Manulife Financial Corp (NYSE:MFC) Raises Dividend to $0.32 Per Share

Key Points

• Manulife Financial Corp has increased its quarterly dividend to $0.32 per share, marking a modest 0.2% increase from its previous dividend.
• The company's payout ratio stands at 40.3%, indicating that its dividend is well-covered by earnings, with expected earnings per share of $3.15 for the next year.
• Manulife's stock recently traded down to $30.11, with a market capitalization of $51.29 billion and a P/E ratio of 15.76.

Manulife Financial Corp (NYSE:MFC - Get Free Report) TSE: MFC declared a quarterly dividend on Thursday, August 7th, Wall Street Journal reports. Stockholders of record on Wednesday, August 20th will be given a dividend of 0.3199 per share by the financial services provider on Friday, September 19th. This represents a c) dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date is Wednesday, August 20th. This is a 0.2% increase from Manulife Financial's previous quarterly dividend of $0.32.

Manulife Financial has a payout ratio of 40.3% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Manulife Financial to earn $3.15 per share next year, which means the company should continue to be able to cover its $1.28 annual dividend with an expected future payout ratio of 40.6%.

Manulife Financial Stock Performance

Shares of NYSE:MFC traded down $1.15 during midday trading on Thursday, hitting $30.11. 3,410,174 shares of the stock were exchanged, compared to its average volume of 2,287,577. Manulife Financial has a 52-week low of $24.14 and a 52-week high of $33.07. The business's fifty day simple moving average is $31.27 and its two-hundred day simple moving average is $30.56. The company has a market capitalization of $51.29 billion, a PE ratio of 15.76, a P/E/G ratio of 1.04 and a beta of 1.01.

Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC last posted its quarterly earnings data on Wednesday, August 6th. The financial services provider reported $0.69 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.71 by ($0.02). Manulife Financial had a return on equity of 15.84% and a net margin of 9.58%. The firm had revenue of $11.30 billion for the quarter. During the same period in the prior year, the company posted $0.91 earnings per share. As a group, equities analysts anticipate that Manulife Financial will post 2.87 EPS for the current year.

Institutional Investors Weigh In On Manulife Financial

Several institutional investors and hedge funds have recently made changes to their positions in the company. Eastern Bank raised its stake in shares of Manulife Financial by 156.1% in the second quarter. Eastern Bank now owns 968 shares of the financial services provider's stock valued at $31,000 after acquiring an additional 590 shares during the last quarter. Lazard Asset Management LLC acquired a new position in Manulife Financial during the 4th quarter worth about $35,000. Transce3nd LLC bought a new stake in Manulife Financial during the 4th quarter worth about $42,000. William B. Walkup & Associates Inc. acquired a new stake in Manulife Financial in the 1st quarter valued at about $43,000. Finally, NBC Securities Inc. raised its stake in shares of Manulife Financial by 178,700.0% in the first quarter. NBC Securities Inc. now owns 1,788 shares of the financial services provider's stock worth $55,000 after acquiring an additional 1,787 shares during the last quarter. Institutional investors and hedge funds own 52.56% of the company's stock.

Manulife Financial Company Profile

Manulife Financial Corporation, together with its subsidiaries, provides financial products and services in the United States, Canada, Asia, and internationally. The company operates through Wealth and Asset Management Businesses; Insurance and Annuity Products; and Corporate and Other segments. The Wealth and Asset Management Businesses segment offers investment advice and solutions to retirement, retail, and institutional clients through multiple distribution channels, including agents and brokers affiliated with the company, independent securities brokerage firms and financial advisors pension plan consultants, and banks.

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