Sun Life increases Common Share dividend and declares dividends on Preferred Shares payable in Q4 2023

Rhea-AI Summary

Sun Life Financial Inc. (SLF) Announces Dividend Increase: Sun Life Financial Inc. (SLF) has declared a dividend of $0.78 per share on its common shares, representing a 3 cent increase from the previous quarter. Additionally, dividends have been declared on the Company's Class A Non-Cumulative Preferred Shares. The dividends are payable on December 29, 2023, to shareholders of record on November 29, 2023. The Company has designated the dividends as eligible dividends for the purposes of the Income Tax Act (Canada).

Positive

• The dividend increase signals the company's confidence in its financial position and future prospects.
• Designating the dividends as eligible dividends for the Income Tax Act (Canada) may attract investors seeking tax-efficient investment opportunities.

Negative

• None.

TORONTO, Nov. 13, 2023 /PRNewswire/ - The Board of Directors (the "Board") of Sun Life Financial Inc. (the "Company") (TSX: SLF) (NYSE: SLF) today announced that a dividend of $0.78 per share on the common shares of the Company has been declared, payable December 29, 2023 to shareholders of record at the close of business on November 29, 2023. This represents a 3 cent increase to the amount paid in the previous quarter.

The Board also announced that the following dividends have been declared on the Company's Class A Non-Cumulative Preferred Shares, payable on December 29, 2023 to shareholders of record at the close of business on November 29, 2023:

Series 3	$0.278125 per share
Series 4	$0.278125 per share
Series 5	$0.28125 per share
Series 8R	$0.114063 per share
Series 9QR	$0.413811 per share
Series 10R	$0.185438 per share
Series 11QR	$0.461701 per share

Common shares of the Company acquired under the Company's Canadian Dividend Reinvestment and Share Purchase Plan (the "Plan") will be purchased by the Plan agent on the open market through the facilities of the Toronto Stock Exchange and through the facilities of other Canadian stock exchanges and alternative Canadian trading platforms.

Sun Life Financial Inc. has designated the dividends referred to above as eligible dividends for the purposes of the Income Tax Act (Canada).

About Sun Life

Sun Life is a leading international financial services organization providing asset management, wealth, 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 September 30, 2023, Sun Life had total assets under management of $1.34 trillion. For more information, please visit www.sunlife.com.

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

Note to editors: All figures in Canadian dollars

Media Relations Contact:	Investor Relations Contact:
Krista Wilson	David Garg
Director	Senior Vice-President, Capital
Corporate Communications	Management and Investor Relations
T. 226-751-2391	T. 416-408-8649
krista.wilson@sunlife.com	david.garg@sunlife.com

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SOURCE Sun Life Financial Inc.

What is the dividend amount declared by Sun Life Financial Inc. for its common shares?

Sun Life Financial Inc. has declared a dividend of $0.78 per share on its common shares.

When are the dividends payable to shareholders of Sun Life Financial Inc.?

The dividends are payable on December 29, 2023, to shareholders of record on November 29, 2023.

How has the dividend amount changed from the previous quarter for Sun Life Financial Inc.?

The dividend amount has increased by 3 cents per share compared to the previous quarter for Sun Life Financial Inc.

What are eligible dividends for the purposes of the Income Tax Act (Canada)?

Eligible dividends for the purposes of the Income Tax Act (Canada) are dividends designated by a Canadian corporation as such, which may have tax advantages for investors.