Bank of Montreal Receives Regulatory Approvals for Normal Course Issuer Bid

Share Repurchase Program - Bank of Montreal has received approvals from the Toronto Stock Exchange (TSX) and the Office of the Superintendent of Financial Institutions Canada (OSFI) to proceed with a normal course issuer bid to repurchase up to 20 million of its common shares, representing approximately 2.7% of its public float [1][2] - The share repurchase program will commence on January 22, 2025, and end no later than January 21, 2026, with purchases made through TSX facilities, other designated exchanges, or alternative Canadian trading systems [1] - The company established an automatic securities purchase plan on January 9, 2025, allowing its broker, BMO Nesbitt Burns Inc., to purchase shares under predefined criteria, with the actual number, timing, and price of purchases dependent on market conditions and capital adequacy [3] Share Structure and Trading Volume - As of January 6, 2025, Bank of Montreal had 729,953,297 common shares issued and outstanding, with a public float of 729,689,561 common shares [4] - The average daily trading volume for the six months ended December 31, 2024, was 3,072,276 common shares, while the daily maximum number of shares available for purchase under the bid was 768,069 common shares [4] Company Overview - Bank of Montreal is the eighth largest bank in North America by assets, with total assets of $1.41 trillion as of October 31, 2024 [11] - The company serves 13 million customers across Canada, the United States, and select global markets, offering personal and commercial banking, wealth management, global markets, and investment banking products and services [11]