Xin Lang Cai Jing·2026-02-20 00:17Core Viewpoint - Manulife Financial Corporation has received approval from the Toronto Stock Exchange to initiate a "Normal Course Issuer Bid" plan, allowing the company to repurchase and cancel up to 42 million common shares, representing approximately 2.5% of its issued and outstanding common shares [1]. Group 1 - The "Normal Course Issuer Bid" plan permits Manulife to repurchase up to 1,483,481 common shares on any trading day, which is 25% of the average daily trading volume of 5,933,925 shares over the past six months as of January 31, 2026 [1]. - The repurchase can commence on February 24, 2026, and will continue until February 23, 2027, or until the repurchase is completed earlier [1]. - This plan is part of Manulife's capital management strategy aimed at maintaining a robust regulatory capital ratio while also creating value for shareholders [1]. Group 2 - The repurchases can be executed through the Toronto Stock Exchange, New York Stock Exchange, and other designated trading systems in Canada and the U.S. at market prices or other approved prices [2]. - All repurchased common shares will be canceled, and the transactions must comply with applicable Canadian and U.S. securities laws [2]. - Manulife may also repurchase shares outside Canada and the U.S. and can engage in private agreements to buy shares at a discount to the market price, subject to regulatory approval [2]. Group 3 - Manulife has established an automatic share repurchase plan, allowing designated investment dealers to buy back shares according to the "Normal Course Issuer Bid" [3]. - The actual number of shares repurchased, along with the timing and price, will depend on future market conditions [3]. - This plan has received prior approval from the Toronto Stock Exchange and allows for repurchases even during periods when the company is typically restricted from trading [3].