Manulife Financial Co. (MFC) to Issue Dividend Increase – $0.18 Per Share

Manulife Financial Co. (NYSE:MFC) (TSE:MFC) declared a quarterly dividend on Wednesday, February 7th, Zacks reports. Stockholders of record on Wednesday, February 21st will be given a dividend of 0.175 per share by the financial services provider on Monday, March 19th. This represents a $0.70 annualized dividend and a dividend yield of 3.48%. The ex-dividend date is Tuesday, February 20th. This is a boost from Manulife Financial’s previous quarterly dividend of $0.16.

Manulife Financial has raised its dividend by an average of 6.9% annually over the last three years and has raised its dividend annually for the last 4 consecutive years. Manulife Financial has a dividend payout ratio of 36.4% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Manulife Financial to earn $2.24 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 28.6%.

Manulife Financial (NYSE MFC) opened at $20.13 on Thursday. The stock has a market cap of $38,855.71, a P/E ratio of 26.89, a PEG ratio of 1.00 and a beta of 1.28. Manulife Financial has a 1-year low of $16.62 and a 1-year high of $22.16.

MFC has been the subject of several recent analyst reports. Zacks Investment Research cut shares of Manulife Financial from a “buy” rating to a “hold” rating in a report on Friday, November 3rd. National Bank Financial upgraded shares of Manulife Financial from a “sector perform” rating to an “outperform” rating in a report on Wednesday, January 24th. Finally, Scotiabank reiterated a “buy” rating and issued a $31.00 price objective on shares of Manulife Financial in a report on Wednesday, January 31st. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Manulife Financial has a consensus rating of “Buy” and an average target price of $26.67.

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About Manulife Financial

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 (NYSE:MFC)

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