Manulife Financial Corp (NYSE:MFC) Announces Quarterly Dividend of C$0.44

Manulife Financial Corp (NYSE:MFC) (TSE:MFC) declared a quarterly dividend on Wednesday, November 12th. Investors of record on Wednesday, November 26th will be paid a dividend of 0.44 per share by the financial services provider on Friday, December 19th. This represents a c) annualized dividend and a dividend yield of 5.1%. The ex-dividend date of this dividend is Wednesday, November 26th. This is a 37.5% increase from Manulife Financial’s previous quarterly dividend of $0.32.

Manulife Financial has increased its dividend payment by an average of 0.1%annually over the last three years and has raised its dividend every year for the last 12 years. Manulife Financial has a dividend payout ratio of 39.9% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Manulife Financial to earn $3.15 per share next year, which means the company should continue to be able to cover its $1.27 annual dividend with an expected future payout ratio of 40.3%.

Manulife Financial Price Performance

NYSE:MFC opened at $34.36 on Thursday. Manulife Financial has a 1-year low of $25.92 and a 1-year high of $34.50. The firm’s 50-day moving average price is $31.97 and its 200-day moving average price is $31.40. The company has a market capitalization of $57.89 billion, a PE ratio of 15.34, a P/E/G ratio of 1.13 and a beta of 0.98.

About Manulife Financial

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.