Manulife Finl Stock Price, News & Analysis

Manulife is donating $250,000 (CAD) to Project HOPE to provide essential medical supplies in Asia, particularly in India, amidst a resurgence of COVID-19. This contribution aims to support healthcare facilities by supplying oxygen, ICU beds, and PPE kits. Additionally, Manulife is activating an employee matching program to encourage further contributions from its global team. Over the past year, the company has donated nearly $5 million for various COVID-19 relief efforts, focusing on food security, mental health support, and healthcare worker well-being.

Manulife has announced it received two unsolicited mini-tender offers from Obatan LLC to purchase its common shares. The U.S. Offer aims to buy 500,000 shares at USD$13.00 each, representing a discount of approximately 39.88% from recent closing prices. The Canadian Offer seeks 100,000 shares at C$16.50, with a similar discount of 39.05%. Manulife advises shareholders to carefully consider these offers as they are below market prices and to consult their investment advisors. Manulife is not affiliated with Obatan and does not endorse these offers.

Manulife Financial Corporation (MFC) announced plans to redeem its outstanding U.S. $1 billion principal amount of 4.70% senior notes due June 23, 2046, on June 23, 2021. This redemption will occur at par, including any accrued interest up to the redemption date. Interest on the notes will cease to accrue on the redemption date. Manulife Financial, headquartered in Toronto, operates globally, offering financial services, insurance, and asset management, with over 30 million customers and $1.3 trillion in assets under management as of December 31, 2020.

Manulife Financial Corporation (MFC) announced it will not redeem its 6,335,831 Series 3 Preferred Shares or 1,664,169 Series 4 Preferred Shares on June 19, 2021. This allows holders to convert Series 3 shares to Series 4 shares and vice versa until June 4, 2021. If less than 1,000,000 shares of either series remain post-conversion, the remaining shares will automatically convert to the other series. Dividend rates for both series will be announced on May 21, 2021.

Manulife Financial Corporation announced plans to redeem all 17 million of its Non-cumulative Rate Reset Class 1 Shares Series 21 for cash on June 19, 2021. The redemption price will be C$25.00 per share, totaling C$425 million. A final quarterly dividend of C$0.35 per Series 21 Preferred Share will also be paid on the same date to shareholders of record by May 18, 2021. After the redemption, holders will lose their rights to dividends.

Manulife Investment Management released its inaugural stewardship report, highlighting its commitment to stewardship codes aligned with the UK stewardship principles. The firm aims to enhance asset management integrity through sustainability-focused corporate engagement. Over the last five years, it has increased discussions on sustainability with issuers and is a founding member of Climate Action 100+, representing over US$54 trillion in assets. The report emphasizes the importance of addressing systemic risks like climate change to enhance client value and manage portfolios effectively.

On April 16, 2021, Manulife Investment Management appointed Alex Catterick as Senior Managing Director for its high-net-worth strategy in Private Markets. This new role focuses on developing products for high-net-worth investors, aiming to broaden the company’s distribution. Manulife manages over $100 billion in assets under management, with significant commitments in private equity and infrastructure. Catterick's expertise, gained from his tenure at HSBC, is expected to enhance product innovation for high-net-worth investors traditionally limited to institutional offerings.

On April 15, 2021, John Hancock Retirement announced the expansion of its Personalized Retirement Advice program to include all defined contribution plans, particularly targeting over 45,000 401(k) plans. This initiative aims to provide personalized advice and investment management to participants, integrating tools for income projections and asset allocation. The decision is backed by findings that 87% of workers feel more prepared for retirement when their savings are professionally managed. As of December 31, 2020, John Hancock serviced over 51,000 retirement plans with assets exceeding $205 billion.

Manulife Financial Corporation will host a virtual Investor Day on June 29, 2021, featuring presentations from CEO Roy Gori and senior leadership. The event will focus on strategic growth in Asia and Global Wealth & Asset Management, along with advancements in its digital strategy. The webcast, starting at 8:00 a.m. EDT, will include live Q&A sessions for investors and analysts. Manulife operates under 'MFC' on multiple stock exchanges, managing over $1.3 trillion in assets and serving over 30 million customers worldwide.