Manulife Financial Corp (NYSE:MFC) Plans Quarterly Dividend of C$0.48

Key Points

• Manulife declared a quarterly dividend of C$0.485 per share, payable September 21 to shareholders of record on August 21, implying a 4.4% yield. The company has raised its dividend for 12 consecutive years.
• Manulife reported quarterly EPS of $0.79, slightly above analysts’ $0.78 estimate, while revenue increased 7.3% year over year. Analysts project $3.03 EPS for the current fiscal year.
• MFC shares opened at $44.52, near their 52-week high of $44.89, with a market capitalization of approximately $74 billion. Institutional investors own 52.56% of the stock.

Manulife Financial Corp (NYSE:MFC - Get Free Report) TSE: MFC announced a quarterly dividend on Wednesday, August 5th. Stockholders of record on Friday, August 21st will be given a dividend of 0.485 per share by the financial services provider on Monday, September 21st. This represents a c) dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date is Friday, August 21st.

Manulife Financial has increased its dividend by an average of 0.1%per year over the last three years and has increased its dividend annually for the last 12 consecutive years. Manulife Financial has a dividend payout ratio of 44.7% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Manulife Financial to earn $3.26 per share next year, which means the company should continue to be able to cover its $1.42 annual dividend with an expected future payout ratio of 43.6%.

Manulife Financial Trading Down 0.6%

MFC stock opened at $44.52 on Thursday. The firm has a market capitalization of $73.98 billion, a PE ratio of 17.67 and a beta of 0.84. Manulife Financial has a 1-year low of $29.70 and a 1-year high of $44.89. The business's 50 day simple moving average is $41.27 and its 200 day simple moving average is $38.37.

Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC last issued its quarterly earnings data on Wednesday, August 5th. The financial services provider reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.01. The firm had revenue of $2.22 billion during the quarter, compared to the consensus estimate of $7.28 billion. Manulife Financial had a net margin of 10.19% and a return on equity of 16.58%. The business's revenue for the quarter was up 7.3% compared to the same quarter last year. During the same period last year, the business posted $0.95 earnings per share. As a group, sell-side analysts predict that Manulife Financial will post 3.03 EPS for the current fiscal year.

Institutional Investors Weigh In On Manulife Financial

Several institutional investors have recently made changes to their positions in MFC. Basepoint Wealth LLC acquired a new position in Manulife Financial in the 4th quarter valued at $25,000. Hantz Financial Services Inc. acquired a new stake in shares of Manulife Financial during the 4th quarter worth $28,000. Canerector Inc. grew its holdings in shares of Manulife Financial by 27.0% during the 1st quarter. Canerector Inc. now owns 800,000 shares of the financial services provider's stock worth $28,000 after purchasing an additional 170,000 shares in the last quarter. Sfam LLC bought a new position in shares of Manulife Financial in the fourth quarter worth $28,000. Finally, Farmers & Merchants Trust Co of Chambersburg PA acquired a new position in Manulife Financial in the first quarter valued at about $29,000. 52.56% of the stock is currently owned by institutional investors.

Manulife Financial Company Profile

Manulife Financial Corporation is a multinational insurance and financial services company headquartered in Toronto, Ontario. Founded in the late 19th century as The Manufacturers Life Insurance Company, Manulife provides a broad range of financial products and services to individual and institutional clients. Its core businesses include life and health insurance, retirement and pension solutions, wealth and asset management, and group benefits.

In wealth and asset management, Manulife operates through Manulife Investment Management and offers mutual funds, segregated funds, institutional asset management, and retirement plan solutions.

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