Manulife Increases Common Shareholders' Dividend From $0.3650 To $0.40 Per Share
Portfolio Pulse from Benzinga Newsdesk
Manulife has announced a 9.6% increase in its quarterly common shareholders' dividend, raising it from $0.3650 to $0.40 per share, effective March 19, 2024. This decision by the Board of Directors also involves purchasing common shares on the open market for its dividend reinvestment plans in Canada and the U.S., with the purchase price based on the average actual cost without discounts.
February 14, 2024 | 10:18 pm
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Manulife increases its quarterly dividend to $0.40/share and will buy back shares for its dividend reinvestment plans.
The increase in dividend is a positive signal to the market, indicating Manulife's strong financial health and commitment to returning value to shareholders. The decision to buy back shares for dividend reinvestment plans could also support the stock price by reducing the supply of shares on the open market. Both actions are likely to be viewed positively by investors, potentially leading to a short-term increase in the stock price.
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