Bank of Montreal 2000 Annual Report Download - page 94

70 ■Bank of Montreal Group of Companies Annual Report 2000
Supplemental Information
Table 1 Shareholder Value
As at or for the year ended October 31 2000 1999 1998 1997 1996 1995 1994 1993 1992 1991
Market Price per Common Share ($) (a)
High 71.600 69.600 87.000 61.600 41.650 31.000 30.750 27.375 24.125 19.188
Low 42.000 49.350 51.750 39.050 29.375 24.125 22.000 21.313 18.563 13.250
Close 70.500 56.650 63.100 60.850 40.550 29.750 25.125 26.875 23.563 18.688
Common Dividends
Dividends declared ($) (a) 2.00 1.88 1.76 1.64 1.48 1.32 1.20 1.12 1.06 1.06
Dividends paid ($) (a) 1.97 1.85 1.76 1.60 1.41 1.29 1.18 1.11 1.06 1.06
Dividend payout ratio (%) 30.2 39.6 37.4 35.0 35.1 38.2 40.3 43.3 44.7 46.0
Dividend yield (%) 3.5 2.9 2.9 3.9 4.7 5.1 4.4 4.7 5.7 7.9
Total Shareholder Return (TSR) (b)
TSR (%) 29.0 (7.4) 6.4 55.0 42.4 24.1 (2.3) 19.4 32.4 47.4
Five-year TSR (%) 22.9 22.0 23.3 26.1 22.2 23.1 14.3 20.6 19.8 9.1
Common Share Information
Number of common shares outstanding (in thousands) (a)
As at 261,292 267,032 264,433 261,436 259,937 263,685 265,457 249,094 244,819 238,770
Average
– basic 265,659 265,862 262,511 260,410 261,233 265,632 251,307 247,727 242,079 235,085
– fully diluted 271,085 272,573 269,048 268,700 268,362 273,919 256,496 252,634 245,131 235,085
Number of shareholder accounts 46,663 49,369 51,387 53,651 55,571 57,187 58,879 62,342 65,723 72,887
Total book value per common share ($) (a) 39.27 34.87 32.71 29.18 25.89 23.41 21.39 19.40 17.69 16.05
Total market value of common shares ($ billions) 18.4 15.1 16.7 15.9 10.5 7.8 6.7 6.7 5.8 4.5
Price-to-earnings ratio (times) 10.7 11.9 13.4 13.0 9.6 8.6 8.3 10.4 9.9 8.1
Market-to-book value (times) 1.8 1.62 1.93 2.09 1.57 1.27 1.17 1.39 1.33 1.16
Equity-to-assets ratio 5.44 4.93 5.00 4.36 4.56 4.74 4.85 4.93 4.80 4.65
Table 2 Earnings Growth ($ millions except as noted)
For the year ended October 31 2000 1999 1998 1997 1996 1995 1994 1993 1992 1991
Income Statement
Net interest income (TEB) (b) 4,338 4,417 4,152 4,186 3,711 3,564 3,325 3,207 3,038 2,734
Other income 4,326 3,511 3,118 2,981 2,516 2,102 1,871 1,654 1,404 1,261
Total revenues (TEB) (b) 8,664 7,928 7,270 7,167 6,227 5,666 5,196 4,861 4,442 3,995
Provision for credit losses 358 320 130 275 225 275 510 675 550 337
Non-interest expense 5,258 5,288 4,785 4,567 3,913 3,612 3,208 2,897 2,749 2,590
Income before provision for income taxes, non-
controlling interest in subsidiaries and goodwill 3,048 2,320 2,355 2,325 2,089 1,779 1,478 1,289 1,143 1,068
Income taxes (TEB) (b) 1,123 874 938 954 866 746 627 555 483 452
Non-controlling interest 19 212525201311646
Net income before goodwill 1,906 1,425 1,392 1,346 1,203 1,020 840 728 656 610
Amortization of goodwill,
net of applicable income tax 49 43 42 41 35 34 15 19 16 15
Net income 1,857 1,382 1,350 1,305 1,168 986 825 709 640 595
Year-over-year growth (%) 34.4 2.4 3.5 11.7 18.4 19.5 16.4 10.9 7.5 13.9
Earnings per Share (EPS) before Goodwill ($) (a)
Basic 6.79 4.92 4.88 4.85 4.35 3.58 3.07 2.67 2.45 2.37
Fully diluted 6.74 4.88 4.81 4.77 4.26 3.51 3.03 2.63 2.43 2.37
Year-over-year growth (%) 38.1 1.5 0.8 12.0 21.4 15.8 15.2 8.2 2.5 9.2
Earnings per Share (EPS) ($) (a)
Basic 6.61 4.76 4.72 4.69 4.21 3.45 3.01 2.59 2.38 2.31
Fully diluted 6.56 4.72 4.66 4.62 4.13 3.38 2.97 2.55 2.36 2.31
Year-over-year growth (%) 39.0 1.3 0.9 11.9 22.2 13.8 16.5 8.1 2.2 10.0
Basic Cash-Based Earnings per Share (EPS) ($) (c) 6.89 5.01 4.98 4.97 4.44 3.67 3.15 2.73 2.38 2.31
Year-over-year growth (%) 37.5 0.6 0.2 11.9 21.0 16.5 15.4 14.7 3.0 10.0
Table 3 Profitability ($ millions except as noted)
For the year ended October 31 2000 1999* 1998* 1997* 1996* 1995* 1994* 1993* 1992* 1991*
Net income 1,857 1,382 1,350 1,305 1,168 986 825 709 640 595
Preferred dividends 101 117 112 83 69 69 69 68 64 51
Net income available to common shareholders 1,756 1,265 1,238 1,222 1,099 917 756 641 576 544
Average common shareholders’ equity 9,745 8,976 8,128 7,165 6,457 5,937 5,088 4,564 4,072 3,623
Return on common shareholders’ equity (ROE) (%) 18.0 14.1 15.2 17.1 17.0 15.4 14.9 14.1 14.1 15.0
Return on average total equity (%) 16.3 12.8 13.8 15.8 16.0 14.5 13.9 13.1 13.2 14.2
Cash-based ROE (%) (d) 18.8 14.8 16.1 18.0 17.9 16.4 15.5 14.8 NA NA
Return on average assets (%) 0.79 0.61 0.59 0.66 0.74 0.68 0.68 0.63 0.61 0.63
Return on average assets available
to common shareholders (%) 0.75 0.56 0.54 0.62 0.69 0.64 0.62 0.57 0.55 0.58
*Restated to give effect to the current year’s presentation.
(a) Restated to reflect the effect of the two-for-one stock distribution completed in March 1993.
(b) Refer to the glossary on page 88 for a definition of the taxable equivalent basis (TEB) adjustment.
(c) Cash-based EPS is earnings per share as reported adjusted for the after-tax impact on earnings
of the amortization of non-cash goodwill and intangible assets.
(d) Cash-based ROE is return on common shareholders’ equity as reported adjusted for the
after-tax impact on earnings of the amortization of non-cash goodwill and intangible assets.
Equity is not adjusted to exclude non-cash goodwill and other valuation intangibles.