Welcome to our dedicated page for Manulife Finl news (Ticker: MFC), a resource for investors and traders seeking the latest updates and insights on Manulife Finl stock.
Manulife Financial Corporation reports developments across its international insurance, financial advice, health solutions, and wealth and asset management businesses. The company operates as Manulife in Canada and Asia and primarily as John Hancock in the United States, with news commonly covering insurance distribution, retirement services, investment solutions, customer health and longevity initiatives, and community programs.
Recurring updates also include quarterly and annual results, dividend announcements, annual meeting materials, management information circulars, shareholder voting matters, executive conference participation, and capital actions involving common and preferred shares. News from John Hancock adds detail on U.S. insurance sales, executive benefits, the John Hancock Vitality program, and longevity-focused research and planning tools.
Manulife's Board of Directors declared a quarterly common shareholders' dividend of $0.40 per share on the common shares of Manulife, payable on and after June 19, 2024. The company will purchase common shares on the open market in connection with the reinvestment of dividends and optional cash purchases under its Canadian and U.S. Dividend Reinvestment and Share Purchase Plans.
Manulife Financial reported its first quarter 2024 results, showcasing strong core ROE and topline growth. The company closed the largest LTC reinsurance transaction in the industry. Key highlights include core earnings of $1.8 billion, up 16% from 1Q23, EPS of $0.45, down 38% from 1Q23, and APE sales up 21%.
Front Street Re, an international Insurtech and reinsurance company, appointed Edison Fong as Chief Executive Officer. Fong brings actuarial experience and financial acumen to drive innovation and efficiency. Lexasure Financial Group is committed to Front Street Re's growth, focusing on global partnerships and tailored products.
Manulife Financial has amended its normal course issuer bid (NCIB) to repurchase up to an additional 40 million of its common shares, now totaling 90 million shares. This decision aims to maintain healthy regulatory capital ratios, generate shareholder value, and mitigate the impact on diluted Earnings Per Share and core Earnings Per Share from reinsurance transactions. The NCIB will be in effect until February 22, 2025, allowing repurchases through various trading platforms. Manulife may also engage in private agreements, derivative-based programs, and other methods to acquire shares within regulatory limits. The company's current NCIB has already repurchased over 12 million common shares.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
Summary not available.