Manulife Finl Stock Price, News & Analysis

Manulife is empowering its 35,000 global employees by providing the equivalent of $50 CAD each to support acts of kindness in their communities this holiday season. Forgoing year-end celebrations and gifts, the initiative encourages employees to donate or share their support stories online using #ManulifeActofKindness. In 2020, Manulife has donated nearly $5 million for various causes, including food security and healthcare support. With $1.3 trillion in assets under management, Manulife continues to strengthen its commitment to community well-being.

Hancock Natural Resource Group, part of Manulife Investment Management, has acquired approximately 149,000 acres of timberlands in southern Oregon from Weyerhaeuser Company. This acquisition aligns with Manulife's strategy to enhance private market opportunities across various sectors including timber and agriculture. Since 2017, the firm has acquired over 200,000 acres in the region, managing 635,000 acres in Oregon alone. The timberlands are well-stocked with Douglas-fir and white woods timber and are expected to be managed sustainably, benefiting local communities and the environment.

John Hancock Investment Management has significantly expanded its model portfolio availability, now accessible to over 50,000 advisors across various platforms. This growth, more than doubling in the past year, includes participation from broker-dealers, asset management platforms, and marketplaces. The portfolios, designed by Manulife Investment Management, utilize an open-architecture approach, enhancing diversification and risk management. Recent additions include ETF-only models and new income models to meet current investor demands.

Manulife Financial Corporation announced its plan to redeem its $350 million 2.389% Fixed/Floating Subordinated Debentures on January 5, 2021, at par value. This redemption will include accrued and unpaid interest until the redemption date. The company will provide formal notice to the debenture holders according to its Amended and Restated Trust Indenture. Manulife serves nearly 30 million customers with over $1.3 trillion in assets under management as of September 30, 2020, operating under the trade symbol 'MFC'.

Manulife has announced enhanced family leave benefits for its employees in Canada, effective January 1, 2021. This includes 20 weeks of paid maternity leave and 12 weeks for parental and adoption leave. Additionally, the company offers up to $20,000 for adoption and surrogacy support and comprehensive coverage for transgender care. These initiatives aim to reflect the company's commitment to diversity and employee well-being. Manulife's benefits have evolved since 2017, including mental health support and new medical marijuana coverage in Canada.

Manulife has appointed Leagh Turner to its Board of Directors, effective November 10, 2020. Ms. Turner, currently the President and COO of Ceridian HCM Holding Inc., brings extensive experience in technology and organizational transformation. She is also recognized for her advocacy for women in leadership, having been named among Canada's Top 100 Most Powerful Women twice. Ms. Turner will serve on the Management Resources and Compensation Committee and the Risk Committee, contributing to Manulife's strategy as a digital customer leader.

Manulife Financial Corporation has declared quarterly dividends for various non-cumulative preferred shares, effective December 19, 2020. Shareholders on record by November 23, 2020, will receive the following payments:

• Class A Shares Series 2: $0.29063
• Class A Shares Series 3: $0.28125
• Class 1 Shares Series 3: $0.136125
• Class 1 Shares Series 4: $0.09767
• Class 1 Shares Series 5: $0.243188
• Class 1 Shares Series 7: $0.2695
• Class 1 Shares Series 9: $0.271938
• Class 1 Shares Series 11: $0.295688
• Class 1 Shares Series 13: $0.275875
• Class 1 Shares Series 15: $0.236625
• Class 1 Shares Series 17: $0.2375
• Class 1 Shares Series 19: $0.229688
• Class 1 Shares Series 21: $0.35
• Class 1 Shares Series 23: $0.303125
• Class 1 Shares Series 25: $0.29375

Manulife Financial Corporation announced a quarterly dividend of $0.28 per share on common shares. This dividend is payable on and after December 21, 2020, to shareholders of record as of the close of business on November 23, 2020. Additionally, Manulife will purchase common shares in connection with its Canadian and U.S. Dividend Reinvestment and Share Purchase Plans. The average purchase price will be based on actual costs without applicable discounts.

Manulife Financial Corporation reported a strong 3Q20, achieving a net income attributed to shareholders of $2.1 billion, significantly up from $723 million in 3Q19. Core earnings decreased by 6% to $1.5 billion, influenced by reduced investment income and lower new business volumes. Notably, new business value fell 14% to $460 million, with Asia experiencing a 16% decline. The company maintained a robust LICAT ratio of 155%. Despite challenges from COVID-19, Manulife's capital optimization and expense management strategies have shown positive results, reinforcing confidence in future growth.