Manulife Financial Co. (NYSE:MFC) to Issue Dividend Increase – $0.19 Per Share
Manulife Financial Co. (NYSE:MFC) (TSE:MFC) declared a quarterly dividend on Wednesday, August 7th, NASDAQ reports. Investors of record on Tuesday, August 20th will be paid a dividend of 0.189 per share by the financial services provider on Thursday, September 19th. This represents a $0.76 dividend on an annualized basis and a yield of 4.52%. The ex-dividend date is Monday, August 19th. This is a boost from Manulife Financial’s previous quarterly dividend of $0.13.
Manulife Financial has raised its dividend by an average of 10.5% per year over the last three years and has increased its dividend annually for the last 5 consecutive years.
Shares of MFC opened at $16.74 on Friday. The business’s 50-day moving average price is $17.94 and its 200 day moving average price is $17.46. The stock has a market capitalization of $32.22 billion, a P/E ratio of 7.59, a P/E/G ratio of 0.74 and a beta of 1.38. Manulife Financial has a 1-year low of $13.33 and a 1-year high of $18.95.
A number of equities analysts recently weighed in on MFC shares. Zacks Investment Research raised Manulife Financial from a “hold” rating to a “buy” rating and set a $20.00 price target on the stock in a research note on Tuesday, July 23rd. ValuEngine cut Manulife Financial from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Finally, Barclays reissued a “buy” rating and issued a $29.00 price target on shares of Manulife Financial in a research note on Sunday, May 5th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $25.67.
Manulife Financial Company Profile
Manulife Financial Corporation, together with its subsidiaries, provides financial advice, insurance, and wealth and asset management solutions for individuals, groups, and institutions in Asia, Canada, and the United States. The company offers individual life, and individual and group long-term care insurance; and guaranteed and partially guaranteed annuity products through insurance agents, brokers, banks, financial planners, and direct marketing.
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