Manulife Financial Co. (NYSE:MFC) to Issue Dividend Increase – $0.31 Per Share

Manulife Financial Co. (NYSE:MFC) (TSE:MFC) declared a quarterly dividend on Thursday, February 20th, Wall Street Journal reports. Shareholders of record on Wednesday, March 5th will be given a dividend of 0.3094 per share by the financial services provider on Wednesday, March 19th. This represents a $1.24 dividend on an annualized basis and a yield of 3.89%. The ex-dividend date of this dividend is Wednesday, March 5th. This is a boost from Manulife Financial’s previous quarterly dividend of $0.30.

Manulife Financial has increased its dividend payment by an average of 11.0% per year over the last three years and has increased its dividend annually for the last 11 consecutive years. Manulife Financial has a dividend payout ratio of 35.6% meaning its dividend is sufficiently covered by earnings. Analysts expect Manulife Financial to earn $3.14 per share next year, which means the company should continue to be able to cover its $1.11 annual dividend with an expected future payout ratio of 35.4%.

Manulife Financial Stock Performance

Shares of NYSE MFC opened at $31.83 on Friday. The firm has a market cap of $54.84 billion, a P/E ratio of 15.37, a price-to-earnings-growth ratio of 1.04 and a beta of 1.09. Manulife Financial has a 1 year low of $22.61 and a 1 year high of $33.07. The firm’s 50 day moving average price is $30.33 and its 200 day moving average price is $29.71.

Manulife Financial (NYSE:MFC) (TSE:MFC) last posted its quarterly earnings data on Wednesday, February 19th. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.07. The business had revenue of $9.31 billion for the quarter. Manulife Financial had a return on equity of 16.15% and a net margin of 10.08%. As a group, equities analysts predict that Manulife Financial will post 2.88 EPS for the current year.

Manulife Financial Company Profile

Manulife Financial Corporation, together with its subsidiaries, provides financial products and services in the United States, Canada, Asia, and internationally. The company operates through Wealth and Asset Management Businesses; Insurance and Annuity Products; and Corporate and Other segments. The Wealth and Asset Management Businesses segment offers investment advice and solutions to retirement, retail, and institutional clients through multiple distribution channels, including agents and brokers affiliated with the company, independent securities brokerage firms and financial advisors pension plan consultants, and banks.