Manulife Financial Corp (MFC) To Go Ex-Dividend on May 29th

Manulife Financial Corp (NYSE:MFC) (TSE:MFC) announced a quarterly dividend on Wednesday, May 13th. Investors of record on Friday, May 29th will be paid a dividend of 0.485 per share by the financial services provider on Friday, June 19th. This represents a c) dividend on an annualized basis and a dividend yield of 5.0%. The ex-dividend date of this dividend is Friday, May 29th.

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 44.7% meaning its dividend is sufficiently covered by earnings. Analysts expect Manulife Financial to earn $3.55 per share next year, which means the company should continue to be able to cover its $1.42 annual dividend with an expected future payout ratio of 40.0%.

Manulife Financial Trading Up 0.1%

Shares of MFC opened at $38.58 on Wednesday. The company has a market capitalization of $64.39 billion, a price-to-earnings ratio of 15.31 and a beta of 0.87. The stock has a 50 day moving average of $37.13 and a 200 day moving average of $36.33. Manulife Financial has a 12 month low of $29.70 and a 12 month high of $40.40.

Manulife Financial (NYSE:MFC) (TSE:MFC) last issued its quarterly earnings results on Wednesday, May 13th. The financial services provider reported $0.77 EPS for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.02). The business had revenue of $8.89 billion for the quarter, compared to analysts’ expectations of $2.32 billion. Manulife Financial had a net margin of 10.19% and a return on equity of 16.58%. During the same period in the previous year, the business posted $0.99 earnings per share. As a group, equities research analysts predict that Manulife Financial will post 3.2 earnings per share 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.