C$ unless otherwise stated
TSX/NYSE/PSE: MFC SEHK: 945
TORONTO, Jan. 24, 2022 /PRNewswire/ - Manulife Financial
Corporation ("Manulife") today announced its intention to redeem
all of its outstanding 10,000,000 Non-cumulative Rate Reset Class 1
Shares Series 7 ("Series 7 Preferred Shares") for cash on
March 19, 2022. The Series 7
Preferred Shares (TSX: MFC.PR.H) are redeemable at Manulife's
option on March 19, 2022, at a
redemption price per Series 7 Preferred Share equal to C$25.00 for an aggregate total of C$250 million. Formal notice will be delivered to
holders of Series 7 Preferred Shares in accordance with the terms
outlined in the share provisions for the Series 7 Preferred
Shares.
Separately from the redemption price, the final quarterly
dividend of C$0.2695 per Series 7
Preferred Share will be paid in the usual manner on March 19, 2022 to shareholders of record on
February 23, 2022 or such other
record date determined by the board. After the Series 7
Preferred Shares are redeemed, holders of Series 7 Preferred Shares
will cease to be entitled to distributions of dividends and will
not be entitled to exercise any rights as holders other than to
receive the redemption price.
About Manulife
Manulife Financial Corporation is a
leading international financial services provider that helps people
make their decisions easier and lives better. With our global
headquarters in Toronto, Canada,
we provide financial advice and insurance, operating as Manulife
across Canada, Asia, and Europe, and primarily as John Hancock in the
United States. Through Manulife Investment Management, the
global brand for our global wealth and asset management segment, we
serve individuals, institutions and retirement plan members
worldwide. At the end of 2020, we had more than 37,000 employees,
over 118,000 agents, and thousands of distribution partners,
serving over 30 million customers. As of September 30, 2021, we had CAD$1.4 trillion (US$1.1
trillion) in assets under management and administration, and
in the previous 12 months we made CAD$31.6
billion in payments to our customers.
Our principal operations are in Asia and Canada, and the
United States, where we have served customers for more than
155 years. We trade as 'MFC' on the Toronto, New
York, and the Philippine stock exchanges and under '945' in
Hong Kong. Not all offerings are
available in all jurisdictions. For additional information, please
visit manulife.com
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SOURCE Manulife Financial Corporation