Stock will jump to $20 easily if it increases dividend in May
May be it is over due to increase the dividend considering the reserve can go lower now with the rising return in investment, and wealth management business. What your best guess of timing and has deeper knowledge of their investment portfolio?
I don't agree with the CEO given an 21% increase in pay. MFE stockholders should see an increase in divy, but don't count on it. Pay for performence should be given to ALL employees. They do well, then the company will do well, showing support to its stockholders with increase in divy.
The annual meeting is on May 2. I've received the proxy. There are 16 directors on the board. include Shelia Fraser, who was the Auditor General in Ontario/Canada. The CEO base salary is only 12% of the compensation and his interest seem to align with shareholders with time restricted shares and options for 64% and 24% on annual performance. He and the executives will want to pop up the stock price. Guloien became CEO in 2009. It's about time for him to pop up the shares to ripe the reward of his medium and long term incentives. I see the investment in Canadian bank will give me 9% return per year, yet MFC will allow me to double my return as interest and investment return rise . May be 1 year, 2 years and 3 years. The return will be 33% per year in the worst case scenario. I would gradually load it up before others jump on board for this strong global franchise.