Manulife Financial Co. (MFC) to Issue Quarterly Dividend of $0.29 on June 19th

Manulife Financial Co. (NYSE:MFCGet Free Report) (TSE:MFC) declared a quarterly dividend on Wednesday, May 8th, Zacks reports. Stockholders of record on Wednesday, May 22nd will be paid a dividend of 0.29 per share by the financial services provider on Wednesday, June 19th. This represents a $1.16 annualized dividend and a dividend yield of 4.35%. The ex-dividend date is Tuesday, May 21st.

Manulife Financial has raised its dividend by an average of 9.2% annually over the last three years and has increased its dividend annually for the last 11 consecutive years. Manulife Financial has a dividend payout ratio of 40.3% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Manulife Financial to earn $2.96 per share next year, which means the company should continue to be able to cover its $1.18 annual dividend with an expected future payout ratio of 39.9%.

Manulife Financial Trading Up 1.1 %

NYSE MFC opened at $26.69 on Friday. Manulife Financial has a 1 year low of $17.07 and a 1 year high of $26.81. The firm has a market capitalization of $47.93 billion, a price-to-earnings ratio of 15.52, a P/E/G ratio of 0.98 and a beta of 1.08. The firm’s 50 day simple moving average is $24.26 and its 200 day simple moving average is $22.38.

Manulife Financial (NYSE:MFCGet Free Report) (TSE:MFC) last issued its earnings results on Wednesday, February 14th. The financial services provider reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.05. Manulife Financial had a return on equity of 16.27% and a net margin of 9.28%. The firm had revenue of $10.96 billion for the quarter, compared to the consensus estimate of $7.57 billion. On average, equities research analysts forecast that Manulife Financial will post 2.74 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Jefferies Financial Group assumed coverage on Manulife Financial in a research report on Thursday, February 22nd. They issued a “buy” rating on the stock. Desjardins raised shares of Manulife Financial from a “hold” rating to a “buy” rating in a report on Thursday, February 15th. National Bank Financial raised shares of Manulife Financial from a “sector perform” rating to an “outperform” rating in a research note on Thursday, May 9th. Finally, BMO Capital Markets raised shares of Manulife Financial from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $31.00 to $35.00 in a research note on Thursday, February 15th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Manulife Financial has an average rating of “Moderate Buy” and a consensus target price of $33.33.

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Manulife Financial Company Profile

(Get Free Report)

Manulife Financial Corporation, together with its subsidiaries, provides financial products and services in the United States, Canada, Asia, and internationally. The company operates through Wealth and Asset Management Businesses; Insurance and Annuity Products; and Corporate and Other segments. The Wealth and Asset Management Businesses segment offers investment advice and solutions to retirement, retail, and institutional clients through multiple distribution channels, including agents and brokers affiliated with the company, independent securities brokerage firms and financial advisors pension plan consultants, and banks.

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Dividend History for Manulife Financial (NYSE:MFC)

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