Sun Life Financial Inc. - SLF STOCK NEWS

On September 9, 2021, Sun Life launched Health Navigator, powered by PinnacleCare, to assist individuals in navigating complex healthcare systems. This service provides personalized support to obtain accurate diagnoses and treatment options, enhancing healthcare experiences and outcomes. Health Advisors connect members with a national network of specialists and treatment centers. Additionally, this service is integrated with stop-loss coverage for employers, aimed at reducing healthcare costs. As of June 30, 2021, Sun Life held assets worth C$1.36 trillion.

Sun Life has announced the dividend rates for its Class A Non-Cumulative Rate Reset Preferred Shares Series 10R and Series 11QR, effective from September 30, 2021. The Series 10R Shares will pay a dividend of 2.967% per annum, equating to $0.185438 per share quarterly, while the Series 11QR Shares will offer a floating rate of 2.357% per annum or $0.148523 per share for the period ending December 30, 2021. Investors have until September 15, 2021, to exercise conversion rights. The shares are not registered in the U.S., and the announcement reflects the company's ongoing commitment to shareholder returns.

Sun Life U.S. will relocate its Connecticut office to One Financial Plaza in Hartford, occupying 47,000 square feet. This move is designed to strengthen talent acquisition in a key insurance market. The new office will accommodate up to 450 employees, enhancing operational efficiency with modern amenities. The relocation is seen as a positive signal for Hartford's economic recovery post-pandemic, reinforcing the city's business ecosystem. Design work starts in early 2022, with a planned occupancy in September 2022.

Amazon Web Services (AWS) has been chosen by Sun Life (TSX: SLF, NYSE: SLF) as its strategic cloud technology provider to enhance its digital capabilities. The partnership aims to develop innovative digital client experiences and improve operational efficiency. Sun Life introduced the 'Catalysts for Cloud' training program for employees, enhancing cloud skills with AWS support. Additionally, Sun Life has established innovation labs in North America and Asia to improve collaboration and client interactions. This cloud-first approach positions Sun Life as a leader in digital transformation in the insurance sector.

On September 9, 2021, Kevin Strain, President & CEO of Sun Life, will engage in a virtual fireside chat at the Scotiabank Financials Summit. The discussion will be moderated by Meny Grauman, Managing Director of Canadian Financial Services at Scotiabank. The event is set for 2:45 p.m. ET, and interested parties can access the live webcast through the Sun Life website. As of June 30, 2021, Sun Life's assets under management totaled $1.36 trillion.

Sun Life Financial announced that it will not redeem its Class A Non-Cumulative Rate Reset Preferred Shares Series 10R and Series 11QR on September 30, 2021. Holders can convert shares between these two series on that date. If either series falls below one million shares, all shares will automatically convert to the other series. The dividend rates for both series will be determined on August 31, 2021, and announced that same day. Cash redemptions for these shares can occur starting September 30, 2026, subject to regulatory approval.

Sun Life Financial Inc. (TSX: SLF) announced plans to redeem $400 million of Class A Non-Cumulative Preferred Shares Series 1 and $325 million of Series 2 Shares on September 29, 2021. The redemption price will be $25.00 per share, plus any declared and unpaid dividends. The final quarterly dividends for Series 1 and Series 2 Shares are set at $0.296875 and $0.30, respectively, payable on the same date to shareholders on record as of August 25, 2021. As of June 30, 2021, Sun Life had total assets under management of $1.36 trillion.

Sun Life Financial Inc. (TSX: SLF) announced a dividend of $0.55 per common share, payable on September 29, 2021, to shareholders of record by August 25, 2021. This reflects no change from the previous quarter's dividend. Additionally, various dividends were declared for Class A Non-Cumulative Preferred Shares, also payable on the same date. Sun Life has designated these dividends as eligible under the Income Tax Act in Canada. As of June 30, 2021, the company reported total assets under management of $1.36 trillion.

Sun Life Financial Inc. (SLF) reported robust Q2 2021 results with a reported net income of $900 million, up 73% from $519 million in Q2 2020. Underlying net income increased 19% to $883 million. The company highlighted growth across all segments, particularly in Canada and Asia, with insurance sales rising 15% year-over-year. The return on equity improved significantly to 16.3%. However, the U.S. segment faced a 16% decline in insurance sales compared to the previous year. The company also plans to redeem $725 million in preferred shares, subject to regulatory approval.