Manulife Announces Conversion Results for Series 19 Preferred Shares

Manulife Financial ( (TSE:MFC) ) has provided an update.

On March 5, 2025, Manulife Financial Corporation announced the results of the conversion privilege for its Non-cumulative Rate Reset Class 1 Shares Series 19. The holders of these shares were not entitled to convert them into Series 20 Preferred Shares due to the insufficient number of shares elected for conversion, which fell short of the required one million. Consequently, the Series 19 Preferred Shares will continue to offer fixed-rate non-cumulative preferential cash dividends, with a rate set at 5.169% per annum for the next five years. This decision impacts the company’s financial operations by maintaining the existing dividend structure and potentially affecting investor expectations.

More about Manulife Financial

Manulife Financial Corporation is a leading international financial services provider headquartered in Toronto, Canada. The company operates as Manulife across Canada, Asia, and Europe, and as John Hancock in the United States, offering financial advice and insurance services to individuals, groups, and businesses. Manulife Wealth & Asset Management provides global investment, financial advice, and retirement plan services to a wide range of clients. By the end of 2024, Manulife had over 37,000 employees, more than 109,000 agents, and served over 36 million customers globally.

YTD Price Performance: -4.36%

Average Trading Volume: 2,319,109

Technical Sentiment Consensus Rating: Sell

Current Market Cap: $50.49B

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