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

Shutterstock photo
Shutterstock photo

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 $16.28 on the day. As of last close, MFC.PRK was trading at a 30.12% 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 off about 5.1% on the day, while the common shares (TSX: MFC.TO ) are up about 0.2%.

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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