Manulife Financial Corp (MFC) to Issue Quarterly Dividend of $0.16 on December 19th

Manulife Financial Corp (NYSE:MFC) (TSE:MFC) declared a quarterly dividend on Thursday, November 9th, Wall Street Journal reports. Shareholders of record on Tuesday, November 21st will be paid a dividend of 0.1606 per share by the financial services provider on Tuesday, December 19th. This represents a $0.64 dividend on an annualized basis and a yield of 3.05%. The ex-dividend date of this dividend is Monday, November 20th.

Manulife Financial Corp has raised its dividend by an average of 2.9% per year over the last three years and has raised its dividend annually for the last 3 consecutive years. Manulife Financial Corp has a payout ratio of 36.6% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Manulife Financial Corp to earn $1.95 per share next year, which means the company should continue to be able to cover its $0.64 annual dividend with an expected future payout ratio of 32.8%.

Shares of Manulife Financial Corp (NYSE MFC) opened at $21.10 on Friday. Manulife Financial Corp has a 1 year low of $16.62 and a 1 year high of $21.69. The firm has a market capitalization of $41,753.63, a price-to-earnings ratio of 12.20, a PEG ratio of 1.27 and a beta of 1.32.

A number of analysts recently commented on the company. Zacks Investment Research lowered Manulife Financial Corp from a “buy” rating to a “hold” rating in a report on Friday, November 3rd. Morgan Stanley boosted their target price on Manulife Financial Corp from $26.00 to $27.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 5th. Finally, ValuEngine lowered Manulife Financial Corp from a “strong-buy” rating to a “buy” rating in a research note on Monday, September 18th. Two research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Manulife Financial Corp has an average rating of “Buy” and an average target price of $25.00.

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Manulife Financial Corp Company Profile

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 Corp (NYSE:MFC)

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