By Stephen Nakrosis
Manulife Financial boosted its quarterly payout to 44 Canadian cents ($0.30) per share.
The company said on Wednesday that the board of directors had approved the 4 cent per-share increase from 40 cents. The new dividend is equal C$1.76 on an annual basis.
Based on Wednesday's closing share price of C$42.32 on the Toronto Stock Exchange, the new dividend represents a yield of 4.2%. It will be payable on March 19 to shareholders of record at the close of business on March 5.
The company last raised its dividend in February 2024.
Munulife also announced a Normal Course Issuer Bid to permit repurchase of up to 3% of its outstanding common shares, which will begin later this month.
Write to Stephen Nakrosis at stephen.nakrosis@wsj.com
(END) Dow Jones Newswires
February 19, 2025 18:01 ET (23:01 GMT)
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