TORONTO - Manulife Financial (NYSE:MFC) Corporation's Board of Directors has declared a quarterly dividend of $0.40 per common share, payable to shareholders of record as of May 22, 2024. The dividend is scheduled for distribution on or after June 19, 2024.
In line with the dividend announcement, Manulife also specified that shares purchased through its Canadian and U.S. Dividend Reinvestment and Share Purchase Plans will be acquired on the open market without any discount on the purchase price.
Manulife, a prominent international financial services group, offers a broad range of financial advice, insurance, and wealth and asset management solutions for individuals, institutions, and retirement plan members globally.
With its global headquarters in Toronto, Canada, Manulife operates under its own name in Canada, Asia, and Europe, and as John Hancock in the United States. As of the end of 2023, the company has a workforce exceeding 38,000 employees and over 98,000 agents, collaborating with thousands of distribution partners to serve more than 35 million customers worldwide.
The company's shares are traded on several major stock exchanges, including the Toronto Stock Exchange (TSX), New York Stock Exchange (NYSE), and Philippine Stock Exchange (PSE) under the ticker symbol 'MFC', and on the Hong Kong Stock Exchange (SEHK) under '945'. It's important to note that not all of Manulife's offerings are available in every jurisdiction.
This announcement is based on a press release statement from Manulife Financial Corporation and does not include any promotional content or subjective claims. The dividend declaration is a routine financial disclosure for the company, providing shareholders with pertinent information regarding upcoming dividend payments.
InvestingPro Insights
Following the dividend announcement by Manulife Financial Corporation (MFC), investors may be interested in the company's financial health and stock performance. According to InvestingPro data, Manulife boasts a robust market capitalization of $43.94 billion USD.
The company's P/E ratio stands at 12.81, reflecting investor expectations of future earnings, with an adjusted P/E ratio for the last twelve months as of Q4 2023 at 12.47. Additionally, Manulife's Price / Book ratio during the same period is 1.35, which can offer insights into the market's valuation of the company's net assets.
One of the InvestingPro Tips highlights that Manulife has raised its dividend for 10 consecutive years, demonstrating a commitment to returning value to shareholders. Moreover, the company has maintained dividend payments for 25 consecutive years, which is indicative of a stable financial position and a reliable income stream for investors. The company's recent dividend yield was reported at 4.88%, as of early 2024.
Investors seeking more in-depth analysis can find additional InvestingPro Tips for Manulife, which include insights such as analysts' upward earnings revisions for the upcoming period and the company's performance relative to industry peers. For those interested in leveraging these insights, InvestingPro offers a comprehensive suite of tools and tips. By using the coupon code PRONEWS24, new subscribers can receive an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
As of the latest update, there are 10 more InvestingPro Tips available for Manulife, which can provide investors with a more nuanced understanding of the company's financial trajectory and stock performance. To explore these tips and make informed investment decisions, visit: https://www.investing.com/pro/MFC
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