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TORONTO, May 21, 2021 /PRNewswire/ - Manulife
Financial Corporation ("Manulife") today announced the applicable
dividend rates for its Non-cumulative Rate Reset Class 1 Shares
Series 3 (the "Series 3 Preferred Shares") (TSX: MFC.PR.F) and
Non-cumulative Floating Rate Class 1 Shares Series 4 (the
"Series 4 Preferred Shares") (TSX: MFC.PR.P).
With respect to any Series 3 Preferred Shares that remain
outstanding after June 19, 2021, 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, 2021, and ending on
June 19, 2026, will be 2.34800% per annum or $0.146750_ per share per quarter, being equal to
the sum of the five-year Government of Canada bond yield as at May 21, 2021,
plus 1.41%, as determined in accordance with the terms of the
Series 3 Preferred Shares.
With respect to any Series 4 Preferred Shares that remain
outstanding after June 19, 2021, holders thereof will be
entitled to receive floating rate non-cumulative preferential cash
dividends on a quarterly basis, calculated on the basis of 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, 2021, and ending on September 19, 2021, will be
0.38363_% (1.52200% on an annualized basis) or $0.095908____ per share, being equal to the sum
of the three-month Government of Canada Treasury bill yield as at
May 21, 2021, plus 1.41%, as determined in accordance with the
terms of the Series 4 Preferred Shares.
Beneficial owners of Series 3 Preferred Shares and Series 4
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, 2021. The news
release announcing such conversion right was issued on
April 22, 2021 and can be viewed on SEDAR or Manulife's
website. Conversion inquiries should be directed to Manulife's
Registrar and Transfer Agent, AST Trust Company (Canada), at 1–800–783–9495.
The Series 3 Preferred Shares and the Series 4 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 that helps people make their decisions easier and
lives better. With our global headquarters in Toronto, Canada, we operate as Manulife across
our offices in Canada,
Asia, and Europe, and primarily as John Hancock in the
United States. We provide financial advice, insurance, and
our global wealth and asset management segment, Manulife Investment
Management, serves individuals, institutions and retirement plan
members worldwide. At the end of 2020, we had more than 37,000
employees, over 118,000 agents, and thousands of distribution
partners, serving over 30 million customers. As of March 31, 2021, we had CAD$1.3 trillion (US$1.0
trillion) in assets under management and administration, and
in the previous 12 months we made $31.3
billion in payments to our customers. Our principal
operations are in Asia,
Canada and the United States where we have served
customers for more than 155 years. We trade as 'MFC' on the
Toronto, New York, and the Philippine stock exchanges
and under '945' in Hong Kong.
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SOURCE Manulife Financial Corporation