Welcome to our dedicated page for Manulife Finl news (Ticker: MFC), a resource for investors and traders seeking the latest updates and insights on Manulife Finl stock.
Manulife Financial Corporation reports developments across its international insurance, financial advice, health solutions, and wealth and asset management businesses. The company operates as Manulife in Canada and Asia and primarily as John Hancock in the United States, with news commonly covering insurance distribution, retirement services, investment solutions, customer health and longevity initiatives, and community programs.
Recurring updates also include quarterly and annual results, dividend announcements, annual meeting materials, management information circulars, shareholder voting matters, executive conference participation, and capital actions involving common and preferred shares. News from John Hancock adds detail on U.S. insurance sales, executive benefits, the John Hancock Vitality program, and longevity-focused research and planning tools.
Venerable Holdings has completed a significant reinsurance transaction with Manulife Financial Corporation (MFC), covering a block of variable annuity business from its subsidiary John Hancock. This 80% quota share reinsurance involves approximately $1.6 billion in account value as of August 31, 2022, primarily including policies with guaranteed minimum withdrawal benefit riders. Venerable's Chairman, David Marcinek, indicated that the deal reflects the strength of both organizations amid uncertain market conditions.
John Hancock Investment Management has appointed four new trustees to the John Hancock Group of Funds Board, enhancing its strategic approach to fund management. Notable appointments include Noni L. Ellison, Dean Garfield, Patricia Lizarraga, and Paul Lorentz, each bringing significant expertise in finance, governance, and regulatory affairs. The board now comprises 12 independent trustees, focused on evolving the investment landscape and addressing future challenges. The appointments aim to 'future proof' the board, ensuring strong governance and strategic oversight in a competitive environment.
John Hancock announced it will offer the Galleri multi-cancer early detection test to a pilot group of existing customers via the John Hancock Vitality Program. This collaboration with Munich Re Life US marks the first time a life insurer has made such technology accessible. The Galleri test can identify signals from over 50 types of cancer, supporting early diagnosis and better health outcomes. Participation in this pilot will help assess customer uptake and experience, while ensuring individual results remain confidential and do not affect insurance coverage.
On August 10, 2022, Manulife Financial Corporation announced quarterly dividends for its non-cumulative preferred shares. The dividends are payable on or after September 19, 2022, to shareholders of record as of August 23, 2022. Key dividend amounts include Class A Shares Series 2 at $0.29063, Class A Shares Series 3 at $0.28125, and several Class 1 Shares ranging from $0.14675 to $0.295688. This announcement reflects the company's ongoing commitment to provide returns to its investors.
On August 10, 2022, Manulife's Board of Directors announced a quarterly dividend of $0.33 per share on common shares, payable from September 19, 2022, to shareholders on record by August 23, 2022. The company will also purchase common shares on the market as part of its Canadian and U.S. Dividend Reinvestment and Share Purchase Plans, with the purchase price based on average costs. Manulife operates globally, providing financial services to over 33 million customers, with a workforce exceeding 38,000 employees.
Manulife Financial Corporation reported its 2Q22 results with net income attributed to shareholders at $1.1 billion, down from $2.6 billion in 2Q21. Core earnings fell 9% to $1.6 billion on a constant exchange rate basis. The LICAT ratio remains strong at 137%. APE sales totaled $1.4 billion, down 1% year-over-year, while new business value decreased to $511 million, reflecting a 9% decline. Despite challenges, the company achieved net inflows of $1.7 billion in Global Wealth and Asset Management, significantly lower than the previous year. Share repurchase program continues with approximately 2% of common shares bought back.
On July 29, 2022, John Hancock Tax-Advantaged Dividend Income Fund (NYSE: HTD) announced a monthly distribution of $0.1380 per share to shareholders of record as of July 11, 2022. This distribution follows the Fund's managed distribution plan and is part of the July 2022 distribution period. The sources for this payout include 31% net investment income and 69% return of capital. Shareholders are informed that the Fund may have distributed more than its income and net realized gains, indicating that a portion of the distribution could be a return of capital.
The John Hancock Premium Dividend Fund (NYSE: PDT) declared a monthly distribution of $0.0975 per share, payable on July 29, 2022, to shareholders of record as of July 11, 2022. This distribution comes from various sources, including 46% net investment income and 54% return of capital. The fund's managed distribution plan ensures fixed monthly payments until further notice. Investors should note that the fund may have distributed more than its income and net capital gains, indicating a return of capital.
John Hancock Retirement, part of Manulife Investment Management, has launched a new prospect finder tool aimed at financial professionals. This interactive tool enhances efficiency in managing leads by offering plan comparisons at various levels—industry, state, and national. It features smart filters, downloadable scouting reports, and insights into potential plan gaps. John Hancock currently services over 54,000 retirement plans with more than 3.1 million participants and over $215 billion in assets under management (AUMA) as of March 31, 2022.
Manulife has received an unsolicited mini-tender offer from Obatan LLC to purchase up to 500,000 shares at USD$12.00 per share, representing a 34.04% discount compared to the closing price on July 14, 2022. Manulife does not endorse this offer and advises shareholders to carefully consider the current market price before making decisions. Mini-tender offers, which seek less than 5% of outstanding shares, often come at below-market prices, leading to potential investor confusion. Shareholders can withdraw their shares before December 31, 2022.