Bank of Montreal 1998 Annual Report Download - page 79

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71
BANK OF MONTREAL GROUP OF COMPANIES
CONSOLIDATED STATEMENT OF CHANGES
IN SHAREHOLDERS’ EQUITY
For the Year Ended October 31 (Canadian $ in millions) 1998 19 97 19 9 6
Preferred Shares (note 14)
Balance at beginning of year $ 1,274 $ 857 $ 858
Proceeds from the issue of preferred shares 650 400 –
Translation adjustment on shares issued in a foreign currency 34 17 (1)
Balance at End of Year 1,958 1,274 857
Number of Shares
1998 19 97 19 9 6
Common Shares (note 14)
Balance at beginning of year 261,436,344 259,937,006 263,684,556 3,019 2,989 3,002
Issued under the Shareholder Dividend
Reinvestment and Share Purchase Plan 399,155 ––29 ––
Issued under the Stock Option Plan 269,600 290,000 122,100 983
Issued on the exchange of shares
of Bank of Montreal Securities
Canada Limited 2,328,099 1,209,338 1,130,350 38 22 19
Purchased for cancellation –– (5,000,000) –– (57)
Stock options granted on acquisition of
an interest in an associated corporation –––––22
Balance at End of Year 264,433,198 261,436,344 259,937,006 3,095 3,019 2,989
Retained Earnings
Balance at beginning of year 4,610 3,740 3,172
Net income 1,350 1,305 1,168
Dividends – Preferred shares (112) (83) (69)
– Common shares (463) (427) (386)
Common shares purchased for cancellation –– (105)
Unrealized gain (loss) on translation of net investment
in foreign operations, net of hedging activities
and applicable income tax 178 81 (40)
Share issue expense, net of applicable income tax (8) (6) –
Balance at End of Year 5,555 4,610 3,740
Total Shareholders’ Equity $ 10,608 $ 8,903 $ 7,586
The accompanying notes to consolidated financial statements are an integral part of this statement.