Manulife Financial's Preferred Series 13 Shares Cross 5.5% Yield Mark

Comment

Shutterstock photo

In trading on Thursday, shares of Manulife Financial Corp.'s Non-cumulative Rate Reset Class 1 Shares Series 13 (TSX: MFC-PRK.TO ) were yielding above the 5.5% mark based on its quarterly dividend (annualized to $0.95), with shares changing hands as low as $17.20 on the day. As of last close, MFC.PRK was trading at a 30.76% discount to its liquidation preference amount. It should be noted that the preferred shares are convertible . Investors should keep in mind that the shares are not cumulative , meaning that in the event of a missed payment, the company does not have to pay the balance of missed dividends to preferred shareholders before resuming a common dividend.

The chart below shows the one year performance of MFC.PRK shares, versus MFC:

Performance Comparison Chart

Below is a dividend history chart for MFC.PRK, showing historical dividend payments on Manulife Financial Corp.'s Non-cumulative Rate Reset Class 1 Shares Series 13:

MFC.PRK+Dividend+History+Chart

In Thursday trading, Manulife Financial Corp.'s Non-cumulative Rate Reset Class 1 Shares Series 13 (TSX: MFC-PRK.TO ) is currently down about 0.6% on the day, while the common shares (TSX: MFC.TO ) are up about 0.9%.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.



This article appears in: Investing , Investing Ideas


More from BNK Invest

Subscribe






BNK Invest
Contributor:

BNK Invest

Market News, Investing
Follow on:

Find a Credit Card

Select a credit card product by:
Select an offer:
Search
Data Provided by BankRate.com