Manulife Financial Co. (MFC) Declares Quarterly Dividend of $0.18

Manulife Financial Co. (NYSE:MFC) (TSE:MFC) announced a quarterly dividend on Wednesday, February 7th, Zacks reports. Stockholders of record on Wednesday, February 21st will be paid a dividend of 0.175 per share by the financial services provider on Monday, March 19th. This represents a $0.70 annualized dividend and a dividend yield of 3.52%. The ex-dividend date of this dividend is Tuesday, February 20th. This is a positive change from Manulife Financial’s previous quarterly dividend of $0.16.

Manulife Financial has raised its dividend by an average of 6.9% per year over the last three years and has raised its dividend every year for the last 4 years. Manulife Financial has a payout ratio of 36.4% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Manulife Financial to earn $2.24 per share next year, which means the company should continue to be able to cover its $0.64 annual dividend with an expected future payout ratio of 28.6%.

Shares of Manulife Financial (MFC) opened at $19.90 on Thursday. Manulife Financial has a 12-month low of $16.62 and a 12-month high of $22.16. The firm has a market capitalization of $38,855.71, a PE ratio of 26.89, a PEG ratio of 1.00 and a beta of 1.28.

Several brokerages have recently weighed in on MFC. Zacks Investment Research raised Manulife Financial from a “hold” rating to a “buy” rating and set a $22.00 target price on the stock in a research report on Tuesday, February 6th. Scotiabank reissued a “buy” rating and set a $31.00 target price on shares of Manulife Financial in a research report on Wednesday, January 31st. Finally, National Bank Financial raised Manulife Financial from a “sector perform” rating to an “outperform” rating in a research report on Wednesday, January 24th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $26.67.

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Manulife Financial Company Profile

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 (NYSE:MFC)

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