Manulife Financial Corp Declares Quarterly Dividend of C$0.48 (NYSE:MFC)

Manulife Financial Corp (NYSE:MFC – Get Free Report) (TSE:MFC) announced a quarterly dividend on Wednesday, August 5th. Investors of record on Friday, August 21st will be paid a dividend of 0.485 per share by the financial services provider on Monday, September 21st. This represents a c) dividend on an annualized basis and a yield of 4.4%. The ex-dividend date is Friday, August 21st.

Manulife Financial has raised its dividend by an average of 0.1%annually over the last three years and has raised its dividend annually for the last 12 consecutive years. Manulife Financial has a dividend payout ratio of 44.7% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Manulife Financial to earn $3.26 per share next year, which means the company should continue to be able to cover its $1.42 annual dividend with an expected future payout ratio of 43.6%.

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Manulife Financial Trading Up 0.2%

MFC opened at $44.54 on Thursday. Manulife Financial has a 12-month low of $29.70 and a 12-month high of $44.89. The firm has a 50 day moving average of $41.27 and a two-hundred day moving average of $38.37. The firm has a market capitalization of $74.01 billion, a PE ratio of 17.67 and a beta of 0.84.

Manulife Financial (NYSE:MFC – Get Free Report) (TSE:MFC) last released its quarterly earnings data on Wednesday, August 5th. The financial services provider reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.01. Manulife Financial had a return on equity of 16.58% and a net margin of 10.19%.The firm had revenue of $2.22 billion during the quarter, compared to analysts’ expectations of $7.28 billion. During the same quarter in the prior year, the business posted $0.95 earnings per share. Manulife Financial’s revenue was up 7.3% compared to the same quarter last year. As a group, analysts predict that Manulife Financial will post 3.03 EPS for the current fiscal year.

About Manulife Financial

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Manulife Financial Corporation is a multinational insurance and financial services company headquartered in Toronto, Ontario. Founded in the late 19th century as The Manufacturers Life Insurance Company, Manulife provides a broad range of financial products and services to individual and institutional clients. Its core businesses include life and health insurance, retirement and pension solutions, wealth and asset management, and group benefits.

In wealth and asset management, Manulife operates through Manulife Investment Management and offers mutual funds, segregated funds, institutional asset management, and retirement plan solutions.

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