Manulife Financial Co. (MFC) to Issue Quarterly Dividend of $0.31 on March 19th

Manulife Financial Co. (NYSE:MFC) (TSE:MFC) announced a quarterly dividend on Thursday, February 20th, Wall Street Journal reports. Shareholders of record on Wednesday, March 5th will be given a dividend of 0.3094 per share by the financial services provider on Wednesday, March 19th. This represents a $1.24 annualized dividend and a yield of 3.97%. The ex-dividend date of this dividend is Wednesday, March 5th. This is a positive change from Manulife Financial’s previous quarterly dividend of $0.30.

Manulife Financial has raised its dividend by an average of 11.0% annually over the last three years and has increased its dividend every year for the last 12 years. Manulife Financial has a payout ratio of 38.2% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Manulife Financial to earn $3.15 per share next year, which means the company should continue to be able to cover its $1.22 annual dividend with an expected future payout ratio of 38.7%.

Manulife Financial Stock Performance

MFC opened at $31.15 on Monday. Manulife Financial has a one year low of $22.61 and a one year high of $33.07. The stock has a market capitalization of $53.67 billion, a PE ratio of 15.05, a P/E/G ratio of 1.11 and a beta of 1.09. The business’s 50 day moving average price is $30.35 and its 200 day moving average price is $30.02.

Manulife Financial (NYSE:MFC) (TSE:MFC) last posted its quarterly earnings data on Wednesday, February 19th. The financial services provider reported $0.74 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.07. Manulife Financial had a return on equity of 15.98% and a net margin of 10.08%. The business had revenue of $9.31 billion for the quarter. As a group, equities research analysts forecast that Manulife Financial will post 2.87 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

MFC has been the topic of a number of research reports. Royal Bank of Canada raised their price target on Manulife Financial from $49.00 to $51.00 and gave the stock an “outperform” rating in a report on Friday, February 21st. Scotiabank restated an “outperform” rating on shares of Manulife Financial in a research report on Monday, February 3rd. One analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $45.50.

About Manulife Financial

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.