Manulife announces intention to repurchase Class 1 Preferred Shares, Series 5
CA $ unless otherwise indicated TSX / NYSE / PSE: MFC SEHK: 945
TORONTO, November 4, 2021 / PRNewswire / – Manulife Financial Corporation (âManulifeâ) today announced its intention to repurchase all of its 8,000,000 Non-Cumulative Rate Reset Class 1 Shares Series 5 (âPreferred Shares Series 5 â) in circulation against December 19, 2021. The Series 5 Preferred Shares (TSX: MFC.PR.G) are redeemable at Manulife’s option on December 19, 2021, at a redemption price per Series 5 Preferred Share equal to CA $ 25.00 for a total of 200 million Canadian dollars. Formal notice will be delivered to holders of Series 5 Preferred Shares in accordance with the terms set out in the share provisions for Series 5 Preferred Shares.
Regardless of the repurchase price, the last quarterly dividend of CA $ 0.243188 per Preferred Share Series 5 will be paid in the usual manner on or after December 19, 2021 to shareholders of record on 1st December, 2021. After the redemption of the Series 5 Preferred Shares, the holders of the Series 5 Preferred Shares will cease to be entitled to dividend distributions and will not be entitled to exercise any rights as holders, other than the right to receive the redemption price.
Manulife Financial Corporation is a leading international provider of financial services that helps people make decisions easier and live better lives. With our global headquarters in Toronto, Canada, we provide financial advice and insurance, operating as Manulife through Canada, Asia, and Europe, and mainly like John hancock in United States. Through Manulife Investment Management, the global brand of our global wealth and asset management segment, we serve individuals, institutions and pension plan members around the world. By the end of 2020, we had over 37,000 employees, over 118,000 agents and thousands of distribution partners, serving over 30 million customers. From September 30, 2021, we have had $ 1.4 trillion Canadian (US $ 1.1 trillion) in assets under management and administration, and over the past 12 months we have made 31.6 billion Canadian dollars in payments to our customers.
Our main operations are in Asia and Canada, and United States, where we have served our customers for over 155 years. We trade under the name “MFC” on the Toronto, new York, and Philippine stock exchanges and under ‘945’ in Hong Kong. Not all offers are available in all jurisdictions. For more information, please visit manulife.com.
SOURCE Manulife Financial Corporation