Markets

Cash Dividend On The Way From Manulife Financial Corp.'s Non-cumulative Rate Reset Class 1 Shares Series 13

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Shutterstock photo

Shutterstock photo

On 2/17/17, Manulife Financial Corp.'s Non-cumulative Rate Reset Class 1 Shares Series 13 (TSX: MFC-PRK.TO ) will trade ex-dividend, for its quarterly dividend of $0.2375, payable on 3/19/17. As a percentage of MFC.PRK's recent share price of $21.20, this dividend works out to approximately 1.12%, so look for shares of MFC.PRK to trade 1.12% lower - all else being equal - when MFC.PRK shares open for trading on 2/17/17. On an annualized basis, the current yield is approximately 4.49%.

As of last close, MFC.PRK was trading at a 15.28% 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 dividends prior to the most recent $0.2375 on Manulife Financial Corp.'s Non-cumulative Rate Reset Class 1 Shares Series 13:

MFC.PRK+Dividend+History+Chart

According to the ETF Finder at ETF Channel, Manulife Financial Corp. (TSX: MFC.TO ) makes up 1.52% of the QCAN: SPDR MSCI Canada StrategicFactors ETF, Smart Beta ETF ( QCAN ) which is trading relatively unchanged on the day Wednesday.

In Wednesday trading, Manulife Financial Corp.'s Non-cumulative Rate Reset Class 1 Shares Series 13 (TSX: MFC-PRK.TO ) is currently down about 0.2% on the day, while the common shares (TSX: MFC.TO ) are trading flat.

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


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

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