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Manulife Financial Corporation announces results of Conversion Privilege of Non-cumulative Rate Reset Class 1 Shares Series 19
Manulife Financial Corporation announces results of Conversion Privilege of Non-cumulative Rate R...
About this update from Manulife Financial Corporation
[{"type":"text","content":"\n\n\n\n Manulife Financial Corporation announces results of Conversion Privilege of Non-cumulative Rate Reset Class 1 Shares Series 19\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 March 5, 2025\n \n\n /CNW/ - Manulife Financial Corporation (\"Manulife\") today announced that after having taken into account all election notices received by the\n \n March 4, 2025\n \n deadline for conversion of its currently outstanding 10,000,000 Non-cumulative Rate Reset Class 1 Shares Series 19 (the \"Series 19 Preferred Shares\") (TSX: MFC.PR.N) into Non-cumulative Floating Rate Class 1 Shares Series 20 of Manulife (the \"Series 20 Preferred Shares\"), the holders of Series 19 Preferred Shares are not entitled to convert their Series 19 Preferred Shares into Series 20 Preferred Shares. There were 3,700 Series 19 Preferred Shares elected for conversion, which is less than the minimum one million shares required to give effect to conversions into Series 20 Preferred Shares.\n \n\n\n\n\n\n\n\n\n As announced by Manulife on\n \n February 18, 2025\n \n , after\n \n March 19, 2025\n \n , holders of Series 19 Preferred Shares 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 March 20, 2025, and ending on March 19, 2030, will be 5.16900% per annum or $0.323063 per share pe...