Manulife Financial Corp (MFC) To Go Ex-Dividend on November 20th

Manulife Financial Corp (NYSE:MFC) (TSE:MFC) announced a quarterly dividend on Wednesday, November 4th. Stockholders of record on Friday, November 20th will be paid a dividend of C$0.48 per share by the financial services provider on Monday, December 21st. This represents a $1.94 annualized dividend and a dividend yield of 4.4%. The ex-dividend date is Friday, November 20th.

Manulife Financial has increased its dividend by an average of 0.1% per year over the last three years and has raised its dividend annually for the last 12 consecutive years. Manulife Financial has a payout ratio of 43.4% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Manulife Financial to earn $3.37 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 40.9%.

Manulife Financial Price Performance

NYSE MFC opened at $43.93 on Friday. Manulife Financial has a 1 year low of $32.58 and a 1 year high of $46.19. The stock has a market capitalization of $72.68 billion, a PE ratio of 14.15 and a beta of 0.86. The company’s 50 day simple moving average is $43.75 and its two-hundred day simple moving average is $40.12.

Manulife Financial (NYSE:MFC) (TSE:MFC) last posted its earnings results on Wednesday, November 4th. The financial services provider reported $0.89 EPS for the quarter, topping the consensus estimate of $0.83 by $0.06. The business had revenue of $8.78 billion during the quarter, compared to analysts’ expectations of $7.67 billion. Manulife Financial had a return on equity of 16.90% and a net margin of 10.28%. During the same period in the previous year, the business earned $1.16 earnings per share. On average, research analysts anticipate that Manulife Financial will post 2.97 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Livelsberger Financial Advisory bought a new stake in Manulife Financial during the third quarter worth approximately $26,000. Addison Advisors LLC bought a new position in shares of Manulife Financial during the second quarter valued at approximately $25,000. POM Investment Strategies LLC bought a new stake in Manulife Financial during the 2nd quarter valued at $26,000. Provenance Wealth Advisors LLC purchased a new position in Manulife Financial in the third quarter valued at about $27,000. Finally, First Bancorp Inc ME bought a new position in shares of Manulife Financial during the 2nd quarter worth approximately $26,000. Institutional investors own 52.56% of the company’s stock.

Manulife Financial Company Profile

Manulife Financial Corporation is a Canadian financial services company headquartered in Toronto, Ontario. Founded in 1887 as The Manufacturers Life Insurance Company, Manulife has grown into a diversified provider of insurance, wealth and asset management, and retirement solutions. Its common shares trade on the New York Stock Exchange under the symbol MFC.

Manulife offers life, health, and property and casualty insurance, along with retirement products, investment solutions, financial advice, and institutional asset management services.