Manulife Finl Stock Price, News & Analysis

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.

Hancock Natural Resource Group, part of Manulife Investment Management, has acquired a majority stake in Chilean fruit production and export firm David Del Curto S.A. This acquisition diversifies Manulife's agricultural portfolio under its Farmland Plus initiative. DDC operates over 11 farms and three packing facilities, producing a variety of fruits and managing significant sales relationships in global markets. The acquisition aims to expand operations and enhance marketing partnerships, leveraging DDC's strong market position and the expertise of its existing management team.

Manulife Investment Management's Global Intelligence report forecasts a promising global economic recovery, focusing on COVID-19's impact on sustainable investing and fixed income strategies. Key insights reveal a K-shaped recovery, rising inflation, and opportunities in Asian fixed income. The report emphasizes the growing demand for ESG investments, particularly in light of the Paris Agreement, while also highlighting the importance of flexibility in real estate investments. As of September 30, 2020, the firm manages CAD$923 billion (US$692 billion) in assets.

Manulife Financial Corporation (MFC) will announce its fourth quarter and year-end 2020 financial results on February 10, 2021, after market close. A conference call to discuss the results will take place on February 11, 2021, at 8:00 a.m. ET, featuring CEO Roy Gori and CFO Phil Witherington. Interested parties can access the call via phone or through a live webcast. The company, headquartered in Toronto, Canada, reported $1.3 trillion in assets under management as of September 30, 2020, and provided $31.2 billion in payments to customers in the past year.