Bank of Montreal 2015 Annual Report Download - page 157

Notes
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
Note 17: Equity
Share Capital
(Canadian $ in millions, except as noted) 2015 2014 2013
Number
of shares Amount
Dividends
declared
per share
Number
of shares Amount
Dividends
declared
per share
Number
of shares Amount
Dividends
declared
per share
Preferred Shares – Classified as Equity
Class B – Series 13 – – 0.56 14,000,000 350 1.13 14,000,000 350 1.13
Class B – Series 14 10,000,000 250 1.31 10,000,000 250 1.31 10,000,000 250 1.31
Class B – Series 15 10,000,000 250 1.45 10,000,000 250 1.45 10,000,000 250 1.45
Class B – Series 16 6,267,391 157 0.85 6,267,391 157 0.85 6,267,391 157 1.19
Class B – Series 17 5,732,609 143 0.60 5,732,609 143 0.64 5,732,609 143 0.17
Class B – Series 18 (1) –– – – – 0.41 6,000,000 150 1.63
Class B – Series 21 (2) –– – – – 0.81 11,000,000 275 1.63
Class B – Series 23 – – 0.34 16,000,000 400 1.35 16,000,000 400 1.35
Class B – Series 25 11,600,000 290 0.98 11,600,000 290 0.98 11,600,000 290 0.98
Class B – Series 27 20,000,000 500 1.00 20,000,000 500 0.59 – – –
Class B – Series 29 16,000,000 400 0.98 16,000,000 400 0.46 – – –
Class B – Series 31 12,000,000 300 0.95 12,000,000 300 0.31 – – –
Class B – Series 33 8,000,000 200 0.45 –– – –– –
Class B – Series 35 6,000,000 150 0.41 –– – –– –
Class B – Series 36 600,000 600 – –– – –– –
3,240 3,040 2,265
Common Shares
Balance at beginning of year 649,050,049 12,357 644,129,945 12,003 650,729,644 11,957
Issued under the Shareholder Dividend
Reinvestment and Share Purchase Plan 690,471 58 2,786,997 223 2,069,269 130
Issued/cancelled under the Stock Option Plan
and other stock-based compensation plans
(Note 22) 842,821 51 2,133,107 131 2,068,132 116
Repurchased for cancellation (8,000,000) (153) – – (10,737,100) (200)
Balance at End of Year 642,583,341 12,313 3.24 649,050,049 12,357 3.08 644,129,945 12,003 2.94
Share Capital 15,553 15,397 14,268
(1) During the year ended October 31, 2014, we redeemed all of our Class B – Series 18 Preferred Shares. Dividends declared for the year ended October 31, 2014 were $0.41 per share and 6 million
shares were outstanding at the time of the dividend declaration.
(2) During the year ended October 31, 2014, we redeemed all of our Class B – Series 21 Preferred Shares. Dividends declared for the year ended October 31, 2014 were $0.81 per share and 11 million
shares were outstanding at the time of the dividend declaration.
Preferred Shares
We are authorized by our shareholders to issue an unlimited number of Class A Preferred Shares and Class B Preferred Shares without par value, in
series, for unlimited consideration. Class B Preferred Shares may be issued in a foreign currency.
On October 16, 2015, we issued 600,000 Non-Cumulative 5-Year Rate Reset Class B Preferred Shares, Series 36, at a price of $1,000.00 per share,
for gross proceeds of $600 million.
On July 29, 2015, we issued 6 million Non-Cumulative Perpetual Class B Preferred Shares, Series 35, at a price of $25.00 cash per share, for gross
proceeds of $150 million.
On June 5, 2015, we issued 8 million Non-Cumulative 5-Year Rate Reset Class B Preferred Shares, Series 33, at a price of $25.00 cash per share,
for gross proceeds of $200 million.
On July 30, 2014, we issued 12 million Non-Cumulative 5-Year Rate Reset Class B Preferred Shares, Series 31, at a price of $25.00 cash per share,
for gross proceeds of $300 million.
On June 6, 2014, we issued 16 million Non-Cumulative 5-Year Rate Reset Class B Preferred Shares, Series 29, at a price of $25.00 cash per share,
for gross proceeds of $400 million.
On April 23, 2014, we issued 20 million Non-Cumulative 5-Year Rate Reset Class B Preferred Shares, Series 27, at a price of $25.00 cash per
share, for gross proceeds of $500 million.
During the year ended October 31, 2013, we did not issue any preferred shares.
During the year ended October 31, 2015, we redeemed all of our Non-Cumulative Class B Preferred Shares, Series 13, at a redemption price of
$25.25 per share for a gross redemption of $353 million. Dividends declared for the year ended October 31, 2015 were $0.56 per share and 14 million
shares were outstanding at the time of the dividend declaration. On February 25, 2015, we also redeemed all of our Non-Cumulative Class B Preferred
Shares, Series 23, at a redemption price of $25.00 per share plus declared and unpaid dividends up to but excluding the date fixed for redemption.
Dividends declared for the year ended October 31, 2015 were $0.34 per share and 16 million shares were outstanding at the time of the dividend
declaration.
During the year ended October 31, 2014, we redeemed all of our Non-Cumulative Class B Preferred Shares, Series 18, at a redemption price of
$25.00 per share plus declared and unpaid dividends up to but excluding the date fixed for redemption. Dividends declared for the year ended
October 31, 2014 were $0.41 per share and 6 million shares were outstanding at the time of the dividend declaration. We also redeemed all of our
Non-Cumulative Class B Preferred Shares, Series 21, at a redemption price of $25.00 per share plus declared and unpaid dividends up to but excluding
the date fixed for redemption. Dividends declared for the year ended October 31, 2014 were $0.81 per share and 11 million shares were outstanding
at the time of the dividend declaration.
170 BMO Financial Group 198th Annual Report 2015