Manulife Financial Corp. (MFC) Increases Dividend to $0.22 Per Share

Manulife Financial Corp. (TSE:MFC) (NYSE:MFC) announced a quarterly dividend on Wednesday, February 7th, RTT News reports. Shareholders of record on Wednesday, February 21st will be given a dividend of 0.22 per share by the financial services provider on Monday, March 19th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.54%. The ex-dividend date is Tuesday, February 20th. This is a boost from Manulife Financial’s previous quarterly dividend of $0.21.

Shares of Manulife Financial (TSE MFC) opened at C$24.87 on Thursday. Manulife Financial has a 52-week low of C$22.39 and a 52-week high of C$27.77. The company has a market cap of $49,290.00, a PE ratio of 25.38 and a beta of 0.92.

In other Manulife Financial news, Director Rocco Gori bought 60,694 shares of the company’s stock in a transaction that occurred on Friday, December 15th. The shares were acquired at an average cost of C$26.70 per share, for a total transaction of C$1,620,529.80. Also, insider Warren A. Thomson sold 11,300 shares of the business’s stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of C$26.71, for a total transaction of C$301,823.00.

MFC has been the topic of a number of recent analyst reports. National Bank Financial boosted their price target on shares of Manulife Financial from C$29.00 to C$30.00 and gave the stock a “sector perform” rating in a research report on Wednesday, December 27th. CSFB boosted their price target on shares of Manulife Financial from C$28.00 to C$31.00 in a research report on Wednesday, November 1st. TD Securities boosted their price target on shares of Manulife Financial from C$28.00 to C$30.00 and gave the stock a “hold” rating in a research report on Tuesday, January 9th. Royal Bank of Canada boosted their price target on shares of Manulife Financial from C$28.00 to C$30.00 and gave the stock an “outperform” rating in a research report on Friday, November 10th. Finally, BMO Capital Markets restated an “outperform” rating and set a C$31.00 price target on shares of Manulife Financial in a research report on Friday, November 10th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of C$30.25.

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About Manulife Financial

Manulife Financial Corporation (MFC) is a holding company of The Manufacturers Life Insurance Company (MLI), which is a life insurance company, and John Hancock Reassurance Company Ltd. (JHRECO), which is a reinsurance company. The Company operates as a financial services company with principal operations in Asia, Canada and the United States.

Dividend History for Manulife Financial (TSE:MFC)

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