Manulife Finl Stock Price, News & Analysis

On June 7, 2021, Manulife Financial Corporation reported the results of its preferred share conversion privileges. A total of 812,380 Series 3 Preferred Shares will convert to Series 4 shares on June 19, 2021, while 1,014,452 Series 4 shares will revert to Series 3 shares. Post-conversion, there will be 6,537,903 Series 3 and 1,462,097 Series 4 shares outstanding. The dividend for Series 3 will be fixed at 2.34800% annually and for Series 4 at 0.38363% for the first three months following the conversion. The shares are not registered in the U.S. under the Securities Act.

Manulife Investment Management announced enhancements to its emerging market fixed-income team, appointing Endre Pedersen as CIO, overseeing a team of 66 and managing over US$46 billion in assets. This reorganization aims to align global capabilities, improve efficiency, and strengthen investment strategies in response to demand. Additional promotions include Fiona Cheung as head of global EM fixed-income research. The firm emphasizes its century-long presence in emerging markets, aiming to capitalize on the growing demand for income opportunities.

John Hancock Investment Management has filed for an exemptive order to utilize Fidelity's proprietary active equity ETF methodology to launch new ETFs. This partnership aims to enhance investment offerings while leveraging Fidelity's expertise in semi-transparent ETF structures. With 16 ETFs and over $4.5 billion in assets under management, the firm is focusing on innovation to meet evolving investor needs. CEO Andrew G. Arnott stresses the benefits of active management, while Fidelity's Greg Friedman believes their methodology offers a leading approach for the ETF market.

John Hancock Retirement has appointed Sue Reibel as the new CEO for its U.S. retirement plan and recordkeeping business, effective June 2, 2021. Reibel succeeds Patrick Murphy, who is stepping down due to health reasons after leading the company since 2018. With over 50,000 retirement plans and 3 million participants, Reibel aims to strengthen the firm's growth strategy. She brings extensive experience from Manulife Investment Management and previously led various senior roles within the organization. John Hancock Retirement manages over $212 billion in assets under management.

Manulife Financial Corporation (MFC) announced dividend rates for its Series 3 and Series 4 Preferred Shares. For Series 3, starting June 20, 2021, the fixed rate is set at 2.34800% per annum, translating to $0.146750 per share quarterly. The Series 4 shares will have a floating rate of 0.38363% for the quarter ending September 19, 2021, equating to $0.095908 per share. Shareholders can convert their shares before June 4, 2021. The dividends, subject to approval, reflect Manulife's ongoing commitment to shareholder returns.

Manulife Investment Management has appointed Christoph Schumacher as the global head of real assets, private markets, effective immediately. This newly established position aims to drive the firm's private real assets strategy and oversee investment solutions globally. Schumacher will manage $42.9 billion in assets under management, uniting real asset capabilities across various sectors. The move reflects the growing demand for real asset investments and is expected to enhance Manulife's offerings in alternative asset classes.

Manulife Financial Corporation (MFC) announced the successful election of its director nominees at the Annual Meeting held on May 6, 2021. Key results include Nicole S. Arnaboldi receiving 99.67% of votes, while the lowest approval was for Joseph P. Caron at 98.97%. The detailed voting results demonstrate a strong endorsement from shareholders, reflecting confidence in the board's leadership. Final voting results will soon be available on the company's website and with securities regulators.