Manulife Financial Corp. (MFC) Increases Dividend to $0.22 Per Share

Manulife Financial Corp. (TSE:MFC) (NYSE:MFC) announced a quarterly dividend on Wednesday, February 7th, RTT News reports. Investors of record on Wednesday, February 21st will be given a dividend of 0.22 per share by the financial services provider on Monday, March 19th. This represents a $0.88 annualized dividend and a yield of 3.52%. This is a positive change from Manulife Financial’s previous quarterly dividend of $0.21.

Shares of Manulife Financial (TSE:MFC) opened at C$24.97 on Thursday. Manulife Financial has a one year low of C$22.39 and a one year high of C$27.77. The company has a market capitalization of $49,680.00, a P/E ratio of 13.77 and a beta of 0.92.

Manulife Financial (TSE:MFC) (NYSE:MFC) last announced its quarterly earnings data on Wednesday, November 8th. The financial services provider reported C$0.53 EPS for the quarter, beating the Zacks’ consensus estimate of C$0.51 by C$0.02. Manulife Financial had a return on equity of 10.81% and a net margin of 10.53%. The firm had revenue of C$11.93 billion during the quarter.

A number of brokerages have commented on MFC. National Bank Financial raised their price objective on Manulife Financial from C$27.00 to C$29.00 and gave the company a “sector perform” rating in a research note on Thursday, November 9th. Barclays raised their price objective on Manulife Financial from C$29.00 to C$30.00 in a research note on Monday, November 13th. Desjardins raised their price objective on Manulife Financial from C$28.00 to C$30.00 in a research note on Monday, November 13th. Scotiabank raised their price objective on Manulife Financial from C$31.00 to C$32.00 and gave the company an “outperform” rating in a research note on Friday, November 10th. Finally, Royal Bank of Canada raised their price objective on Manulife Financial from C$28.00 to C$30.00 and gave the company an “outperform” rating in a research note on Friday, November 10th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of C$30.10.

In other news, insider Warren A. Thomson sold 11,300 shares of the firm’s stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of C$26.71, for a total value of C$301,823.00. Also, Director Rocco Gori bought 60,694 shares of the company’s stock in a transaction dated Friday, December 15th. The stock was bought at an average price of C$26.70 per share, for a total transaction of C$1,620,529.80.

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About Manulife Financial

Manulife Financial Corporation (MFC) is a holding company of The Manufacturers Life Insurance Company (MLI), which is a life insurance company, and John Hancock Reassurance Company Ltd. (JHRECO), which is a reinsurance company. The Company operates as a financial services company with principal operations in Asia, Canada and the United States.

Dividend History for Manulife Financial (TSE:MFC)

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