Dividend Growth Stock VI

Bank of Montreal BMO

“Founded in 1817 as Bank of Montreal, today BMO Financial Group is a highly diversified financial services provider. We offer clients a broad range of personal, commercial, corporate and institutional financial services across Canada and in the United States through BMO Bank of Montreal, BMO Nesbitt Burns, BMO Capital Markets and our Chicago-based subsidiary, Harris Bank.”

-founded in 1817
-policy to payout 45% to 55%
-paid dividends for over a century
-dividend increased 80% from 2002 to 2006
-current yield of 4.2%
-trailing P/E 13.4
-2007 estimated P/E 11.5
-2008 estimated P/E 10.8
-ROE 19%