Corporate ActionJun 5, 2026, 12:17 PM
Manulife converts all Series 4 Preferred Shares to Series 3
AI Summary
Manulife Financial Corporation announced the results of its preferred share conversion privileges for Series 3 and Series 4 shares. Due to the number of elections, all remaining Series 4 Preferred Shares will be automatically converted into Series 3 Preferred Shares on June 19, 2026. As a result, Manulife will have 8,000,000 Series 3 Preferred Shares outstanding. The Series 3 shares will pay a fixed quarterly dividend of $0.290000 per share, equating to 4.64000% annually, for the next five-year period.
Key Highlights
- 17,750 Series 3 Preferred Shares elected for conversion to Series 4.
- 886,331 Series 4 Preferred Shares elected for conversion to Series 3.
- All remaining Series 4 Preferred Shares will be automatically converted to Series 3 on June 19, 2026.
- Manulife will have 8,000,000 Series 3 Preferred Shares issued and outstanding after conversion.
- Series 3 Preferred Shares will pay a fixed non-cumulative quarterly dividend of $0.290000 per share.
- The annual dividend rate for Series 3 Preferred Shares is 4.64000% for the period June 20, 2026, to June 19, 2031.
Price Impact
More from MFC