Manulife Financial (NYSE:MFC) Issues Earnings Results, Beats Expectations By $0.07 EPS

Manulife Financial (NYSE:MFC) (TSE:MFC) announced its quarterly earnings data on Wednesday. The financial services provider reported $0.74 EPS for the quarter, topping the consensus estimate of $0.67 by $0.07, Zacks reports. Manulife Financial had a net margin of 10.08% and a return on equity of 16.15%. The business had revenue of $9.31 billion for the quarter.

Manulife Financial Trading Up 6.9 %

Shares of NYSE MFC opened at $31.83 on Friday. The stock has a fifty day simple moving average of $30.33 and a two-hundred day simple moving average of $29.71. Manulife Financial has a 1-year low of $22.61 and a 1-year high of $33.07. The firm has a market cap of $54.84 billion, a price-to-earnings ratio of 15.37, a price-to-earnings-growth ratio of 1.04 and a beta of 1.09.

Manulife Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th will be issued a $0.3094 dividend. This represents a $1.24 dividend on an annualized basis and a dividend 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’s payout ratio is 59.42%.

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.