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Manulife Financial Corporation announces Dividend Rates on Non-cumulative Rate Reset Class 1 Shares Series 17 and Non-cumulative Floating Rate Class 1 Shares Series 18
Manulife Financial Corporation announces Dividend Rates on Non-cumulative Rate Reset Class 1 Shar...
About this update from Manulife Financial Corporation
[{"type":"text","content":"\n\n\n\n Manulife Financial Corporation announces Dividend Rates on Non-cumulative Rate Reset Class 1 Shares Series 17 and Non-cumulative Floating Rate Class 1 Shares Series 18\n \n\n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n\n\n\n\n\n Canada NewsWire\n \n\n\n\n C$ unless otherwise stated                                                                                   TSX/NYSE/PSE: MFC     SEHK: 945\n \n\n\n\n TORONTO\n \n\n ,\n \n\n Nov. 20, 2024\n \n\n /CNW/ - Manulife Financial Corporation (\"Manulife\") today announced the applicable dividend rates for its Non-cumulative Rate Reset Class 1 Shares Series 17 (the \"Series 17 Preferred Shares\") (TSX: MFC.PR.M) and Non-cumulative Floating Rate Class 1 Shares Series 18 (the \"Series 18 Preferred Shares\").\n \n\n\n\n\n\n\n\n\n With respect to any Series 17 Preferred Shares that remain outstanding after\n \n December 19, 2024\n \n , holders thereof will be entitled to receive fixed rate non-cumulative preferential cash dividends on a quarterly basis, as and when declared by the Board of Directors of Manulife and subject to the provisions of the\n \n Insurance Companies Act\n \n (\n \n Canada\n \n ). The dividend rate for the five-year period commencing on\n \n December 20, 2024\n \n , and ending on December 19, 2029, will be 5.54200% per annum or\n \n $0.346375\n \n per share per quarter, being equal to the sum of the five-year Government of\n \n Canada\n \n bond yield as at\n \n November 20, 2024\n \n , plus 2.36%, as determined in accordance with the terms of the Series 17 Preferred Shares.\n \n\n With respect to any Series 18 Preferred Shares that may be issued in connection with the conversion o...