Manulife increases common shareholders'; dividend by 11%

Rhea-AI Summary

Manulife Financial Corporation announced an 11% increase in its quarterly dividend to $0.365 per share. This increase amounts to an additional 3.5 cents per share and is payable on March 20, 2023, to shareholders who are on record by February 28, 2023. Additionally, the company will repurchase common shares for its Dividend Reinvestment and Share Purchase Plan at market prices. This decision reflects Manulife's commitment to returning value to its shareholders while supporting its financial strategies.

Positive

• 11% increase in quarterly dividend to $0.365 per share.
• Demonstrates commitment to enhancing shareholder value.

Negative

• None.

C$ unless otherwise stated                               TSX/NYSE/PSE: MFC     SEHK: 945

TORONTO, Feb. 15, 2023 /PRNewswire/ - Manulife's Board of Directors today announced an increase of 11% or 3.5 cents per share to its quarterly common shareholders' dividend resulting in a dividend of $0.365 per share on the common shares of Manulife, payable on and after March 20, 2023, to shareholders of record at the close of business on February 28, 2023.

In respect of the Company's Canadian Dividend Reinvestment and Share Purchase Plan and its U.S. Dividend Reinvestment and Share Purchase Plan, the Company will purchase common shares on the open market in connection with the reinvestment of dividends and optional cash purchases under these plans. The purchase price of these common shares will be based on the average of the actual cost to purchase them and there are no applicable discounts.

About Manulife

Manulife Financial Corporation is a leading international financial services provider, helping people make their decisions easier and lives better. With our global headquarters in Toronto, Canada, we provide financial advice and insurance, operating as Manulife across Canada, Asia, and Europe, and primarily as John Hancock in the United States. Through Manulife Investment Management, the global brand for our Global Wealth and Asset Management segment, we serve individuals, institutions, and retirement plan members worldwide. At the end of 2022, we had more than 40,000 employees, over 116,000 agents, and thousands of distribution partners, serving over 34 million customers. We trade as 'MFC' on the Toronto, New York, and the Philippine stock exchanges and under '945' in Hong Kong.

Not all offerings are available in all jurisdictions. For additional information, please visit manulife.com.

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SOURCE Manulife Financial Corporation

FAQ

What is Manulife's dividend amount for Q1 2023?

Manulife's dividend amount for Q1 2023 is $0.365 per share.

When will Manulife pay its dividend?

Manulife will pay its dividend on March 20, 2023.

What date is the record for Manulife's dividend payment?

The record date for Manulife's dividend payment is February 28, 2023.

How much has Manulife increased its dividend?

Manulife has increased its dividend by 11% or 3.5 cents per share.

What does the increase in dividend indicate for MFC shareholders?

The increase in dividend indicates Manulife's commitment to returning value to its shareholders.