Corporate ActionMay 4, 2026, 09:17 AM
Manulife Preferred Share Conversion Option & Dividend Rate Update
AI Summary
Manulife Financial Corp is providing holders of its Series 3 and Series 4 Preferred Shares with the option to convert their shares on a one-for-one basis on June 19, 2026. The deadline for submitting conversion instructions is June 4, 2026. The company also announced that the new dividend rates for both series of preferred shares will be determined and announced on May 21, 2026. Conversions are subject to conditions where if less than 1,000,000 shares of a series remain, they will automatically convert to the other series.
Key Highlights
- Manulife offers Series 3 Preferred Share holders the option to convert to Series 4 on June 19, 2026.
- Series 4 Preferred Share holders can convert to Series 3 on June 19, 2026.
- Conversion instructions must be submitted by June 4, 2026, 5:00 p.m. (Toronto time).
- New dividend rates for Series 3 and Series 4 Preferred Shares will be announced on May 21, 2026.
- Automatic conversion occurs if less than 1,000,000 shares of either series remain outstanding.
- The Series 3 dividend rate will apply for a 5-year period starting June 20, 2026.
- The Series 4 dividend rate will apply for a 3-month period starting June 20, 2026.
Price Impact
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