Corporate ActionMay 4, 2026, 11:52 AM
Manulife announces Series 3 & 4 Preferred Share conversion privileges
AI Summary
Manulife Financial Corporation announced it will not redeem its Series 3 and Series 4 Class 1 Preferred Shares on June 19, 2026. As a result, holders of Series 3 Preferred Shares have the option to convert them into Series 4 Preferred Shares, and vice versa, on a one-for-one basis by June 19, 2026. The deadline for beneficial owners to instruct their brokers for conversion is June 4, 2026. New dividend rates for both series will be announced on May 21, 2026.
Key Highlights
- Manulife will not redeem its Series 3 and Series 4 Preferred Shares on June 19, 2026.
- Holders of 6,537,903 Series 3 Preferred Shares can convert to Series 4 Preferred Shares.
- Holders of 1,462,097 Series 4 Preferred Shares can convert to Series 3 Preferred Shares.
- The conversion option is on a one-for-one basis on June 19, 2026.
- Beneficial owners must instruct their brokers by 5:00 p.m. (Toronto time) on June 4, 2026.
- Automatic conversion will occur if less than 1,000,000 shares of a series remain outstanding.
- New dividend rates for both preferred share series will be announced on May 21, 2026.
Price Impact
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