Manulife Financial Corp (MFC) to Issue Quarterly Dividend of C$0.48 on September 21st

Manulife Financial Corp (NYSE:MFC) (TSE:MFC) announced a quarterly dividend on Wednesday, August 5th. Shareholders of record on Friday, August 21st will be paid a dividend of 0.485 per share by the financial services provider on Monday, September 21st. This represents a c) dividend on an annualized basis and a yield of 4.4%. The ex-dividend date is Friday, August 21st.

Manulife Financial has raised its dividend by an average of 0.1%per year over the last three years and has raised its dividend every year for the last 12 years. Manulife Financial has a payout ratio of 43.4% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Manulife Financial to earn $3.26 per share next year, which means the company should continue to be able to cover its $1.38 annual dividend with an expected future payout ratio of 42.3%.

Manulife Financial Trading Down 0.4%

MFC opened at $44.06 on Wednesday. The stock has a market capitalization of $73.22 billion, a PE ratio of 16.44 and a beta of 0.84. Manulife Financial has a 1-year low of $29.70 and a 1-year high of $45.33. The firm has a 50-day moving average price of $42.30 and a two-hundred day moving average price of $38.81.

Manulife Financial (NYSE:MFC) (TSE:MFC) last announced its earnings results on Wednesday, August 5th. The financial services provider reported $0.79 earnings per share for the quarter, topping analysts’ consensus estimates of $0.78 by $0.01. Manulife Financial had a net margin of 9.99% and a return on equity of 16.68%. The company had revenue of $2.22 billion during the quarter, compared to the consensus estimate of $7.28 billion. During the same period in the previous year, the firm posted $0.95 earnings per share. The company’s revenue was up 7.3% on a year-over-year basis. On average, research analysts predict that Manulife Financial will post 3.03 EPS for the current year.

About Manulife Financial

Manulife Financial Corporation is a multinational insurance and financial services company headquartered in Toronto, Ontario. Founded in the late 19th century as The Manufacturers Life Insurance Company, Manulife provides a broad range of financial products and services to individual and institutional clients. Its core businesses include life and health insurance, retirement and pension solutions, wealth and asset management, and group benefits.

In wealth and asset management, Manulife operates through Manulife Investment Management and offers mutual funds, segregated funds, institutional asset management, and retirement plan solutions.