Manulife announces Normal Course Issuer Bid

Core Viewpoint - Manulife Financial Corporation plans to initiate a Normal Course Issuer Bid (NCIB) to repurchase up to 51.5 million common shares, approximately 3% of its outstanding shares, to enhance shareholder value and manage capital effectively [1][3]. Group 1: NCIB Details - The NCIB allows Manulife to purchase up to 1,420,093 common shares daily on the TSX, which is 25% of the average daily trading volume of 5,680,374 shares over the past six months [2]. - The repurchase program is set to commence on February 24, 2025, and will continue until February 23, 2026, or until the maximum number of shares is repurchased [2]. - All shares acquired under the NCIB will be cancelled, and purchases will comply with Canadian and U.S. securities laws [4]. Group 2: Repurchase Flexibility - Manulife may also repurchase shares outside Canada and the U.S. and can acquire shares directly from other holders through private agreements, typically at a discount to market price [5]. - The company may engage in derivative-based programs to support its repurchase activities, including writing put options and entering into forward purchase agreements, subject to regulatory approval [5]. - Pre-defined plans with registered investment dealers may be established to facilitate repurchases during internal trading blackout periods [6]. Group 3: Previous NCIB Performance - In the previous NCIB (2024 NCIB), which started on February 23, 2024, Manulife repurchased 88,466,133 common shares at an average price of $39.11 per share, with the program set to expire on February 22, 2025 [7].