|Bid||17.71 x 0|
|Ask||17.72 x 0|
|Day's Range||17.48 - 18.22|
|52 Week Range||12.58 - 27.78|
|Beta (5Y Monthly)||1.16|
|PE Ratio (TTM)||7.60|
|Earnings Date||Aug 05, 2020|
|Forward Dividend & Yield||1.12 (6.48%)|
|Ex-Dividend Date||May 15, 2020|
|1y Target Est||23.20|
John Hancock Retirement today announced the launch of two digital tools, Onboarding Resource Center (ORC) and Plan Manager, to help financial professionals better serve clients in the current digital environment in light of COVID-19. Both tools are designed to increase efficiency using a digital, systematic approach to plan management that facilitates a setting where financial professionals can still provide diligent, personalized service while also growing their practice. These tools can be found on John Hancock Retirement's new Financial Professional Resources webpage, where advisors can find resources and support to help navigate the everchanging digital environment.
Manulife and John Hancock will be giving its more than 35,000 employees a "Thank You Day" off on Friday, June 19 this year in appreciation of all the hard work they've done serving customers and helping people make decisions easier and lives better. In addition, the Company will be providing five additional personal days next year to each employee to support wellbeing by encouraging regular time off, and provide the opportunity for employees to take vacations that are meaningful to them which they may not have been able to do in the current environment.
Manulife Financial Corporation ("MFC") announced today that it has entered into an agreement to privately place U.S.$200 million principal amount of 2.396% senior notes due June 1, 2027 (the "Notes").
John Hancock was honored with eleven Stevie® Awards in the 18th American Business Awards®, including five Gold, four Silver and two Bronze. The winners will be presented their awards on Wednesday, August 5 during a virtual ceremony. John Hancock awards include:
Manulife Financial Corporation Completes U.S. Public Offering of Senior Notes
Manulife (MFC) displays prudence by issuing senior notes amid a low interest rate environment to procure funds.
As part of its enhancements to the online and digital experience for participants, John Hancock Retirement has recently introduced a new digital tool for individuals in its retirement plans to help them easily project their own retirement readiness and model the impact of taking different steps to improve it.
Manulife Financial Corp <MFC.TO> would be "very happy" to increase its stake in its Chinese joint venture with Sinochem <600500.SS>, the chief financial officer of Canada's biggest life insurer said on Thursday. Manulife has a 51% interest in the venture, which it entered into with the Chinese state-owned company in 1996. While acquisitions are lower on Manulife's list of priorities, "if there's an opportunity to increase the extent of our ownership (in the Sinochem joint venture), we would be happy to do that," CFO Phil Witherington said at the online Barclays Americas Select Conference.
Manulife today released its 2019 Sustainability Report and Public Accountability Statement. The report highlights Manulife and John Hancock's environmental, social and governance performance in 2019.
Phil Witherington, Chief Financial Officer of Manulife, will speak at the Barclays Americas Select Franchise Conference on Thursday, May 14, 2020. The virtual fireside chat is scheduled to begin at 9:00 a.m. EST (2:00 p.m. BST).
TORONTO , May 12, 2020 /CNW/ - Manulife Financial Corporation ("MFC") has successfully completed its previously announced offering of $1 billion principal amount of fixed/floating subordinated debentures due May 12, 2030 and $1 billion principal amount of 2.818% fixed/floating subordinated debentures due May 13, 2035 (together, the "Debentures"). The debentures were offered through a syndicate of dealers co-led by RBC Capital Markets, Scotiabank Global Banking and Markets and TD Securities. The Debentures have not been and will not be registered in the United States under the United States Securities Act of 1933, as amended (the "Securities Act"), or the securities laws of any state of the United States and may not be offered, sold or delivered, directly or indirectly in the United States or to, or for the account or benefit of, a "U.S. person" (as defined in Regulation S under the Securities Act) absent registration or an applicable exemption from such registration requirements.
(Bloomberg) -- Argentina extended the deadline for bondholders to consider a $65 billion restructuring offer, buying time for more talks after the government failed to win enough support to reach a deal.The government is open to accepting offers that both allow the country to reach its debt sustainability goals and enhance creditor recoveries, according to a statement. Hours earlier, Argentina extended the deadline on its debt offer to May 22 from May 8 in a resolution published in the Official Gazette on Monday. Neither statement disclosed what percentage of investors accepted the original proposal.Argentina’s dollar bonds climbed the most in three weeks after the government announced the extension, although the securities still trade near record lows as creditors brace for steep losses.“While many of our bondholders supported Argentina’s invitation, other significant groups of creditors did not,” the Economy Ministry said in the statement.The new deadline aligns with the due date for $500 million of delayed interest payments. Failure to reach an agreement or pay the cash by that date would result in a default, Argentina’s ninth in 200 years. To close the deal, the South American nation needs the support from creditors owning at least two-thirds of some of the outstanding bonds. Bonds edged higher on optimism the country can still avoid a hard default.The government’s debt team plans to speak with individual bondholders and creditor groups over the course of the week through video conferences, according to a person with direct knowledge of the matter who asked not to be named because the discussions are private. The deadline extension was first reported by Bloomberg.In its statement, the country said it would consider in good faith any proposal that meets its debt guidelines, including combinations of interest rates, capital reduction, grace periods and extension of maturities different from those that have been proposed.The extension “will give the government time to revise its proposal on the basis of the feedback it has received,” said Richard Segal, a senior analyst at Manulife Investment Management in London, which has $409 billion of assets, including Argentine debt. “Investors recognize that Argentina can’t afford to pay much near- to medium-term.”The bonds trade at deeply distressed levels near 30 cents on the dollar. Argentina’s $4.5 billion in dollar notes due next year rose 2.2 cents to 33 cents on the dollar at market close in New York Monday.Before the original deadline on Friday, the country’s three largest creditor groups had already rejected the terms of the offer, which asked bondholders to take significant losses on interest and set a three-year grace period before any payments are made.Argentina had won the backing of the International Monetary Fund and academics including Joseph Stiglitz and Jeffrey Sachs, and insisted that even before the coronavirus pandemic began wrecking its economy, it was unable to pay what is owed.Read More: Argentina Awaits Creditor Counteroffers as Deadline Passes The South American country, which resolved its previous default just four years ago, lured billions of dollars of investment in 2016 after the inauguration of President Mauricio Macri, who had vowed to bring back economic growth. Instead, the country saw a sharp plunge in the value of its currency, accelerating inflation and a severe economic contraction. He was voted out of office last year, replaced by the left-wing Fernandez.The agriculture-driven economy is poised to contract for a third-consecutive year in 2020. Officials are battling a widening gap between Argentina’s official and unofficial exchange rates due to capital controls and annual inflation that’s still hovering above 48%.“The government insists publicly that it wants to avoid a default but the current crisis offers the perfect excuse for President Alberto Fernandez to play hardball with Argentina’s creditors,” analysts at consulting firm Teneo wrote in a note.The Province of Buenos Aires, which has followed the national government in submitting a proposal to rework $7 billion of its foreign debt, has given creditors until Monday to accept its initial offer. The province’s creditor group has panned the proposal, saying the deal represents a 60% loss to bondholders.(Updates with size and scope of bond move in third paragraph, bond price moves in ninth.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
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TORONTO , May 8, 2020 /CNW/ - Today, Manulife announced a $100,000 donation to support the health and well-being of communities impacted by the tragic events on April 18 and 19. $50,000 is being donated to the Canadian Red Cross Stronger Together Nova Scotia Fund to meet the immediate and longer-term needs of families and communities devastated by this event. Another $50,000 will support the Mental Health Foundation of Nova Scotia to provide access to programs during isolation measures related to COVID-19.
Manulife Financial Corporation ("MFC") announced today that it intends to issue $1 billion principal amount of 2.237% fixed/floating subordinated debentures due May 12, 2030 (the "2030 Debentures") and $1 billion principal amount of 2.818% fixed/floating subordinated debentures due May 13, 2035 (the "2035 Debentures" and together with the 2030 Debentures, the "Debentures"). MFC intends to file prospectus supplements to its existing base shelf prospectus in respect of these issues.
Manulife Financial Corporation (Manulife) announced today that the nominees listed in the management information circular dated March 11, 2020 were each elected as a director at the Annual Meeting held earlier today in Toronto. The detailed results of the vote for the election of directors are set out below.
Manulife Financial Corp <MFC.TO> reported a 34% drop in first-quarter core earnings on Wednesday, missing analyst expectations, on unfavorable market conditions and lower sales in Japan that weighed on earnings from Asia. While net income attributable to shareholders was helped by gains from widening credit spreads, that was offset by lower-than-expected investment returns, primarily because of the sharp declines in oil prices, the insurer said in a statement. Global insurers have faced a double whammy as market volatility and plunging yields have slammed investment returns, while the COVID-19 outbreak has boosted some payout expenses.
Manulife Financial Corporation ("Manulife") today announced that, due to the COVID-19 pandemic, it will postpone its planned June 23, 2020 Investor Day. The health and safety of our employees, customers, and communities around the world continues to be our top priority and with that in mind, we believe that this is the best course of action.
Manulife's Board of Directors today announced quarterly shareholders' dividends on the following non-cumulative preferred shares of Manulife Financial Corporation, payable on or after June 19, 2020 to shareholders of record at the close of business on May 19, 2020: