Distribution Policy
For historical distribution amounts,
please see distribution
information.
Redemption
All Capital Shares and Preferred Shares were redeemed on August 5, 2009. Preferred Shares were redeemed at $27.45 per share.
Capital Shares:
- Capital Shares were redeemed at $12.6596 per
share; or
- Holders of 168,318 Capital Shares requested
delivery of and received their pro rata share of Bank of Montreal common shares in payment for their Capital Shares.
Taxation
Dividends other than the capital gains dividends received by
individuals on the Preferred or Capital Shares will be subject to the
normal gross-up and dividend tax credit rules applicable to dividends
received on shares of a taxable Canadian corporation.
The amount of any capital gains dividend received by a holder of
Preferred or Capital Shares will be considered to be a capital gain of
the holder in the taxation year in which the capital gains dividend is
received.
Return of capital payments to a holder of Preferred Shares will
not be subject to tax but will reduce the adjusted cost base of the
Preferred Shares to the holder.
The Company qualifies as a “mutual fund corporation”
and a “financial intermediary corporation” as defined in the
Income Tax Act (Canada). As a result thereof and after deduction of
expenses in computing its income, the Company does not anticipate that
it will be subject to any material net non-refundable tax liability.
