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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Manulife Financial Corporation | NYSE:MFC | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
-0.08 | -0.27% | 29.13 | 29.39 | 29.095 | 29.13 | 1,687,733 | 01:00:00 |
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of May, 2024
Commission File Number: 1-14942
MANULIFE FINANCIAL CORPORATION
(Translation of registrants name into English)
200 Bloor Street East
North Tower 10
Toronto, Ontario, Canada M4W 1E5
(416) 926-3000
(Address of principal executive office)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F ☐ Form 40-F ☑
DOCUMENTS FILED AS PART OF THIS FORM 6-K
The following documents, filed as exhibits to this Form 6-K, are incorporated by reference as part of this Form 6-K:
Exhibit |
Description of Exhibit | |
99.1 | News release dated May 21, 2024 announcing Dividend Rates on Non-cumulative Rate Reset Class 1 Shares Series 15 and Non-cumulative Floating Rate Class 1 Shares Series 16 |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
MANULIFE FINANCIAL CORPORATION | ||
By: | /s/ Scott MacIntosh | |
Name: | Scott MacIntosh | |
Title: | Assistant Corporate Secretary |
Date: May 21, 2024
Exhibit 99.1
News
Release
C$ unless otherwise stated | TSX/NYSE/PSE: MFC SEHK: 945 |
For Immediate Release
May 21, 2024
Manulife Financial Corporation announces Dividend Rates on Non-cumulative Rate Reset Class 1 Shares Series 15 and Non-cumulative Floating Rate Class 1 Shares Series 16
TORONTO Manulife Financial Corporation (Manulife) today announced the applicable dividend rates for its Non-cumulative Rate Reset Class 1 Shares Series 15 (the Series 15 Preferred Shares) (TSX: MFC.PR.L) and Non-cumulative Floating Rate Class 1 Shares Series 16 (the Series 16 Preferred Shares).
With respect to any Series 15 Preferred Shares that remain outstanding after June 19, 2024, holders thereof will be entitled to receive fixed rate non-cumulative preferential cash dividends on a quarterly basis, as and when declared by the Board of Directors of Manulife and subject to the provisions of the Insurance Companies Act (Canada). The dividend rate for the five-year period commencing on June 20, 2024, and ending on June 19, 2029, will be 5.77500% per annum or $0.360938 per share per quarter, being equal to the sum of the five-year Government of Canada bond yield as at May 21, 2024, plus 2.16%, as determined in accordance with the terms of the Series 15 Preferred Shares.
With respect to any Series 16 Preferred Shares that may be issued in connection with the conversion of the Series 15 Preferred Shares into the Series 16 Preferred Shares, holders thereof will be entitled to receive floating rate non-cumulative preferential cash dividends on a quarterly basis, calculated on the basis of the actual number of days elapsed in each quarterly floating rate period divided by 365, as and when declared by the Board of Directors of Manulife and subject to the provisions of the Insurance Companies Act (Canada). The dividend rate for the three-month period commencing on June 20, 2024, and ending on September 19, 2024, will be 1.77245% (7.03200% on an annualized basis) or $0.443113 per share, being equal to the sum of the three-month Government of Canada Treasury bill yield as at May 21, 2024, plus 2.16%, as determined in accordance with the terms of the Series 16 Preferred Shares.
Beneficial owners of Series 15 Preferred Shares who wish to exercise their right of conversion should instruct their broker or other nominee to exercise such right before 5:00 p.m. (Toronto time) on June 4, 2024. Conversion inquiries should be directed to Manulifes Registrar and Transfer Agent, TSX Trust Company, at 1-800-783-9495.
The Toronto Stock Exchange (TSX) has conditionally approved the listing of the Series 16 Preferred Shares effective upon conversion. Listing of the Series 16 Preferred Shares is subject to Manulife fulfilling all the listing requirements of the TSX and, upon approval, the Series 16 Preferred Shares will be listed on the TSX under the trading symbol MFC.PR.S.
The Series 15 Preferred Shares and the Series 16 Preferred Shares have not been and will not be registered in the United States under the United States Securities Act of 1933, as amended (the Securities Act), or the securities laws of any state of the United States and may not be offered, sold or delivered, directly or indirectly in the United States or to, or for the account or benefit of, a U.S. person (as defined in Regulation S under the Securities Act) absent registration or an applicable exemption from such registration requirements. This press release does not constitute an offer to sell or a solicitation to buy securities in the United States and any public offering of the securities in the United States must be made by means of a prospectus.
About Manulife
Manulife Financial Corporation is a leading international financial services provider, helping people make their decisions easier and lives better. With our global headquarters in Toronto, Canada, we provide financial advice and insurance, operating as Manulife across Canada, Asia, and Europe, and primarily as John Hancock in the United States. Through Manulife Investment Management, the global brand for our Global Wealth and Asset Management segment, we serve individuals, institutions, and retirement plan members worldwide. At the end of 2023, we had more than 38,000 employees, over 98,000 agents, and thousands of distribution partners, serving over 35 million customers. We trade as MFC on the Toronto, New York, and the Philippine stock exchanges, and under 945 in Hong Kong.
Not all offerings are available in all jurisdictions. For additional information, please visit manulife.com.
Media Contact Cheryl Holmes Manulife 416-557-0945 cheryl_holmes@manulife.com |
Investor Relations Hung Ko Manulife 416-806-9921 hung_ko@manulife.com |
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