Manulife Finl Stock Price, News & Analysis

Manulife Investment Management has appointed Joshua Liebow and Mateusz Szwarc as co-heads of junior credit for private markets. This leadership role aims to enhance the development of specialized funds and investment products for the global institutional client base. Both Josh and Matt bring extensive experience, having previously served as Managing Directors in equity co-investments and junior credit. As of December 31, 2020, Manulife Investment Management managed CAD$966 billion (US$758 billion) in assets.

Manulife Financial Corporation has received a favorable ruling from the Saskatchewan Court of Appeal regarding the Mosten Investment LP case. The court confirmed that unlimited deposits into universal life insurance contracts are prohibited, affirming that deposits must relate to premium payments. Manulife expressed confidence that the decision would not materially impact its business, reinforcing its operational stability.

John Hancock Retirement's 2021 study indicates that retirement readiness among participants remained relatively stable despite COVID-19's financial impact. From September 30, 2019, to the same date in 2020, the readiness rate dipped slightly from 49.6% to 47.9%. Average account balances reflected market trends, with younger participants seeing a 5.1% return, while those aged 60+ experienced a 2.6% decrease. The study highlights the importance of auto-enrollment and planning tools, which boosted contributions among participants. Challenges persist as 3.4% withdrew funds under the CARES Act, potentially jeopardizing future savings.

Manulife Financial Corporation (MFC) has completed a $2 billion offering of 3.375% Limited Recourse Capital Notes Series 1. In conjunction with this, MFC issued 2,000,000 Non-Cumulative Fixed Rate Reset Class 1 Shares Series 27, managed by Computershare Trust Company as the trustee of a new Limited Recourse Trust. Investors will have limited recourse to trust assets in case of default. The offering was conducted by a syndicate led by RBC Capital Markets and others, and the securities will not be registered under U.S. securities laws.

Manulife Financial Corporation (MFC) announced a plan to issue $2 billion in principal amount of 3.375% Limited Recourse Capital Notes Series 1. The issuance aligns with their strategy to bolster capital resources. The notes will have a maturity date of June 19, 2081, with interest resetting every five years. MFC will also issue 2,000,000 Non-Cumulative Fixed Rate Reset Class 1 Shares Series 27 to safeguard noteholder interests. Proceeds will be utilized for general corporate purposes. The offering is expected to close on February 19, 2021.

Manulife Financial Corporation has submitted its audited annual financial statements for the year ending December 31, 2020, alongside its Management Discussion and Analysis (MD&A). This filing was done with securities regulators in Canada and the U.S. and is accessible on the company’s website. As of December 31, 2020, Manulife reported $1.3 trillion in assets under management and administration and made $31.6 billion in payments to its customers in the past year. The company operates primarily in Canada, Asia, and the U.S., serving over 30 million customers with a workforce exceeding 37,000 employees.

On February 10, 2021, Manulife Financial Corporation announced quarterly dividends for its non-cumulative preferred shares, payable on or after March 19, 2021. Shareholders of record by February 23, 2021, will receive the following amounts per share: Class A Shares Series 2 - $0.29063, Series 3 - $0.28125; Class 1 Shares Series 3 - $0.136125, Series 4 - $0.092465, Series 5 - $0.243188, Series 7 - $0.2695, Series 9 - $0.271938, Series 11 - $0.295688, Series 13 - $0.275875, Series 15 - $0.236625, Series 17 - $0.2375, Series 19 - $0.229688, Series 21 - $0.35, Series 23 - $0.303125, Series 25 - $0.29375.

Manulife Financial Corporation's Board of Directors declared a quarterly dividend of $0.28 per share on common shares, payable on or after March 19, 2021. Shareholders of record by the close of business on February 23, 2021 will receive this dividend. The Company will utilize its Canadian and U.S. Dividend Reinvestment and Share Purchase Plans to purchase common shares on the open market. As of December 31, 2020, Manulife managed $1.3 trillion in assets and served over 30 million customers globally, reinforcing its status as a leading financial services group.

Manulife Financial Corporation reported a net income attributed to shareholders of $5.9 billion for 2020, increasing by $0.3 billion from 2019, with $1.8 billion in 4Q20. However, core earnings declined to $5.5 billion, down $0.5 billion from the previous year.

Despite a strong LICAT ratio of 149%, new business value (NBV) dropped by 13% year-over-year, and annual premium equivalent (APE) sales fell 8%. Manulife achieved $8.9 billion in global wealth and asset management net inflows, contrasting a $0.9 billion outflow in 2019.