Sun Life declares dividends on Common and Preferred Shares payable in Q1 2023

Rhea-AI Summary

On February 8, 2023, Sun Life Financial Inc. (NYSE: SLF) announced a dividend of $0.72 per common share, consistent with the prior quarter. This dividend is payable on March 31, 2023 to shareholders of record by March 1, 2023. Additionally, dividends on Class A Non-Cumulative Preferred Shares were declared, including $0.278125 for Series 3 and Series 4, $0.28125 for Series 5, $0.114063 for Series 8R, $0.341692 for Series 9QR, $0.185438 for Series 10R, and $0.388541 for Series 11QR. All dividends are designated as eligible dividends under the Canadian Income Tax Act.

Positive

• Dividend of $0.72 per share for common shares, same as prior quarter.
• Consistent dividends on preferred shares indicate stable cash flow.

Negative

• None.

TORONTO, Feb. 8, 2023 /PRNewswire/ - The Board of Directors (the "Board") of Sun Life Financial Inc. (the "Company") (TSX: SLF) (NYSE: SLF) today announced that a dividend of $0.72 per share on the common shares of the Company has been declared, payable March 31, 2023 to shareholders of record at the close of business on March 1, 2023. This is the same amount as paid in the previous quarter.

The Board also announced that the following dividends have been declared on the Company's Class A Non-Cumulative Preferred Shares, payable on March 31, 2023 to shareholders of record at the close of business on March 1, 2023:

Series 3	$0.278125 per share
Series 4	$0.278125 per share
Series 5	$0.28125 per share
Series 8R Series 9QR	$0.114063 per share $0.341692 per share
Series 10R	$0.185438 per share
Series 11QR	$0.388541 per share

 

Common shares of the Company acquired under the Company's Canadian Dividend Reinvestment and Share Purchase Plan (the "Plan") will be purchased by the Plan agent on the open market through the facilities of the Toronto Stock Exchange and through the facilities of other Canadian stock exchanges and alternative Canadian trading platforms.

Sun Life Financial Inc. has designated the dividends referred to above as eligible dividends for the purposes of the Income Tax Act (Canada).

About Sun Life

Sun Life is a leading international financial services organization providing asset management, wealth, insurance and health solutions to individual and institutional Clients. Sun Life has operations in a number of markets worldwide, including Canada, the United States, the United Kingdom, Ireland, Hong Kong, the Philippines, Japan, Indonesia, India, China, Australia, Singapore, Vietnam, Malaysia and Bermuda. As of December 31, 2022, Sun Life had total assets under management of $1.33 trillion. For more information, please visit www.sunlife.com.

Sun Life Financial Inc. trades on the Toronto (TSX), New York (NYSE) and Philippine (PSE) stock exchanges under the ticker symbol SLF.

Note to editors: All figures in Canadian dollars

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SOURCE Sun Life Financial Inc.

FAQ

What is the dividend amount declared by Sun Life Financial on common shares in Q1 2023?

Sun Life Financial declared a dividend of $0.72 per share on common shares.

When is the dividend payment date for Sun Life Financial's common shares?

The dividend for common shares is payable on March 31, 2023.

What are the dividends declared for Sun Life Financial's preferred shares?

Dividends for preferred shares include $0.278125 for Series 3 and Series 4, $0.28125 for Series 5, $0.114063 for Series 8R, $0.341692 for Series 9QR, $0.185438 for Series 10R, and $0.388541 for Series 11QR.

When will the preferred share dividends be paid by Sun Life Financial?

Preferred share dividends are payable on March 31, 2023.

Are the dividends declared by Sun Life Financial eligible for tax benefits?

Yes, the dividends are designated as eligible dividends under the Income Tax Act in Canada.