TD - Bank Of Montreal: Lagging Its Peers In Dividend Growth
Investment Thesis
The Bank of Montreal (BMO) has rewarded shareholders with a reliable dividend for almost two centuries. The company has a strong balance sheet and an improving efficiency ratio. BMO has an attractive business mix with a growing portion of revenue coming from its U.S. and Wealth Management divisions. One of BMO's differentiating characteristics is its relatively low exposure to the Canadian housing market compared to its peers. While this is attractive for investors who are concerned about the Canadian housing sector, the bank has lagged its peers in dividend growth. Among