disposed 655,811 - Income taxes paid on disposal of discontinued operations (20,027) - Net cash provided by (used in) investing activities 637,650 (5,267) Effect of foreign currency translation (10,566) 456 Net increase (decrease) in cash and cash equivalents 332,122 7,580 Cash and cash equivalents, beginning of period 50,592 41,892 Cash and cash equivalents, end of period $ 382,714 $ 49,472 Reconciliation of Profit (Loss) to Adjusted EBITDA and Adjusted Earnings (Loss) The following table provides a reconciliation of Profit (Loss) to Adjusted EBITDA and Adjusted Earnings (Loss): Three months ended June 30, Six months ended June 30, In thousands of dollars, except for per share amounts 2025 2024 (1) 2025 2024 (1) Profit (loss) for the period $ 8,764 $ 2,284 $ 384,548 $ 2,131 (Profit) loss from discontinued operations, net of tax 513 (10,918) (381,694) (22,917) Occupancy costs calculated on a similar basis prior to the adoption of IFRS 16 (2) (2,218) (2,775) (4,431) (5,218) Depreciation of right-of-use assets 1,934 2,194 4,028 4,254 Depreciation of property, plant and equipment and amortization of intangibles (8) 8,372 8,863 16,669 18,224 Acquisition and related transition costs (income) 48 5,373 66 8,869 Unrealized foreign exchange (gain) loss (3) 664 (475) (1,162) (1,746) (Gain) loss on disposal of right-of-use assets, property, plant and equipment and intangibles (3) 15 1,056 27 1,571 Share of (profit) loss of joint venture (352) (664) (121) (506) Non-cash share-based compensation costs (4) 3,807 3,353 6,279 6,886 (Gain) loss on equity derivatives net of mark-to-market adjustments on related RSUs and DSUs (4) 98 417 2,664 (2,174) Restructuring costs (recovery) 920 1,929 7,137 7,105 (Gain) loss on investments (5) (132) 55 6 241 Other non-operating and/or non-recurring (income) costs (6) 2,395 1,573 3,628 2,456 Finance costs (income), net – leases 354 195 599 359 Finance costs (income), net – other (9) (184) 4,534 (1,696) 8,660 Income tax expense (recovery) (10) 3,517 991 7,711 712 Adjusted EBITDA $ 28,515 $ 17,985 $ 44,258 $ 28,907 Depreciation of property, plant and equipment and amortization of intangibles of non-acquired businesses (8) (1,811) (1,494) (2,758) (3,211) Finance (costs) income, net – other (9) 184 (4,534) 1,696 (8,660) (Gain) loss on hedging transactions, including currency forward contracts and interest expense (income) on swaps (9) 1,179 (78) 2,029 (975) Tax effect of adjusted earnings (loss) adjustments (10) (6,176) (5,553) (14,481) (10,092) Adjusted earnings (loss)* $ 21,891 $ 6,326 $ 30,744 $ 5,969 Weighted average number of shares – basic 43,841,362 45,782,032 44,824,199 45,657,634 Weighted average number of restricted shares 91,003 331,672 91,697 375,090 Weighted average number of shares – adjusted 43,932,365 46,113,704 44,915,896 46,032,724 Adjusted earnings (loss) per share (7) $0.50 $0.14 $0.68 $0.13 (1) Comparative figures have been restated to reflect discontinued operations. 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The fund sports an 11.2% 30-day SEC yield (as of June 30), so it could be a great way for investors who are primarily focused on passive income. However, the Value ETF offers a way to get a higher yield than the S&P 500 without having any cap on upside potential. The Schwab U.S. Dividend Equity ETF (NYSEMKT: SCHD) doesn't use call options to achieve its high 3.9% yield. But many of its holdings are arguably lesser quality companies than what you'll find in the Value ETF. The Vanguard Value ETF remains a top fund to buy now The Value ETF is a good buy if you already own many of the top growth stocks in the S&P 500 and are looking to diversify your portfolio into different companies and boost your passive income. It's also a good option for investors who want to participate in the broader market and collect more passive income than the S&P 500. While there are plenty of ETFs that offer higher yields than the Value ETF, I would argue that the quality of companies in the ETF makes it one of the best ways to consistently collect more passive income than the index. Should you invest $1,000 in Vanguard Index Funds - Vanguard Value ETF right now? Before you buy stock in Vanguard Index Funds - Vanguard Value ETF, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Vanguard Index Funds - Vanguard Value ETF wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $636,563!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $1,108,033!* Now, it's worth noting Stock Advisor's total average return is 1,047% — a market-crushing outperformance compared to 181% for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of August 4, 2025 Bank of America is an advertising partner of Motley Fool Money. JPMorgan Chase is an advertising partner of Motley Fool Money. Daniel Foelber has positions in Nvidia and Procter & Gamble. The Motley Fool has positions in and recommends AbbVie, Alphabet, Amazon, Apple, Berkshire Hathaway, Home Depot, JPMorgan Chase, Meta Platforms, Microsoft, Nvidia, Oracle, Tesla, Vanguard Index Funds-Vanguard Value ETF, Vanguard S&P 500 ETF, and Walmart. The Motley Fool recommends Broadcom and Johnson & Johnson and recommends the following options: long January 2026 $395 calls on Microsoft and short January 2026 $405 calls on Microsoft. The Motley Fool has a disclosure policy.
