Manulife Finl Stock Price, News & Analysis

Manulife Financial Corporation is set to release its Q1 2023 financial results on May 10, 2023, after market closure. The results will be available on their investor relations website. A live webcast and conference call will follow on May 11, 2023, at 8:00 a.m. ET, featuring insights from the executive leadership team.

This announcement marks the first quarterly report under IFRS 17 and IFRS 9 accounting standards, effective January 1, 2023, and the call duration has been extended to two hours to accommodate discussions on these changes. Investors can access the replay until August 5, 2023.

Manulife Financial Corporation (MFC) announced it will not redeem its 10,000,000 Non-cumulative Rate Reset Class 1 Shares Series 25 on June 19, 2023. Instead, Series 25 shareholders can convert their shares into Non-cumulative Floating Rate Class 1 Shares Series 26 on the same date. If fewer than 1,000,000 Series 25 shares remain after June 5, 2023, all will convert automatically to Series 26 shares. The dividend rates for both share series will be determined and announced on May 23, 2023. Series 26 shares, once converted, will be listed on the Toronto Stock Exchange (TSX) under the symbol MFC.PR.S. Additionally, the Series 25 and Series 26 shares will not be registered under U.S. securities laws, limiting their sale to U.S. persons.

Manulife Financial Corporation (MFC) announced an updated Statistical Information Package (SIP) template in preparation for its Q1 2023 financial results set for May 10, 2023. This update incorporates changes due to the implementation of IFRS 17 and IFRS 9 standards, effective January 1, 2023. The new SIP template is designed to enhance the clarity and comprehensibility of financial data presentation. A summary of the changes is also available to assist users in understanding these updates. Interested parties can access the SIP and the summary through Manulife’s investor relations website.

On April 18, 2023, John Hancock Retirement, part of Manulife Investment Management, released its annual stress, finances, and well-being report, highlighting significant financial concerns among employees. The report indicates that 38% of employees expect to retire later than planned, an increase from 24% last year. Economic worries are prevalent, with 70% of respondents deeply concerned about inflation and economic conditions. Over half of the participants (58%) are worried about their personal finances, with 42% rating their financial situation as fair or poor. Despite these challenges, 71% plan to grow or maintain their savings. Notably, employee financial stress costs employers nearly $2,000 per employee in lost productivity. The survey underlines the importance of financial wellness programs, with 82% of employees believing such programs could reduce their stress.

Manulife Financial Corporation (MFC) announced its plan to redeem all outstanding C$600 million 3.317% Fixed/Floating Subordinated Debentures on May 9, 2023, at par. This redemption will include accrued and unpaid interest up to the redemption date. The formal notice will be provided to debenture holders as per MFC's Trust Indenture. Following the redemption, interest on the Debentures will cease. MFC, headquartered in Toronto, operates in financial services, offering advice and insurance under the Manulife and John Hancock brands worldwide, serving over 34 million customers.

John Hancock Retirement has appointed Wayne Park as the new CEO of its U.S. retirement plan and recordkeeping business, effective immediately. He brings extensive experience from previous roles at American Century Services, T. Rowe Price, and Vanguard. Park succeeds Sue Reibel, who retired after nearly 30 years at the company. John Hancock, part of Manulife Investment Management, manages over $332 billion in retirement assets across 260,000 plans, supporting more than 8.7 million participants. Park aims to enhance the company’s commitment to delivering effective retirement solutions, reflecting leadership and operational expertise.

Manulife Financial Corporation has released its Management Information Circular and 2022 Annual Report, available to shareholders online. The annual meeting is scheduled for May 11, 2023, at 11:00 a.m. EST, accessible in person and via live webcast. Shareholders are encouraged to vote their shares and submit proxies ahead of time to ensure representation. The documents can be accessed on the company’s official website, with additional options for obtaining paper copies. Manulife, operating globally as a leading financial services provider, continues to support over 34 million customers through its various offerings.