Welcome to our dedicated page for Manulife Finl news (Ticker: MFC), a resource for investors and traders seeking the latest updates and insights on Manulife Finl stock.
Manulife Financial Corporation reports developments across its international insurance, financial advice, health solutions, and wealth and asset management businesses. The company operates as Manulife in Canada and Asia and primarily as John Hancock in the United States, with news commonly covering insurance distribution, retirement services, investment solutions, customer health and longevity initiatives, and community programs.
Recurring updates also include quarterly and annual results, dividend announcements, annual meeting materials, management information circulars, shareholder voting matters, executive conference participation, and capital actions involving common and preferred shares. News from John Hancock adds detail on U.S. insurance sales, executive benefits, the John Hancock Vitality program, and longevity-focused research and planning tools.
Manulife Investment Management has appointed Christoph Schumacher as the global head of real assets, private markets, effective immediately. This newly established position aims to drive the firm's private real assets strategy and oversee investment solutions globally. Schumacher will manage $42.9 billion in assets under management, uniting real asset capabilities across various sectors. The move reflects the growing demand for real asset investments and is expected to enhance Manulife's offerings in alternative asset classes.
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Manulife Financial Corporation (MFC) announced the successful election of its director nominees at the Annual Meeting held on May 6, 2021. Key results include Nicole S. Arnaboldi receiving 99.67% of votes, while the lowest approval was for Joseph P. Caron at 98.97%. The detailed voting results demonstrate a strong endorsement from shareholders, reflecting confidence in the board's leadership. Final voting results will soon be available on the company's website and with securities regulators.
Manulife has committed to achieving net zero emissions by 2050, alongside a 35% reduction in scope 1 and 2 emissions by 2035. The initiative involves leveraging its substantial resources, including over C$1 trillion in assets and a large workforce, to support climate solutions. Key areas of focus include emission reductions in operations, sustainable investments, and the development of climate-smart products. Manulife is also aligning executive performance goals with climate action, emphasizing sustainable growth and resilience in its offerings.
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.