News Releases

The Board of Directors of Bank of Montreal today declared a quarterly dividend of 44 cents a share on paid-up common shares of Bank of Montreal for the fourth quarter of fiscal year 2004, up 4 cents from the previous quarter.

For the current quarter, the board also declared a dividend of 30.00 cents a share on paid-up Class B Preferred Shares Series 4, a dividend of 33.125 cents a share on paid-up Class B Preferred Shares Series 5, a dividend of 29.6875 cents a share on paid-up Class B Preferred Shares Series 6, and a dividend of U.S. 37.1875 cents a share on paid-up Class B Preferred Shares Series 10 of BMO.

The board also declared a dividend of 13.573 cents a share on paid-up Class B Preferred Shares Series 3, which will be redeemed on September 30, 2004 and this amount represents a dividend for the period of August 25^th to September 30^th.

The dividend on the common shares is payable November 29, 2004 to shareholders of record on November 5, 2004. The dividends on the preferred shares, except for Series 3 are payable November 25, 2004 to shareholders of record on November 5, 2004.

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