Bank of Montreal is boosting its dividend by 2¢ to 30¢ a share.

BMO’s board has approved its tenth increase since 1992. The dividend on the common shares is payable February 27 to shareholders of record on February 1. The dividend on the preferred shares is payable February 25 to shareholders of record on February 1.

For the current quarter, the board also declared a dividend of 34.6875¢ a share on paid-up Class B Preferred Shares Series 3, a dividend of 30.00¢ a share on paid-up Class B Preferred Shares Series 4, 33.12¢ on paid-up Class B Preferred Shares Series 5, 29.6875¢ on the paid-up Class B Preferred Shares Series 6, and an initial dividend of 27.305¢US on the paid-up Class B Preferred Shares Series 10 of the bank.