BMO Global Smaller Companies increases dividend for 50th consecutive year

Chairman Anthony Townsend to retire

BMO Global Smaller Companies has announced its dividend will increase by 3% in its annual results, its 50th consecutive year of dividend increases.

Net asset value with debt at market value produced a marginally benchmark-beating loss of -13.8% to the end of April compared to -14.1%, while its share price fell 16.5% to end the year at 111p and a discount to NAV of 7.3%. BMO appoints head of product EMEA Chair Anthony Townsend pointed to an increased number of shares being sold over the period leading to the discount to NAV, but also highlighted 14.9 million shares bought back over the year, along with 4.6 million bought since the beginning of the of the new financial year. "The aim is to get the discount back below 5% in norma...