Manulife Finl Stock Price, News & Analysis

John Hancock Investment Management has appointed Frances G. Rathke as an Independent Trustee of the John Hancock Group of Funds Board of Trustees, effective September 15, 2020. With a solid background in corporate finance and experience in consumer brands, Rathke is expected to bring valuable insights to the board. She has held senior positions at companies such as Keurig Green Mountain and Ben & Jerry's, and is qualified as a certified public accountant. Additionally, she joins various committees including the Audit, Nominating and Governance, and Investment Committees.

John Hancock Retirement reports strong resilience among retirement savers amid the COVID-19 pandemic. As of July 2020, over 1 million participants maintained their savings allocations, with only a small fraction opting for coronavirus-related distributions. The company emphasizes the effectiveness of retirement plan design, highlighting that 63% of participants utilizing automatic enrollment and increases are retirement-ready. The data reveals that younger participants, especially those aged 30-39, exhibit higher retirement readiness rates, reinforcing the importance of proactive plan features.

John Hancock Retirement, a part of Manulife Investment Management, has been selected by U.S. Toray Group Companies to provide retirement plan services for nearly 2,400 participants. The plan, valued at approximately $250 million in assets, will enhance retirement planning for Toray's U.S. employees. John Hancock aims to create a personalized plan that reflects the unique needs of each participant. As of June 30, 2020, John Hancock managed over $177 billion in assets under management across more than 51,000 retirement plans.

On September 10, 2020, Roy Gori, the President and CEO of Manulife, will present at the 21st Scotiabank Financials Summit starting at 8:30 a.m. EST. Interested attendees can access the live audio webcast or find a replay available for three months after the event. As of June 30, 2020, Manulife had $1.2 trillion in assets under management and provided $30.6 billion in payments to customers over the past year.

Manulife announced the resignation of Rona Ambrose from its Board of Directors effective August 31, 2020. She leaves to pursue a full-time employment opportunity. The Chairman, John Cassaday, recognized her valuable contributions over the past three years. Manulife is a prominent international financial services group based in Toronto, with significant operations in Asia, Canada, and the United States. As of June 30, 2020, the company had over $1.2 trillion in assets under management and administration.

Manulife Financial Corporation (MFC) has priced an offering of U.S. $1.155 billion 3.050% senior notes due August 27, 2060. The offering is set to close around August 27, 2020, with proceeds allocated for general corporate purposes. The notes can be redeemed in whole starting August 27, 2025. They will be sold exclusively to professional institutional investors in Taiwan and will not be registered under U.S. securities laws.

On August 5, 2020, Manulife Financial Corporation announced quarterly dividends for its non-cumulative preferred shares, payable on or after September 19, 2020. Shareholders of record by August 17, 2020, will receive varying dividend amounts, including $0.29063 for Class A Shares Series 2 and $0.35 for Class 1 Shares Series 21. Manulife operates globally, managing over $1.2 trillion in assets and serving nearly 30 million customers.

Manulife Financial Corporation's Board of Directors has declared a quarterly dividend of $0.28 per share on common shares, payable on or after September 21, 2020. Shareholders on record by the close of business on August 17, 2020 will receive this dividend. The company will purchase common shares for its Dividend Reinvestment and Share Purchase Plans at market prices, without applicable discounts. As of June 30, 2020, Manulife had $1.2 trillion in assets under management and administration, serving nearly 30 million customers globally.

Manulife Financial Corporation reported its 2Q20 results with net income of $727 million, down from $1.475 billion in 2Q19. Core earnings increased by 5% year-over-year to $1.561 billion, while the core return on equity was 12.2%. New business value declined by 22% to $384 million. APE sales fell 15% to $1.176 billion. The company achieved a strong LICAT ratio of 155% and reported net inflows of $5.1 billion in Wealth and Asset Management. The expense efficiency ratio improved to 48.9%, reflecting a 3.6 percentage point decline from the previous year.