Manulife Financial Co. (NYSE:MFC) Announces 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 annualized dividend and a yield of 4.59%. The ex-dividend date of this dividend is Monday, August 19th. This is a boost from Manulife Financial’s previous quarterly dividend of $0.13.

Manulife Financial has raised its dividend payment by an average of 10.5% per year over the last three years and has raised its dividend every year for the last 5 years.

Shares of Manulife Financial stock opened at $16.46 on Friday. The stock has a 50 day moving average of $17.96 and a 200 day moving average of $17.47. Manulife Financial has a fifty-two week low of $13.33 and a fifty-two week high of $18.95. The firm has a market capitalization of $33.08 billion, a price-to-earnings ratio of 7.80, a PEG ratio of 0.76 and a beta of 1.38.

Manulife Financial (NYSE:MFC) (TSE:MFC) last announced its quarterly earnings data on Wednesday, August 7th. The financial services provider reported $0.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.01). The company had revenue of $16.60 billion during the quarter. Manulife Financial had a net margin of 9.36% and a return on equity of 13.27%. During the same quarter in the prior year, the firm posted $0.70 EPS. Equities research analysts predict that Manulife Financial will post 2.21 earnings per share for the current fiscal year.

Several brokerages have issued reports on MFC. Barclays reaffirmed a “buy” rating and set a $29.00 price objective on shares of Manulife Financial in a report on Sunday, May 5th. 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 report on Tuesday, July 23rd. Finally, ValuEngine lowered Manulife Financial from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target 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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Dividend History for Manulife Financial (NYSE:MFC)

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