C$ unless otherwise stated TSX/NYSE/PSE: MFC SEHK: 945 TORONTO, Aug. 7, 2024 /PRNewswire/ - Manulife's Board of Directors today announced quarterly shareholders' dividends on the following non-cumulative preferred shares of Manulife Financial Corporation, payable on or after September 19, 2024, to shareholders of record at the close of business on August 21, 2024: Class A Shares Series 2 - $0.29063 per share Class A Shares Series 3 - $0.28125 per share Class 1 Shares Series 3 - $0.14675 per share Class 1 Sh ...

C$ unless otherwise stated TSX/NYSE/PSE: MFC SEHK: 945 TORONTO, Aug. 7, 2024 /PRNewswire/ - Manulife's Board of Directors today announced a quarterly common shareholders' dividend of $0.40 per share on the common shares of Manulife, payable on and after September 19, 2024, to shareholders of record at the close of business on August 21, 2024. In respect of the Company's Canadian Dividend Reinvestment and Share Purchase Plan and its U.S. Dividend Reinvestment and Share Purchase Plan, the Company will purchas ...

Core Insights - Manulife Financial Corporation reported strong second quarter results for 2024, with core earnings of $1.7 billion, reflecting a 6% increase year-over-year on a constant exchange rate basis [2][14] - The company achieved a net income attributed to shareholders of $1.0 billion, consistent with the same period in 2023 [2][16] - Core earnings per share (EPS) rose to $0.91, a 9% increase from the previous year, while the overall EPS increased by 1% to $0.52 [2][14] Financial Performance - Core return on equity (ROE) was reported at 15.7%, indicating strong profitability despite the impact of Global Minimum Taxes (GMT) [3][15] - The Life Insurance Capital Adequacy Test (LICAT) ratio stood at 139%, demonstrating a robust capital position [3][15] - Annualized premium equivalent (APE) sales increased by 17%, with new business contractual service margin (CSM) up by 6% and new business value (NBV) rising by 23% compared to the second quarter of 2023 [2][17] Segment Performance - Asia's core earnings surged by 40%, driven by business growth and updates to actuarial methods [15][18] - In Canada, core earnings grew by 7%, supported by strong performance in Group Insurance [15][18] - The U.S. segment experienced an 11% decrease in core earnings due to adverse net insurance experience [15][18] Shareholder Returns - Manulife repurchased 31 million common shares, amounting to $1.1 billion, and plans to buy back a total of 90 million shares, representing a capital return exceeding $3 billion [2][3] - Adjusted book value per common share increased by 15% year-over-year, reaching $33.96 [3][14] Strategic Initiatives - The company completed the acquisition of CQS, enhancing its capabilities in Global Wealth and Asset Management (WAM) [7] - Manulife launched a Generative AI agent sales tool in Singapore to improve agent-customer interactions [8] - The company introduced a Robo-Advisor for its Mandatory Provident Fund in Hong Kong, aimed at providing automated portfolio insights [9]

While management's discussion of business conditions on the earnings call will mostly determine the sustainability of the immediate price change and future earnings expectations, it's worth having a handicapping insight into the odds of a positive EPS surprise. Revenues are expected to be $8.95 billion, down 0.5% from the year-ago quarter. Investors should keep in mind that the direction of estimate revisions by each of the covering analysts may not always get reflected in the aggregate change. The Zacks Ea ...

A live webcast and conference call are scheduled for Thursday, August 8, 2024, at 8:00 a.m. (ET) where members of Manulife's executive leadership team will discuss the results, followed by a question and answer period with analysts. About Manulife SOURCE Manulife Financial Corporation C$ unless otherwise stated TSX/NYSE/PSE: MFC SEHK: 945 The archived webcast will be available at manulife.com/en/investors/results-and-reports following the call. A replay of the call will also be available until September 7, ...

BOSTON, July 8, 2024 /PRNewswire/ - John Hancock, along with its Toronto-based parent company Manulife (NYSE: MFC), announced Hector Martinez joins the company today as its new Head of Insurance. Martinez joins John Hancock from Equitable where he led all aspects of the company's individual life insurance business, including new business development, underwriting, and life insurance product development and distribution. Before Equitable, Martinez served for over a decade in leadership positions at Crump Lif ...

Manulife is scaling up its business across Asia by expanding its distribution network, securing and deepening strategically important distribution agreements with key partners in Japan, Indonesia and Cambodia, and enhancing the mainland Chinese visitor (MCV) capabilities to complement the prominent domestic franchise in Hong Kong, among others. Manulife Asset Management has identified Europe (and the wider EMEA market) as a significant growth area and is making long-term investments in the region. In tandem ...

BOSTON, June 27, 2024 /PRNewswire/ - Manulife Investment Management (Manulife IM) has announced a strategic partnership with Foundry Commercial to acquire, develop, and lease industrial outdoor storage (IOS) sites in key infill industrial markets throughout the Southeast. The portfolio consists of 10 sites located in Atlanta, Nashville, Dallas-Fort Worth, and Jacksonville. Three of the sites have completed construction and were acquired by Manulife IM directly; the remaining will be developed in partnership ...

TORONTO, June 24, 2024 /PRNewswire/ - Manulife Financial Corporation ("Manulife" or the "Company") is hosting an Investor Day in Hong Kong and Jakarta, starting at 8:30 a.m. Hong Kong time on June 25 (8:30 p.m. June 24 eastern time). During this three-day event, senior management will showcase Manulife's record of successful execution of our strategy, highlight our transformation and speak to our right to win. Discussions will show how Manulife is uniquely positioned to achieve our financial targets and rei ...

Core Viewpoint - Manulife Financial Corporation plans to redeem all outstanding $750 million principal amount of 3.049% Fixed/Floating Subordinated Debentures on August 20, 2024, at par value, ceasing interest accrual on the redemption date [3]. Company Overview - Manulife Financial Corporation is a leading international financial services provider headquartered in Toronto, Canada, offering financial advice and insurance services under the Manulife brand in Canada, Asia, and Europe, and as John Hancock in the United States [4]. - As of the end of 2023, the company employed over 38,000 employees and more than 98,000 agents, serving over 35 million customers globally [4]. - Manulife trades as 'MFC' on the Toronto, New York, and Philippine stock exchanges, and under '945' in Hong Kong [4].