Latest news with #BMOFinancialGroup
4 days ago
- Business
Inflation rate rose slightly to 1.9% in June as vehicle and clothing prices climb
This comes after Statistics Canada said the pace of inflation held steady in May at 1.7 per cent. Passenger vehicles were among the products where prices rose significantly in June — rising 4.1 per cent year over year, compared to a 3.2 per cent increase in May. In particular, used passenger vehicles rose in price, marking the first year-over-year increase in 18 months, according to Statistics Canada. New cars also increased in price, with the inflation rate climbing to 5.2 per cent in May. Costs for clothing and footwear also accelerated last month, rising two per cent year over year in June. The agency says that came as a result of tariff uncertainty hitting the clothing industry in particular. Annual inflation rate in Canada | See interactive charts here (new window) And in the grocery aisle, prices rose 2.8 per cent, after rising 3.3 per cent the month prior. Price growth in that category slowed in large part due to price decreases for fresh fruits and vegetables — the first decline in that category since October 2021, says the data agency. The headline inflation figure is in line with what economists were expecting — in a poll by Reuters ahead of the release, economists predicted the annual pace of inflation would rise to 1.9 per cent for the month. Douglas Porter, chief economist at BMO Financial Group, said that inflation showed no real improvement in June, in part because pressures of the trade war pushed some prices up. As a result, Porter says it's unlikely the Bank of Canada will cut interest rates later this month. If the solid employment report was the icing on the cake for that decision, this is the cherry on top, Porter said in a note. We'll need to see a material deceleration [in inflation] … for a cut in even the September meeting to be in play. South of the border, inflation was also on the rise — consumer prices rose 2.7 per cent in June from a year earlier, up from an annual increase of 2.4 per cent in May, according to the U.S. Department of Labor. The uptick there was driven by a range of higher prices. The cost of gas rose one per cent just from May to June, while grocery prices increased 0.35. Appliance prices jumped for the third straight month. With files from the Associated Press This news story is also available in Tagalog
Cision Canada
08-07-2025
- Business
- Cision Canada
BMO to Redeem Non-Cumulative 5-Year Rate Reset Class B Preferred Shares, Series 33 (Non-Viability Contingent Capital (NVCC)) Français
TORONTO, July 8, 2025 /CNW/ - Bank of Montreal (the "Bank") (TSX: BMO)(NYSE:BMO) today announced its intention to redeem all of its 8,000,000 outstanding Non-Cumulative 5-Year Rate Reset Class B Preferred Shares, Series 33 (Non-Viability Contingent Capital (NVCC)) (the "Preferred Shares Series 33") (TSX: for an aggregate total of $200 million on August 25, 2025. The redemption has been approved by the Office of the Superintendent of Financial Institutions. 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.
Cision Canada
25-06-2025
- Business
- Cision Canada
/C O R R E C T I O N from Source -- BMO Financial Group - ETFs/ Français Français English
In the news release, BMO Announces Cash and Reinvested Distributions for Certain BMO ETFs and ETF Series of BMO Mutual Funds for June 2025, issued June 20, 2025 by BMO Financial Group - Communications over Cision, the monthly cash distribution per unit amount for ticker symbol ZXCO was incorrect. The complete, corrected news release follows: BMO Announces Cash and Reinvested Distributions for Certain BMO ETFs and ETF Series of BMO Mutual Funds for June 2025 TORONTO, June 20, 2025 /CNW/ - BMO Asset Management Inc., as manager of the BMO ETFs, and BMO Investments Inc., as manager of the BMO Mutual Funds, today announced the June 2025 cash and reinvested distributions for unitholders of BMO ETFs and unitholders of exchange-traded series of units of the BMO Mutual Funds (collectively, the "ETF Series") that distribute monthly and quarterly, as set out in the table below. Unitholders of record of the BMO ETFs and the ETF Series of the BMO Mutual Funds at the close of business on June 27, 2025 will receive cash distributions payable on July 3, 2025. The ex-dividend date and record date for all BMO ETFs and ETF Series of BMO Mutual Funds is June 27, 2025. Details of the per unit cash distribution amount are as follows: Monthly Distributions FUND NAME FUND TICKER CASH DISTRIBUTION PER UNIT $ BMO Aggregate Bond Index ETF ZAG 0.040 BMO Canadian MBS Index ETF ZMBS 0.060 BMO Discount Bond Index ETF ZDB 0.030 BMO Emerging Markets Bond Hedged to CAD Index ETF ZEF 0.045 BMO Equal Weight Banks Index ETF ZEB 0.145 BMO Equal Weight REITs Index ETF ZRE 0.090 BMO Equal Weight Utilities Index ETF ZUT 0.070 BMO High Yield US Corporate Bond Hedged to CAD Index ETF ZHY 0.056 BMO High Yield US Corporate Bond Index ETF ZJK 0.090 BMO High Yield US Corporate Bond Index ETF (USD Units)* ZJK.U 0.085 BMO Laddered Preferred Share Index ETF ZPR 0.050 BMO Laddered Preferred Share Index ETF (USD Units)* ZPR.U 0.080 BMO Long Corporate Bond Index ETF ZLC 0.060 BMO Long Federal Bond Index ETF ZFL 0.030 BMO Long Provincial Bond Index ETF ZPL 0.037 BMO Mid Corporate Bond Index ETF ZCM 0.055 BMO Mid Federal Bond Index ETF ZFM 0.030 BMO Mid Provincial Bond Index ETF ZMP 0.035 BMO Mid-Term US IG Corporate Bond Hedged to CAD Index ETF ZMU 0.044 BMO Mid-Term US IG Corporate Bond Index ETF ZIC 0.061 BMO Mid-Term US IG Corporate Bond Index ETF (USD Units)* ZIC.U 0.045 BMO Real Return Bond Index ETF ZRR 0.050 BMO Short Corporate Bond Index ETF ZCS 0.045 BMO Short Federal Bond Index ETF ZFS 0.030 BMO Short Provincial Bond Index ETF ZPS 0.030 BMO Short-Term US IG Corporate Bond Hedged to CAD Index ETF ZSU 0.045 BMO US Aggregate Bond Index ETF ZUAG 0.065 BMO US Aggregate Bond Index ETF (Hedged Units) ZUAG.F 0.065 BMO US Aggregate Bond Index ETF (USD Units)* ZUAG.U 0.065 BMO US Preferred Share Hedged to CAD Index ETF ZHP 0.090 BMO US Preferred Share Index ETF ZUP 0.110 BMO US Preferred Share Index ETF (USD Units)* ZUP.U 0.100 BMO Balanced ETF (Fixed Percentage Distribution Units) ZBAL.T 0.155 BMO Canadian Dividend ETF ZDV 0.070 BMO Canadian High Dividend Covered Call ETF ZWC 0.100 BMO Covered Call Canadian Banks ETF ZWB 0.110 BMO Covered Call Canadian Banks ETF (USD Units)* ZWB.U 0.140 BMO Covered Call Dow Jones Industrial Average Hedged to CAD ETF ZWA 0.130 BMO Covered Call Energy ETF ZWEN 0.220 BMO Covered Call Health Care ETF ZWHC 0.160 BMO Covered Call Technology ETF ZWT 0.220 BMO Covered Call US Banks ETF ZWK 0.145 BMO Covered Call Utilities ETF ZWU 0.070 BMO Europe High Dividend Covered Call ETF ZWP 0.105 BMO Europe High Dividend Covered Call Hedged to CAD ETF ZWE 0.120 BMO Floating Rate High Yield ETF ZFH 0.070 BMO Global High Dividend Covered Call ETF ZWG 0.175 BMO Growth ETF (Fixed Percentage Distribution Units) ZGRO.T 0.180 BMO International Dividend ETF ZDI 0.080 BMO International Dividend Hedged to CAD ETF ZDH 0.080 BMO Monthly Income ETF ZMI 0.070 BMO Monthly Income ETF (USD Units)* ZMI.U 0.120 BMO Premium Yield ETF ZPAY 0.200 BMO Premium Yield ETF (Hedged Units) ZPAY.F 0.175 BMO Premium Yield ETF (USD Units) * ZPAY.U 0.180 BMO Ultra Short-Term Bond ETF ZST 0.112 BMO Ultra Short-Term US Bond ETF (USD Units)* ZUS.U 0.180 BMO USD Cash Management ETF ZUCM 0.107 BMO USD Cash Management ETF (USD Units)* ZUCM.U 0.104 BMO US Dividend ETF ZDY 0.070 BMO US Dividend ETF (USD Units)* ZDY.U 0.050 BMO US Dividend Hedged to CAD ETF ZUD 0.045 BMO US High Dividend Covered Call ETF ZWH 0.130 BMO US High Dividend Covered Call ETF (USD Units)* ZWH.U 0.125 BMO US High Dividend Covered Call Hedged to CAD ETF ZWS 0.105 BMO US Put Write ETF ZPW 0.125 BMO US Put Write ETF (USD Units)* ZPW.U 0.125 BMO US Put Write Hedged to CAD ETF ZPH 0.120 BMO Global Enhanced Income Fund (ETF Series) ZWQT 0.085 BMO Global Dividend Opportunities Fund (Active ETF Series) BGDV 0.034 BMO Global REIT Fund (Active ETF Series) BGRT 0.055 BMO Money Market Fund (ETF Series) ZMMK 0.120 BMO Global Infrastructure Fund (Active ETF Series) BGIF 0.050 BMO AAA CLO ETF ZAAA 0.135 BMO AAA CLO ETF (Hedged Units) ZAAA.F 0.134 BMO AAA CLO ETF (USD Units)* ZAAA.U 0.134 BMO Canadian Core Plus US Balanced ETF ZBCB 0.060 BMO US Dividend Growth ETF ZBDU 0.070 BMO US Dividend Growth ETF (Hedged Units) ZBDU.F 0.070 BMO Covered Call Spread Gold Bullion ETF ZWGD 0.125 Quarterly Distributions FUND NAME FUND TICKER CASH DISTRIBUTION PER UNIT $ BMO BBB Corporate Bond Index ETF ZBBB 0.290 BMO Canadian Bank Income Index ETF ZBI 0.320 BMO Corporate Bond Index ETF ZCB 0.470 BMO Dow Jones Industrial Average Hedged to CAD Index ETF ZDJ 0.190 BMO Equal Weight Industrials Index ETF ZIN 0.150 BMO Equal Weight Oil & Gas Index ETF ZEO 0.660 BMO Equal Weight US Banks Hedged to CAD Index ETF ZUB 0.185 BMO Equal Weight US Banks Index ETF ZBK 0.195 BMO ESG Corporate Bond Index ETF ESGB 0.265 BMO ESG US Corporate Bond Hedged to CAD Index ETF ESGF 0.240 BMO Global Communications Index ETF COMM 0.120 BMO Global Consumer Discretionary Hedged to CAD Index ETF DISC 0.075 BMO Global Consumer Staples Hedged to CAD Index ETF STPL 0.130 BMO Global Infrastructure Index ETF ZGI 0.350 BMO Government Bond Index ETF ZGB 0.320 BMO High Quality Corporate Bond Index ETF ZQB 0.270 BMO Japan Index ETF ZJPN 0.150 BMO Japan Index ETF (Hedged Units) ZJPN.F 0.190 BMO Long-Term US Treasury Bond Index ETF ZTL 0.280 BMO Long-Term US Treasury Bond Index ETF (Hedged Units) ZTL.F 0.240 BMO Long-Term US Treasury Bond Index ETF (USD Units)* ZTL.U 0.270 BMO Mid-Term US Treasury Bond Index ETF ZTM 0.360 BMO Mid-Term US Treasury Bond Index ETF (USD Units)* ZTM.U 0.360 BMO MSCI ACWI Paris Aligned Climate Equity Index ETF ZGRN 0.110 BMO MSCI All Country World High Quality Index ETF ZGQ 0.120 BMO MSCI Canada Selection Equity Index ETF ESGA 0.250 BMO MSCI Canada Value Index ETF ZVC 0.210 BMO MSCI EAFE Selection Equity Index ETF ESGE 0.220 BMO MSCI EAFE Hedged to CAD Index ETF ZDM 0.180 BMO MSCI EAFE High Quality Index ETF ZIQ 0.120 BMO MSCI EAFE Index ETF ZEA 0.150 BMO MSCI Europe High Quality Hedged to CAD Index ETF ZEQ 0.130 BMO MSCI Global Selection Equity Index ETF ESGG 0.150 BMO MSCI USA Selection Equity Index ETF ESGY 0.110 BMO MSCI USA Selection Equity Index ETF (Hedged Units) ESGY.F 0.090 BMO MSCI USA High Quality Index ETF ZUQ 0.110 BMO MSCI USA High Quality Index ETF (Hedged Units) ZUQ.F 0.070 BMO MSCI USA High Quality Index ETF (USD Units)* ZUQ.U 0.075 BMO MSCI USA Value Index ETF ZVU 0.150 BMO S&P 500 Hedged to CAD Index ETF ZUE 0.200 BMO S&P 500 Index ETF ZSP 0.210 BMO S&P 500 Index ETF (USD Units)* ZSP.U 0.160 BMO S&P/TSX 60 Index ETF ZIU 0.400 BMO S&P/TSX Capped Composite Index ETF ZCN 0.230 BMO S&P US Mid Cap Index ETF ZMID 0.130 BMO S&P US Mid Cap Index ETF (Hedged Units) ZMID.F 0.120 BMO S&P US Mid Cap Index ETF (USD Units)* ZMID.U 0.130 BMO S&P US Small Cap Index ETF ZSML 0.130 BMO S&P US Small Cap Index ETF (Hedged Units) ZSML.F 0.120 BMO S&P US Small Cap Index ETF (USD Units)* ZSML.U 0.130 BMO Short-Term Bond Index ETF ZSB 0.390 BMO Short-Term US TIPS Index ETF ZTIP 0.270 BMO Short-Term US TIPS Index ETF (Hedged Units) ZTIP.F 0.240 BMO Short-Term US TIPS Index ETF (USD Units)* ZTIP.U 0.250 BMO Short-Term US Treasury Bond Index ETF ZTS 0.360 BMO Short-Term US Treasury Bond Index ETF (USD Units)* ZTS.U 0.350 BMO All-Equity ETF ZEQT 0.220 BMO Balanced ESG ETF ZESG 0.180 BMO Balanced ETF ZBAL 0.220 BMO Conservative ETF ZCON 0.220 BMO Corporate Discount Bond ETF ZCDB 0.140 BMO Global Agriculture ETF ZEAT 0.130 BMO Growth ETF ZGRO 0.220 BMO Long Short Canadian Equity ETF ZLSC 0.160 BMO Long Short US Equity ETF ZLSU 0.120 BMO Low Volatility Canadian Equity ETF ZLB 0.280 BMO Low Volatility International Equity ETF ZLI 0.160 BMO Low Volatility International Equity Hedged to CAD ETF ZLD 0.170 BMO Low Volatility US Equity ETF ZLU 0.270 BMO Low Volatility US Equity ETF (USD Units)* ZLU.U 0.190 BMO Low Volatility US Equity Hedged to CAD ETF ZLH 0.170 BMO Short-Term Discount Bond ETF ZSDB 0.100 BMO US Equity Buffer Hedged to CAD ETF – January ZJAN 0.042 BMO US Equity Buffer Hedged to CAD ETF – April ZAPR 0.041 BMO US Equity Buffer Hedged to CAD ETF – July ZJUL 0.041 BMO US Equity Buffer Hedged to CAD ETF – October ZOCT 0.043 BMO Brookfield Global Real Estate Tech Fund (ETF Series) TOWR 0.120 BMO Brookfield Global Renewables Infrastructure Fund (ETF Series) GRNI 0.160 BMO Core Plus Bond Fund (ETF Series) ZCPB 0.200 BMO Global Innovators Fund (Active ETF Series) BGIN 0.020 BMO Global Strategic Bond Fund (ETF Series) ZGSB 0.300 BMO Sustainable Global Multi-Sector Bond Fund (ETF Series) ZMSB 0.250 BMO Tactical Dividend ETF Fund (ETF Series) ZZZD 0.300 BMO Target 2027 Canadian Corporate Bond ETF ZXCO 0.090 BMO Target 2028 Canadian Corporate Bond ETF ZXCP 0.100 BMO Target 2029 Canadian Corporate Bond ETF ZXCQ 0.100 Quarterly Distributions - Automatically Reinvested The following quarterly cash distributions are distributed and automatically reinvested in additional Accumulating Units of the applicable BMO ETF, which are consolidated immediately. *Cash distribution per unit ($) amounts are USD for ZAAA.U, ZJK.U, ZPR.U, ZIC.U, ZUAG.U, ZUP.U, ZWB.U, ZMI.U, ZPAY.U, ZUS.U, ZUCM.U, ZDY.U, ZWH.U, ZPW.U, ZTL.U, ZTM.U, ZUQ.U, ZSP.U, ZMID.U, ZSML.U, ZTIP.U, ZTS.U, and ZLU.U. Further information about BMO ETFs and ETF Series of the BMO Mutual Funds can be found at Commissions, management fees and expenses all may be associated with investments in BMO ETFs and ETF Series of the BMO Mutual Funds. Please read the applicable ETF Facts document or prospectus before investing. BMO ETFs and ETF Series of the BMO Mutual Funds are not guaranteed, their values change frequently, and past performance may not be repeated. For a summary of the risks of an investment in the BMO ETFs or ETF Series of the BMO Mutual Funds, please see the specific risks set out in the simplified prospectus. Units of the BMO ETFs and ETF Series securities of the BMO Mutual Funds may be bought and sold at market price on a stock exchange and brokerage commissions will reduce returns. Distributions are not guaranteed and are subject to change and/or elimination. BMO ETFs are managed by BMO Asset Management Inc., which is an investment fund manager and a portfolio manager, and a separate legal entity from Bank of Montreal. The ETF Series of the BMO Mutual Funds are managed by BMO Investments Inc., which is an investment fund manager and a separate legal entity from Bank of Montreal. "BMO (M-bar roundel symbol)" is a registered trademark of Bank of Montreal, used under licence. 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.
CTV News
19-06-2025
- Business
- CTV News
BMO acquires independent asset manager Burgundy for $625 million
BNN Bloomberg is Canada's definitive source for business news dedicated exclusively to helping Canadians invest and build their businesses. Sorry, we're having trouble with this video. Please try again later. [5006/404] BMO Financial Group announced Thursday that it is buying Burgundy Asset Management Ltd., a Toronto-based private investment firm, for approximately $625 million in shares. In a news release, BMO called Burgundy a 'leading independent wealth manager' that provides 'discretionary investment management' for its clients, which include private individuals, foundations and endowments. Burgundy will become part of BMO's wealth management unit, strengthening its reach into the Canadian investment space catering to 'high-net-worth and ultra-high-net-worth clients,' the bank said. As of May 31, Burgundy had approximately $27 billion in assets under management, according to the release. The company, founded in 1990, has 150 employees with offices in Toronto, Vancouver and Montreal. 'Burgundy Asset Management is one of Canada's most respected independent investment managers known for its high calibre team, rigorous investment process and dedicated service to private clients, institutions and family offices,' Deland Kamanga, group head of wealth management at BMO, said in the release. 'The acquisition will build on BMO's heritage as a client-focused wealth manager while expanding our wealth advice and private investment counsel offering.' Burgundy's current chief executive, Robert Sankey, will continue to lead the business going forward, and co-founders Tony Arrell and Richard Rooney will also remain with the company, BMO said. 'It has always been our intention to build Burgundy for the long run, so we can serve our clients and their families across generations,' Arrell, who also serves as chairman of Burgundy, said in the release. 'We are happy to be joining BMO, a North American leader, and believe this is a great opportunity to continue to serve our clients well into the future.'
Hamilton Spectator
19-06-2025
- Business
- Hamilton Spectator
BMO Financial Group to buy Burgundy Asset Management for $625 million
TORONTO - BMO Financial Group has signed a deal to buy Burgundy Asset Management Ltd. for $625 million in shares. Burgundy provides discretionary investment management for private clients, foundations, endowments, pensions and family offices. It had about $27 billion in assets under management as of May 31. Under the deal, Burgundy will operate as part of BMO Wealth Management. Burgundy chief executive Robert Sankey will continue to lead the business, while Burgundy co-founders Tony Arrell and Richard Rooney will also remain. The transaction is expected to close by the end of the year, subject to customary closing conditions including regulatory approvals. This report by The Canadian Press was first published June 19, 2025. Companies in this story: (TSX:BMO)
