Manulife Financial Corp (NYSE:MFC) Shares Set to Pay Quarterly Dividend of C$0.48

Manulife Financial Corp (NYSE:MFC) (TSE:MFC) announced a quarterly dividend on Wednesday, November 4th. Shareholders of record on Friday, November 20th will be paid a dividend of C$0.48 per share by the financial services provider on Monday, December 21st. This represents a $1.94 annualized dividend and a yield of 4.2%. The ex-dividend date is Friday, November 20th.

Manulife Financial has raised its dividend payment by an average of 0.1% annually over the last three years and has increased its dividend every year for the last 12 years. Manulife Financial has a dividend payout ratio of 43.4% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Manulife Financial to earn $3.37 per share next year, which means the company should continue to be able to cover its $1.38 annual dividend with an expected future payout ratio of 40.9%.

Manulife Financial Price Performance

Shares of MFC opened at $45.96 on Thursday. Manulife Financial has a 1 year low of $32.58 and a 1 year high of $46.04. The stock has a 50 day simple moving average of $43.74 and a two-hundred day simple moving average of $40.09. The firm has a market cap of $76.03 billion, a P/E ratio of 17.15 and a beta of 0.86.

Manulife Financial (NYSE:MFC) (TSE:MFC) last posted its quarterly earnings results on Wednesday, November 4th. The financial services provider reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.06. The business had revenue of $8.78 billion during the quarter, compared to the consensus estimate of $7.67 billion. Manulife Financial had a net margin of 9.99% and a return on equity of 16.68%. During the same period in the previous year, the firm posted $1.16 earnings per share. On average, equities analysts anticipate that Manulife Financial will post 2.97 earnings per share for the current year.

Manulife Financial Company Profile

Manulife Financial Corporation is a Canadian financial services company headquartered in Toronto, Ontario. Founded in 1887 as The Manufacturers Life Insurance Company, Manulife has grown into a diversified provider of insurance, wealth and asset management, and retirement solutions. Its common shares trade on the New York Stock Exchange under the symbol MFC.

Manulife offers life, health, and property and casualty insurance, along with retirement products, investment solutions, financial advice, and institutional asset management services.