Welcome to our dedicated page for Sun Life Finl news (Ticker: SLF), a resource for investors and traders seeking the latest updates and insights on Sun Life Finl stock.
Sun Life Financial Inc. reports recurring developments across its international financial services business, including insurance, wealth, health and asset management solutions for individual and institutional clients. Company updates commonly cover quarterly results, assets under management, segment trends in Canada, the U.S., Asia and asset management, and the performance of Sun Life Asset Management and U.S. Health & Risk Solutions.
News also includes capital actions such as common and preferred share dividends, dividend reinvestment plan mechanics, director elections, annual meeting voting results, executive and governance matters, and partnership activity tied to health and community programs. Sun Life trades under SLF on the Toronto, New York and Philippine stock exchanges.
Sun Life Financial Inc. (TSX: SLF) has announced its plan to redeem $300 million of Class A Non-Cumulative Rate Reset Preferred Shares Series 12R on December 31, 2021. The redemption price is set at $25.00 per share, including all declared and unpaid dividends. The final quarterly dividend of $0.237875 per share will also be paid on the same date to shareholders recorded as of November 24, 2021. As of September 30, 2021, Sun Life had total assets under management of $1.39 trillion.
On November 18, 2021, Sun Life Financial Inc. (TSX: SLF) completed a public offering in Canada, raising $2 billion through the issuance of subordinated unsecured debentures across three series. The offerings include $500 million of Series 2021-1 (2.46% due 2031), $1 billion of Series 2021-2 (2.80% due 2033), and $500 million of Series 2021-3 (3.15% due 2036). The proceeds will fund general corporate purposes, including a portion of the acquisition of DentaQuest Group, Inc. and other strategic investments.
On November 16, 2021, Sun Life Financial Inc. (TSX: SLF) announced an offering of $2 billion in subordinated unsecured debentures: Series 2021-1 ($500 million), Series 2021-2 ($1 billion), and Series 2021-3 ($500 million). The issuance is set to close on November 18, 2021. Proceeds will fund various corporate needs, including the acquisition of DentaQuest Group, Inc. The debentures are expected to qualify for Tier 2 capital upon closing of the acquisition. Notably, redemption of Series 2021-2 and 2021-3 is contingent on the acquisition's closure before October 3, 2022.
Sun Life U.S. awarded $350,000 in grants to six organizations as part of their Team Up Against Diabetes program, aimed at supporting diabetes prevention and management in underserved communities. The initiative is part of Sun Life's philanthropic efforts to address healthcare access disparities highlighted by the pandemic. Each recipient will utilize the funds for innovative diabetes support programs, nutrition access, and educational initiatives. Since 2016, Sun Life has donated over $1.35 million to diabetes-related programs across the U.S.
Sun Life Financial Inc. (TSX: SLF) announced a dividend of $0.11 per share on common shares, payable on December 31, 2021. Shareholders will receive a total quarterly dividend of $0.66 per share, marking a 20% increase from the previous dividend. This decision follows OSFI's recent removal of restrictions on dividend increases that were in place since March 2020 due to the pandemic. Sun Life remains committed to a dividend payout ratio of 40-50% as part of its financial goals, highlighting its focus on delivering shareholder value.
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Sun Life Financial Inc. (TSX: SLF) announced a dividend of $0.55 per share on common shares, payable on December 31, 2021, to shareholders of record by November 24, 2021. This dividend matches the amount paid in the previous quarter. Additionally, several dividends for Class A Non-Cumulative Preferred Shares were declared, with amounts ranging from $0.100633 to $0.28125 per share. All dividends are designated as eligible dividends under Canadian tax laws.
Sun Life Financial Inc. (SLF) reported strong Q3 2021 results with a net income of $1,019 million, a 36% increase from Q3 2020, and an underlying net income of $902 million, up 7%. The company saw positive growth in insurance sales, particularly in Canada, where there was a 24% increase. Sun Life also raised its medium-term financial objective for underlying ROE to over 16% due to improved business performance. The company's commitment to sustainability is exemplified by the appointment of its first Chief Sustainability Officer and plans to achieve net-zero by 2050.
Sun Life Financial Inc. (TSX: SLF, NYSE: SLF) has appointed Ingrid Johnson as the new President of Sun Life Asia effective October 26, 2021. Johnson will oversee operations in eight Asian markets, including China and India, focusing on life, health, and wealth management. She succeeds Léo Grépin, who departed on October 15, 2021.
With over 25 years of experience in the financial services and insurance industries, Johnson previously served as Group Finance Director at Old Mutual plc, playing a key role in the company's restructuring.
Sun Life Financial Inc. (TSX: SLF) will announce its third quarter 2021 financial results on November 3, 2021, after market closure. An earnings conference call and live webcast is scheduled for November 4, 2021, at 10:00 a.m. ET. Investors can access the webcast and presentation slides via the company's website. The call will be available by telephone for participants, and an archive will be accessible post-event. Sun Life reported total assets under management of $1.36 trillion as of June 30, 2021.