Sun Life Financial Inc. - SLF STOCK NEWS

Sun Life U.S. and the Boston Celtics have completed their 11th annual #SunLifeDunk4Diabetes campaign, raising $105,000 for the YMCA of Greater Boston's Healthy Habits program. The campaign, held during National Diabetes Month in November, generated $1,000 for each Celtics dunk, with the Boston Celtics Shamrock Foundation matching up to $25,000.

The Celtics delivered 60 dunks, with Neemias Queta leading with 25 dunks and Jayson Tatum contributing 13. Fans participated by voting over 130,000 times on Instagram for their favorite weekly dunks. Throughout its 11-year history, the campaign has raised more than $1 million for the YMCA's Healthy Habits program, which has served nearly 1,000 individuals in Greater Boston.

Sun Life Financial (TSX: SLF) (NYSE: SLF) is hosting its Investor Day 2024 in Toronto, featuring presentations on digital leadership, client impact, and insights into its four business groups: Asset Management, Canada, U.S., and Asia. The company announced updates to its Medium-Term Financial Objectives, including an increase in Underlying Earnings Per Share growth to 10% per annum and Underlying Return on Equity to 20%, while maintaining its Underlying Dividend Payout Ratio objective at 40-50%. Management highlighted the company's focus on capital-light businesses and strong balance sheet as strategic growth drivers.

Sun Life Financial (TSX: SLF) (NYSE: SLF) has announced a dividend increase of 3 cents, bringing the quarterly dividend to $0.84 per common share, payable December 31, 2024. The company also declared dividends on various Class A Non-Cumulative Preferred Shares series, with amounts ranging from $0.114063 to $0.401712 per share. All dividends will be paid to shareholders of record as of November 27, 2024. Common shares acquired under the Canadian Dividend Reinvestment and Share Purchase Plan will be purchased on the open market through various Canadian trading platforms.

Sun Life Financial reported strong Q3 2024 results with underlying net income of $1,016 million, up 9% from Q3'23, and reported net income of $1,348 million, up 55%. The company's Assets under Management reached $1,515 billion, increasing 13% year-over-year. Key performance metrics include: underlying ROE of 17.9%, reported ROE of 23.8%, and a strong LICAT ratio of 152%. The company increased its common share dividend from $0.81 to $0.84 per share. Growth was driven by strong performance across business segments, particularly in Wealth & Asset Management, Group Health & Protection, and Individual Protection.

Sun Life U.S. has been recognized as a Top Workplace for Remote Work by Monster.com, based on employee surveys by Energage and information about company programs and benefits. The company maintains a flexible, hybrid culture allowing employees to choose when to work from office.

This recognition adds to Sun Life's multiple Top Workplace awards, including honors in Hartford, Boston, Baltimore, Milwaukee, and nationally. The company encourages in-person connections through regional events, philanthropic activities, and satellite communities in areas with high employee concentrations. Sun Life's U.S. office hubs are located in Wellesley, Hartford, Milwaukee, Baltimore, Kansas City and Portland, with satellite communities in Texas and Florida.

Sun Life U.S. is expanding its Healthcare Professional long-term disability () coverage to provide more income protection for non-physician providers with medical specialties. This expansion aims to help healthcare organizations recruit and retain talent, addressing the growing demand for nurses, physician assistants (PAs), and nurse practitioners (NPs).

The coverage is designed to protect the unique skillsets of these providers and offer income replacement if they are unable to work due to illness or injury. It also includes support for returning to work, with Sun Life vocational specialists assisting in obtaining education or training for alternative roles if needed.

This expansion aligns with the projected rapid growth in employment for PAs (28%) and nurse specialists (40%) over the next decade, as reported by the Bureau of Labor Statistics. The enhanced coverage is part of Sun Life's broader strategy to offer health-connected services that improve member health outcomes.

Sun Life Financial Inc. (TSX: SLF) (NYSE: SLF) has announced the schedule for its third quarter 2024 earnings release and conference call. The company will release its financial results on Monday, November 4, 2024 after markets close. A live webcast of the quarterly results will be held the following day, Tuesday, November 5, 2024, at 10:00 a.m. ET.

Interested parties can access the call and presentation via a live webcast or telephone. The webcast replay will be available after the event. This announcement provides investors and analysts with the opportunity to review Sun Life's financial performance and engage with the company's management team.

Sun Life U.S., through Health Navigator powered by PinnacleCare, is collaborating with Amaze Health, AYG Wellness, and Virtual Wellness Care to address healthcare disruptions caused by recent hurricanes. The initiative aims to help members in affected areas access needed care and medications. Sun Life is opening up its Health Navigator to all stop-loss clients and their employees, providing one-on-one support from care advisors.

The collaboration offers services including urgent care, primary care, prescription medication deliveries, and personalized health advocacy through a dedicated phone number and website. This effort addresses the challenges posed by damaged facilities, medical supply shortages, and evacuations in hurricane-affected areas.

Sun Life clients and members affected by the hurricanes are encouraged to reach out if they need assistance with payments or benefit arrangements. Information on accessing Employee Assistance Programs (EAPs) is also available.

Sun Life U.S. and DentaQuest, part of Sun Life U.S., are donating $50,000 to support Hurricane Milton relief efforts in Florida. The donation will be distributed to the Volunteer Florida Foundation's Disaster Fund, Rebuilding Tampa Bay, and Feeding Tampa Bay. This follows a previous $145,000 donation for Hurricane Helene relief in the broader region.

Dan Fishbein, M.D., president of Sun Life U.S., expressed concern for those facing the impacts of two major hurricanes and hopes the support will help people start to recover. Sun Life is also providing support to affected clients, members, and employees in Florida.

The company encourages affected clients and members to reach out if they need assistance with payments or benefit arrangements. Information on support, including guidance on using Employee Assistance Programs (EAPs), is available on their website.