Sun Life Announces Dividend Rates on Class A Non-Cumulative Rate Reset Preferred Shares Series 10R and Class A Non-Cumulative Floating Rate Preferred Shares Series 11QR

Rhea-AI Summary

Sun Life (TSX/NYSE: SLF) has set new dividend rates for its Class A preferred shares. From September 30, 2026 to September 30, 2031, Series 10R will pay a fixed dividend of 5.519% per annum ($0.344938 per share quarterly). For Series 11QR, the quarterly dividend from September 30, 2026 to December 31, 2026 will be based on the T-Bill rate plus 2.17%, equal to 4.459% per annum ($0.280978 per share) for that period. Beneficial owners wishing to convert between Series 10R and 11QR must act through their broker by 5:00 p.m. ET on September 16, 2026.

Positive

• Series 10R fixed rate set at 5.519% per annum for 2026–2031
• Series 11QR initial floating rate set at 4.459% per annum for Q4 2026
• Clear conversion deadline of September 16, 2026 at 5:00 p.m. ET

Negative

• None.

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TORONTO, Aug. 31, 2026 /PRNewswire/ -- Sun Life Financial Inc. (TSX: SLF) (NYSE: SLF) today announced the applicable dividend rates for its Class A Non-Cumulative Rate Reset Preferred Shares Series 10R (the "Series 10R Shares") and Class A Non-Cumulative Floating Rate Preferred Shares Series 11QR (the "Series 11QR Shares").

With respect to any Series 10R Shares that remain outstanding after September 30, 2026, commencing as of such date, holders thereof will be entitled to receive non-cumulative preferential cash dividends on a quarterly basis, as and when declared by the Board of Directors of Sun Life and subject to the Insurance Companies Act (Canada). The dividend rate for the five-year period commencing on September 30, 2026 to but excluding September 30, 2031 will be 5.519% per annum or $0.344938 per share per quarter, being equal to the sum of the Government of Canada Yield, as defined in the terms of the Series 10R Shares, on Monday, August 31, 2026 plus 2.17%, as determined in accordance with the terms of the Series 10R Shares.

With respect to any Series 11QR Shares that remain outstanding after September 30, 2026, holders thereof will be entitled to receive floating rate non-cumulative preferential cash dividends on a quarterly basis, as and when declared by the Board of Directors of Sun Life and subject to the Insurance Companies Act (Canada), based on a dividend rate equal to the sum of the T-Bill Rate, as defined in the terms of the Series 11QR Shares, plus 2.17% (calculated on the basis of the actual number of days elapsed in such Quarterly Floating Rate Period divided by 365 days), subject to certain adjustments in accordance with the terms of the Series 11QR Shares. The dividend rate for the period commencing on September 30, 2026 to but excluding December 31, 2026 will be equal to 4.459% per annum or $0.280978 per share, as determined in accordance with the terms of the Series 11QR Shares.

Beneficial owners of Series 10R Shares and Series 11QR Shares who wish to exercise their right of conversion should communicate as soon as possible with their broker or other nominee and ensure that they follow their instructions in order to meet the deadline to exercise such right, which is 5:00 p.m. (ET) on Wednesday, September 16, 2026.

The Series 10R Shares and the Series 11QR Shares have not been and will not be registered under the United States Securities Act of 1933, as amended, and subject to certain exceptions, may not be offered, sold or delivered, directly or indirectly, in the United States of America for the account or benefit of U.S. persons. This release does not constitute an offer to sell or a solicitation to buy such securities in the United States.

About Sun Life

Sun Life is a leading international financial services organization providing asset management, wealth, insurance and health solutions to individual and institutional Clients. Sun Life has operations in a number of markets worldwide, including Canada, the United States, the United Kingdom, Ireland, Hong Kong, the Philippines, Japan, Indonesia, India, China, Australia, Singapore, Vietnam, Malaysia and Bermuda. As of June 30, 2026, Sun Life had total assets under management of $1.70 trillion. For more information, please visit sunlife.com. 

Sun Life Financial Inc. trades on the Toronto (TSX), New York (NYSE) and Philippine (PSE) stock exchanges under the ticker symbol SLF.

Note to editors: All figures in Canadian dollars

To contact Sun Life media relations, please email Media.Relations@sunlife.com

To contact Sun Life investor relations, please email Investor_Relations@sunlife.com

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SOURCE Sun Life Financial Inc. - Financial News

FAQ

What new dividend rate did Sun Life (SLF) set for its preferred Series 10R shares starting September 30, 2026?

Sun Life set a fixed dividend rate of 5.519% per annum on Series 10R from September 30, 2026 to September 30, 2031. According to Sun Life, this equals $0.344938 per share per quarter, based on the Government of Canada Yield plus 2.17%.

What is the dividend rate for Sun Life (SLF) preferred Series 11QR shares from September 30 to December 31, 2026?

For that period, Series 11QR will pay 4.459% per annum, or $0.280978 per share. According to Sun Life, the floating rate equals the T-Bill Rate plus 2.17%, calculated over the actual days in the quarter divided by 365.

When is the conversion deadline between Sun Life Series 10R and Series 11QR preferred shares (SLF)?

The conversion election deadline is 5:00 p.m. (ET) on September 16, 2026. According to Sun Life, beneficial owners must contact their broker or nominee promptly and follow their instructions to exercise their right of conversion on time.

How often will Sun Life (SLF) pay dividends on its Series 10R and Series 11QR preferred shares after September 30, 2026?

Both Series 10R and Series 11QR dividends are payable on a quarterly basis, if declared. According to Sun Life, these are non-cumulative preferential cash dividends, subject to Board approval and the Insurance Companies Act (Canada).

Are Sun Life Series 10R and 11QR preferred shares (SLF) registered for offer in the United States?

No. Sun Life’s Series 10R and 11QR preferred shares are not registered under the U.S. Securities Act of 1933. According to Sun Life, they generally may not be offered, sold, or delivered in the United States or to U.S. persons, subject to limited exceptions.

What are Sun Life’s assets under management as of June 30, 2026, relevant for SLF investors?

Sun Life reported $1.70 trillion in assets under management as of June 30, 2026. According to Sun Life, it operates globally across multiple markets, providing asset management, wealth, insurance, and health solutions to individual and institutional clients.