TORONTO - Manulife (TSX:MFC) Financial (NYSE:MFC) Corporation (TSX/NYSE/PSE: MFC, SEHK: 945), a prominent international financial services provider, announced today that its Board of Directors has declared a quarterly common shareholders' dividend.
The dividend of $0.40 per share on the company's common shares will be payable on September 19, 2024, to shareholders of record as of August 21, 2024.
In connection with the reinvestment of dividends and optional cash purchases, Manulife will acquire common shares on the open market under its Canadian Dividend Reinvestment and Share Purchase Plan, as well as its U.S. counterpart. The cost of these shares will reflect the average actual cost to purchase them, with no discounts applied.
Manulife, headquartered in Toronto, operates globally, offering financial advice and insurance through its Manulife brand in Canada, Asia, and Europe, as well as John Hancock in the United States.
The company's investment management services are delivered under the Manulife Investment Management brand, catering to individuals, institutions, and retirement plan members around the world.
As of the end of 2023, Manulife employed more than 38,000 individuals and over 98,000 agents. The company's extensive network of distribution partners provides services to over 35 million customers worldwide.
Manulife's shares are traded on multiple stock exchanges, including Toronto, New York, and the Philippine stock exchanges under the ticker 'MFC', and on the Hong Kong stock exchange under '945'.
This dividend announcement is based on a press release statement from Manulife Financial Corporation .
InvestingPro Insights
Investors in Manulife Financial Corporation (MFC) have reasons to be attentive to the company's financial health and market performance. According to InvestingPro data, Manulife has demonstrated financial resilience, as highlighted by a perfect Piotroski Score of 9. This score is a testament to the company's strong financial position, which could be reassuring for shareholders considering the recent dividend announcement.
Manulife's commitment to shareholder returns is further evidenced by its impressive track record of raising dividends. The company has increased its dividend for 10 consecutive years, showcasing a reliable and growing income stream for investors. This trend aligns with the latest dividend declaration, cementing Manulife's reputation as a stable dividend-paying stock.
While the company has maintained dividend payments for an impressive 25 consecutive years, it's important to note that analysts have revised their earnings downwards for the upcoming period. This could suggest potential headwinds for the company, but it remains to be seen how this will affect Manulife's financial performance in the long term.
The InvestingPro platform offers additional insights, including more InvestingPro Tips for Manulife Financial Corporation. For those looking to delve deeper into the company's prospects, there are currently 10 more tips available at: https://www.investing.com/pro/MFC.
InvestingPro Data:
- Piotroski Score: 9
- Consecutive Years of Dividend Increase: 10
- Consecutive Years of Dividend Payments: 25
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