A 15% Yield From North America’s Oldest Bank

Sure, it doesn’t make for great cocktail party conversation. Most people roll their eyes at stodgy dividend growers like Tootsie Roll Industries, Inc. (NYSE:TR), Colgate-Palmolive Company (NYSE:CL), and Genuine Parts Company (NYSE:GPC). Through patience and discipline, however, longtime owners can earn double-digit yields on their original investments. That brings me to today’s topic.

In 2009, we recommended the Bank of Montreal (NYSE:BMO) to readers in our Income for Life advisory. At the time, we admired the company’s commitment to shareholders through ongoing dividends. Thanks to its entrenched market position and conservative culture, the Canada-based company has paid out distributions for nearly 200 years, making this “forever asset” one of the oldest dividend payers in North America.

Source: Income Investors

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