Manulife Financial Corp. (TSE:MFC) Plans Quarterly Dividend of $0.22

Manulife Financial Corp. (TSE:MFC) (NYSE:MFC) declared a quarterly dividend on Wednesday, February 7th, RTT News reports. Investors of record on Wednesday, February 21st will be given a dividend of 0.22 per share by the financial services provider on Monday, March 19th. This represents a $0.88 annualized dividend and a dividend yield of 3.55%. The ex-dividend date is Tuesday, February 20th. This is a positive change from Manulife Financial’s previous quarterly dividend of $0.21.

Manulife Financial (MFC) opened at C$24.78 on Thursday. Manulife Financial has a 52-week low of C$22.39 and a 52-week high of C$27.60. The company has a market cap of $49,110.00, a P/E ratio of 25.29 and a beta of 0.92.

In other Manulife Financial news, Director Rocco Gori purchased 60,694 shares of the stock in a transaction that occurred on Friday, December 15th. The shares were bought at an average cost of C$26.70 per share, with a total value of C$1,620,529.80.

A number of brokerages recently commented on MFC. Scotiabank dropped their price target on Manulife Financial from C$31.00 to C$30.00 and set an “outperform” rating for the company in a research note on Friday, February 9th. TD Securities lowered their price objective on Manulife Financial from C$30.00 to C$28.00 and set a “hold” rating for the company in a research report on Thursday, February 8th. National Bank Financial upgraded Manulife Financial from a “sector perform” rating to an “outperform” rating and raised their price target for the company from C$30.00 to C$31.00 in a report on Wednesday, January 24th. Barclays raised their price target on Manulife Financial from C$30.00 to C$31.00 in a report on Thursday, January 11th. Finally, Desjardins lifted their price objective on Manulife Financial from C$28.00 to C$30.00 in a report on Monday, November 13th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of C$30.25.

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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 (TSE:MFC)

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