Sun Life Financial Inc. - SLF STOCK NEWS

Sun Life Financial Inc. (TSX: SLF) has successfully completed a public offering in Canada, raising $1 billion through the sale of 3.60% Limited Recourse Capital Notes Series 2021-1. The funds will support general corporate purposes, including potential investments and debt repayment. Additionally, the company issued 1 million Class A Non-Cumulative Rate Reset Preferred Shares Series 14 to a trust as part of this offering. The notes and shares are not registered under U.S. securities law, limiting their offering in the U.S.

Sun Life U.S. has launched an expanded Dental Health Center on SunLife.com/us, featuring a new From the desk of Dr. Pink section for dental insights. This platform offers a range of resources, including an oral health center, ask-a-dentist feature for quick dentist consultations, and a cost estimator tool for members. Sun Life's Dental Network includes over 130,000 providers, emphasizing their commitment to enhancing consumer access to dental health information and services, aiming for improved oral and overall health.

On June 23, 2021, Sun Life Financial Inc. (TSX: SLF) announced its intention to issue $1 billion of 3.60% Limited Recourse Capital Notes Series 2021-1, with an anticipated closing date of June 30, 2021. Proceeds will be used for general corporate purposes, including potential investments in subsidiaries and debt repayment. The notes will bear interest at a fixed rate until 2026 and will mature on June 30, 2081. This offering aims to qualify as Tier 1 capital and is managed by RBC Capital Markets, BMO Capital Markets, and TD Securities.

Sun Life's annual report reveals significant trends in high-cost medical claims from 2017-2020. Cancer remains the costliest condition, rising 16% in 2020, with notable increases in claims for mental health (21%), septicemia, and congenital anomalies. The average mental health claim was around $80,000. COVID-19 also played a role, with claims averaging $340,000 for severe cases. Sun Life plans to enhance member support through the acquisition of PinnacleCare, aiming to improve healthcare navigation for its clients.

Sun Life U.S. has appointed Kimberly Mashburn as the new National Absence Practice Leader. Mashburn, previously at The Hartford, will enhance business development and expertise in disability insurance and absence management. Her appointment aims to help employers navigate complex leave laws effectively. In January, Sun Life launched an integrated absence management solution based on client feedback, streamlining the leave process. Mashburn's extensive experience in absence management includes leadership roles at Prudential and Beacon Health Services.

On May 6, 2021, Sun Life Financial Inc. (TSX: SLF, NYSE: SLF) announced the successful election of 12 nominees as directors during its annual shareholders' meeting. The voting results showed strong support for the nominees, with most receiving over 99% approval. Notable figures included Dean A. Connor with 99.8% approval and Scott F. Powers facing the lowest at 91.6%. This election reflects shareholder confidence in the board's leadership as Sun Life continues to manage significant assets of approximately $1,304 billion as of March 31, 2021.

Sun Life has announced its role as a national sponsor of Project Power, a youth health initiative by the American Diabetes Association aimed at promoting healthy lifestyle choices among children aged 5-12. The free program focuses on health promotion, nutrition education, and increased physical activity, pivoting to a virtual format during the pandemic. Three out of four participants reported improved confidence in choosing healthy snacks after completing the program. Sun Life's initiative aligns with its commitment to diabetes and youth health, supporting broader community health initiatives.

On May 5, 2021, Sun Life Financial Inc. announced a dividend of $0.55 per share on common shares, payable on June 30, 2021. The shareholders on record as of May 26, 2021 will receive this payment. Additionally, dividends were declared for Class A Non-Cumulative Preferred Shares, with varying amounts such as $0.296875 for Series 1 and $0.30 for Series 2. All declared dividends are eligible for tax purposes under the Canadian Income Tax Act.

Sun Life Financial Inc. (TSX: SLF) reported strong Q1 2021 results with a net income of $937 million, a 140% increase from $391 million in Q1 2020. Underlying net income rose to $850 million, reflecting a 10% growth. The Company emphasized its commitment to sustainability, announcing an additional $20 billion investment in sustainable initiatives over five years. However, total insurance and wealth sales declined by 6% and 10%, respectively. The Company also plans to acquire Pinnacle Care International, enhancing its health solutions.