The 32-year-old defenseman could have become an unrestricted free agent after next season. He agreed to terms on a six-year contract with the Canadiens on June 2, 2015.
"From Day One when I got here, it's been a special place and it's a privilege to put on a uniform of so much history," said Petry, who was traded to Montreal from the Edmonton Oilers on March 2, 2015. "I've learned that over my [5 1/2] years so far how much pride that I take to put on that uniform every day.
"There were many things that ultimately played into signing this deal. Factors of term, family, dollars. I think overall my wife (Julie) and I reached a comfortable position that we felt was good for us, being comfortable where we live, knowing how much I enjoy playing for this organization, how the organization has treated my wife and my family. So that all had to do with the decision."
The Canadiens, who finished with the lowest points percentage (.500) of any team to qualify for the postseason, entered as the No. 12 seed and defeated the No. 5 seed Pittsburgh Penguins in four games in the best-of-5 Stanley Cup Qualifiers. As the No. 8 seed in the best-of-7 Eastern Conference First Round, Montreal lost in six games to the No. 1 seed Philadelphia Flyers.
"Just the last little Return To Play showed what we have coming up," Petry said. "We have a lot of good young players, guys like [Jesperi Kotkaniemi] and [Nick] Suzuki showed that in the playoffs, which is huge to have success as a team. With those guys coming up, it shows that the future is bright, and that was one of the deciding factors in ultimately signing this extension."
Petry scored at least 40 points (11 goals, 29 assists) for a third consecutive season, led the Canadiens in total ice time (1,678:52), was second in ice time per game (23:39) to defenseman Shea Weber (24:00), and scored game-winning goals in Games 1 and 3 of the Qualifiers. He led Montreal in ice time per game (25:27) in 10 postseason games and was one of three Canadiens with at least 30 hits (Ben Chiarot, 38; Kotkaniemi, 36).
"I didn't think it could get any better, and then playing in the playoffs it does," Petry said. "It gets elevated to a level that I've never experienced before. Ultimately we want to get there again next year for everyone to experience that."
Petry has 253 points (69 goals, 184 assists) in 680 regular-season games over 10 NHL seasons with the Oilers and Canadiens. He has seven points (five goals, two assists) in 28 postseason games.
NHL.com columnist Dave Stubbs contributed to this report
