Sun Life increases common shareholders' dividend payable in December 2021 by 20%
Sun Life Financial Inc. (TSX: SLF) announced a dividend of $0.11 per share on common shares, payable on December 31, 2021. Shareholders will receive a total quarterly dividend of $0.66 per share, marking a 20% increase from the previous dividend. This decision follows OSFI's recent removal of restrictions on dividend increases that were in place since March 2020 due to the pandemic. Sun Life remains committed to a dividend payout ratio of 40-50% as part of its financial goals, highlighting its focus on delivering shareholder value.
- Dividend increased by 20% to $0.66 per share.
- Strong commitment to a dividend payout ratio of 40-50%.
- Favorable regulatory environment following OSFI's removal of restrictions.
- None.
TORONTO, Nov. 8, 2021 /PRNewswire/ - The Board of Directors of Sun Life Financial Inc. (the "Company") (TSX: SLF) (NYSE: SLF) today announced a dividend of
Combining this supplementary dividend and the quarterly dividend of
This supplementary dividend follows the announcement by the Office of the Superintendent of Financial Institutions ("OSFI") on November 4, 2021 to remove its expectations that federally regulated financial institutions halt dividend increases. OSFI halted dividend increases and share buybacks on March 13, 2020, at the start of the COVID-19 pandemic.
Sun Life has demonstrated a strong track record of delivering shareholder value and progressive dividend increases. The Company remains committed to its dividend payout ratio of 40 -
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.
About Sun Life
Sun Life is a leading international financial services organization providing insurance, wealth and asset management solutions to individual and corporate 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 September 30, 2021, Sun Life had total assets under management of
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
Media Relations Contact:
Rajani Kamath
Associate Vice-President
Corporate Communications
T: 416 979-6070
rajani.kamath@sunlife.com
Investor Relations Contact:
Yaniv Bitton
Vice-President,
Head of Investor Relations & Capital Markets
T: 416-979-6496
Investor_relations@sunlife.com
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SOURCE Sun Life Financial Inc.
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