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

Manulife Financial Corp. (TSE:MFC) (NYSE:MFC) declared a quarterly dividend on Wednesday, February 7th, RTT News reports. Shareholders 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 dividend on an annualized basis and a yield of 3.53%. The ex-dividend date of this dividend is Tuesday, February 20th. This is a boost from Manulife Financial’s previous quarterly dividend of $0.21.

Manulife Financial (TSE MFC) opened at C$24.94 on Monday. The company has a market cap of $49,430.00, a price-to-earnings ratio of 25.45 and a beta of 0.92. Manulife Financial has a one year low of C$22.39 and a one year high of C$27.77.

A number of research analysts have commented on the stock. Royal Bank of Canada lifted their price objective on shares of 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. National Bank Financial lifted their price objective on shares of Manulife Financial from C$29.00 to C$30.00 and gave the company a “sector perform” rating in a research note on Wednesday, December 27th. BMO Capital Markets restated an “outperform” rating and issued a C$31.00 price objective on shares of Manulife Financial in a research note on Friday, November 10th. TD Securities lifted their price objective on shares of Manulife Financial from C$28.00 to C$30.00 and gave the company a “hold” rating in a research note on Tuesday, January 9th. Finally, Desjardins lifted their price objective on shares of Manulife Financial from C$28.00 to C$30.00 in a research note on Monday, November 13th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of C$30.25.

In other news, Director Rocco Gori purchased 60,694 shares of the company’s stock in a transaction dated Friday, December 15th. The shares were acquired at an average cost of C$26.70 per share, for a total transaction of C$1,620,529.80.

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Manulife Financial 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 (TSE:MFC)

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