Sunday, January 09, 2022

Isn’t Capitalism Wonderful?


All of Canada’s six biggest banks have raised their dividends.  

The BMO Financial Group raised its dividend 25 per cent and beat expectations as it reported a fourth-quarter profit of nearly $2.2 billion, up from $1.6 billion in the same quarter last year. Analysts expected a profit of $3.21 a share, but it was $3.33 per share, isn't capitalism wonderful? 

All of Canada's six biggest banks have raised their dividends and announced plans to buy back large numbers of their shares as they reported their fourth-quarter results. 

Surely it would occur to anyone capable of reason, that there must be something fundamentally wrong with a society where so few could hoard so much wealth while the majority live in poverty. 

Reformers would argue that so much of that money could be used to help the poor while we socialists stand for a world of no money and no poor.

S.P.C. Members.

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