Manulife Finl Stock Price, News & Analysis

Manulife (TSX/NYSE/PSE: MFC) has announced two strategic appointments to its Board of Directors, effective February 28, 2025. Nancy Carroll, a former partner at McCarthy Tétrault LLP with over 40 years of insurance and financial services legal expertise, and John Montalbano, a former CEO of RBC Global Asset Management and current Principal of Tower Beach Capital , will join the board.

Carroll brings extensive experience in regulatory, M&A, compliance, and governance matters in the insurance sector. She will serve on the Audit Committee and Corporate Governance and Nominating Committee. Montalbano, with his wealth and asset management background, will join the Management Resources and Compensation Committee and Risk Committee.

Manulife Financial (TSX/NYSE/PSE: MFC, SEHK: 945) has announced the filing of its 2024 audited annual financial statements and related Management Discussion and Analysis (MD&A) for the year ended December 31, 2024. The documents have been filed with both the Canadian Securities Administrators and the U.S. Securities and Exchange Commission on Form 40-F.

The financial information is accessible on Manulife's website in the investors section. Shareholders can request physical copies of these documents at no cost through the company's website.

Manulife Financial (TSX/NYSE/PSE: MFC) has announced its quarterly preferred share dividends for multiple share classes. The dividends will be paid on or after March 19, 2025 to shareholders of record as of March 5, 2025.

The dividend payments vary by share class, ranging from $0.14675 to $0.396875 per share. The announcement covers eleven different preferred share series, including Class A Shares Series 2 and 3, and Class 1 Shares Series 3, 4, 9, 11, 13, 15, 17, 19, and 25.

Manulife (MFC) has announced a significant increase in its quarterly dividend for common shareholders. The Board of Directors approved a 10.0% increase, raising the dividend by 4 cents to $0.44 per share. The dividend will be payable on March 19, 2025, to shareholders of record as of March 5, 2025.

Regarding the company's Canadian and U.S. Dividend Reinvestment and Share Purchase Plans, Manulife will purchase common shares on the open market for dividend reinvestment and optional cash purchases. The purchase price will be based on the average actual cost without any applicable discounts.

Manulife Financial (MFC) has announced a new Normal Course Issuer Bid (NCIB) program to repurchase and cancel up to 51.5 million common shares, representing approximately 3% of its issued and outstanding shares. The program will run from February 24, 2025, to February 23, 2026.

The company can purchase up to 1,420,093 shares daily on the TSX, representing 25% of the average daily trading volume. Purchases will be made through TSX, NYSE, and alternative trading systems at prevailing market prices. Under its previous 2024 NCIB program, Manulife has already repurchased 88,466,133 shares at an average price of $39.11 per share.

The NCIB provides Manulife flexibility in its capital management strategy, balancing regulatory capital ratios with shareholder value generation. The company may also undertake repurchases outside North America and enter into derivative-based programs, subject to regulatory approval.

Manulife Financial (MFC) reported strong full year and fourth quarter results for 2024, with record core earnings of $7.2 billion, up 8% from 2023, and $1.9 billion in Q4, up 6% year-over-year. Net income attributed to shareholders reached $5.4 billion in 2024, a $0.3 billion increase from 2023.

The company achieved significant growth across key metrics, including core EPS of $3.87 (up 11%) and core ROE of 16.4%. Insurance new business results showed remarkable growth with 30%+ increases in APE sales, new business CSM, and NBV. Global WAM generated $13.3 billion in net inflows.

Notable developments include a 10% increase in quarterly dividend per common share and the announcement of a new NCIB program to repurchase up to 3% of outstanding common shares. The company also completed significant reinsurance transactions, including two LTC blocks, demonstrating progress in portfolio transformation.

Manulife Financial (MFC) has announced dividend rates for its Non-cumulative Rate Reset Class 1 Shares Series 19 and Non-cumulative Floating Rate Class 1 Shares Series 20. For Series 19 Preferred Shares outstanding after March 19, 2025, holders will receive fixed rate non-cumulative preferential cash dividends quarterly at 5.16900% per annum ($0.323063 per share per quarter) for the period from March 20, 2025, to March 19, 2030.

For Series 20 Preferred Shares, holders will receive floating rate dividends quarterly. The initial rate for March 20, 2025, to June 19, 2025, will be 1.29430% (5.13500% annualized) or $0.323575 per share. The Toronto Stock Exchange has conditionally approved listing Series 20 Preferred Shares under symbol MFC.PR.S. Beneficial owners of Series 19 shares can exercise conversion rights through their broker by March 4, 2025, 5:00 p.m. Toronto time.

Manulife Financial (MFC) has announced it will not exercise its right to redeem its 10,000,000 Non-cumulative Rate Reset Class 1 Shares Series 19 on March 19, 2025. Instead, shareholders have the option to convert their Series 19 Preferred Shares to Series 20 Preferred Shares on a one-for-one basis.

Key conversion conditions include automatic conversion if less than 1,000,000 Series 19 Preferred Shares would remain outstanding, or no conversion if less than 1,000,000 Series 20 Preferred Shares would result. The Toronto Stock Exchange has conditionally approved listing of Series 20 Preferred Shares under the symbol 'MFC.PR.S'.

Dividend rates for both series will be announced on February 18, 2025. Shareholders wishing to convert must instruct their broker before 5:00 p.m. (Toronto time) on March 4, 2025.

Manulife Financial (TSX/NYSE/PSE: MFC) has announced it will release its fourth quarter and full year 2024 financial results after market close on Wednesday, February 19, 2025. The company will host a live webcast and conference call on Thursday, February 20, 2025, at 8:00 a.m. ET, where executive leadership will discuss results and conduct a Q&A session with analysts.

The conference call can be accessed via 1-800-806-5484 or 1-416-340-2217 (Passcode: 8414068#). The archived webcast will be available on Manulife's investor website, and a replay will be accessible until March 22, 2025, by calling 1-800-408-3053 or 1-905-694-9451 (Passcode: 7315507#).