Manulife Financial Action Forum

$MFC (-0,78 %)
Dividend no increase but good results and strong share buybacks

Manulife's Board of Directors today announced a quarterly common stockholder dividend of $0.365 per share on the common stock of Manulife Financial Corporation (the "Company"), payable on December 19, 2023 , to shareholders of record at the close of business on November 22, 2023 .

"Our strong operating and new business results this quarter were driven by growth in Asia with a 33% increase in core net income and a 16% increase in new business.

16% increase in new business year-on-year. We also delivered solid results in global WAM, with sequential growth in core profits

growth in core profits, an improvement in the core EBITDA margin and positive net inflows of USD 5.8 billion over the last three quarters.

quarters. We are in a strong position to weather macroeconomic uncertainties.

We have continued to deploy capital through share buybacks to further enhance shareholder returns. Since the beginning of the year, we have repurchased nearly $1.3 billion

of our common stock repurchased."

key highlights for the third quarter of 2023 ("3Q23") include:

"We delivered core ROE of 16.8% in the third quarter and increased adjusted book value per share4 to $30.67, despite challenging

macroeconomic conditions. Overall, higher interest rates have been and will continue to benefit our underlying businesses and financial performance.

performance. We remain disciplined in our capital and cost management approach, reporting a higher LICAT ratio in the quarter and improving the cost efficiency ratio in

the cost efficiency ratio in 2023."

- Net income attributable to shareholders of $1.0 billion, $0.2 billion more than the transitional net income attributable to

shareholders1 in the third quarter of 2022 ("3Q22") and an increase of USD 0.5 billion compared to net income attributable to shareholders in 3Q

22

Colin Simpson, Chief Financial Officer of Manulife

Results at a glance

- Core net income of $1.7 billion, an increase of 28% on a constant currency basis compared to Q3 22

- Core EPS of $0.92, an increase of 35% compared to $0.68 in Q3 22, and EPS of $0.52 in Q3 23, an increase of 31% compared to transitional EPS

of USD 0.38 in Q3 22 and an increase of 104% compared to earnings per share of USD 0.23 in Q3 22

https://www.manulife.com/en/news/manulife-reports-3q23-net-income-and-core-earnings.html

Has anyone had any experience with Manulife Financial?

Current yield 5.85% with payout ratio of about 35-40% (continuously below 50% since 2018).

Has been paying dividends for 21 years and steadily increasing for 8 years.

Market Cap: $33 billion

P/E ratio of 5 in 2022

Revenue slump from $60 billion (2020) to $47 billion (2021).

Profit growth from USD 4.1 billion (2020) to USD 5.4 billion (2021)

This is truly not a price rocket, but could be interesting for one or the other dividend hunter.

Source: https://seekingalpha.com/symbol/MFC

𝗠𝗮𝗿𝗸𝗲𝘁 𝗡𝗲𝘄𝘀 🗞️

𝗚𝗲𝘁𝗾𝘂𝗶𝗻 𝟮.𝟬 𝗶𝘀 𝗼𝘂𝘁 / 𝗗𝗮𝘅 𝗶𝗺 𝗢𝗺𝗶𝗸𝗿𝗼𝗻-𝗦𝗼𝗴 / 𝗕𝗶𝗼𝗡𝗧𝗲𝗰𝗵 𝗹𝗶𝗲𝗳𝗲𝗿𝘁

𝗘𝘅-𝗗𝗮𝘁𝗲𝘀 📅

As of today, among others, The Coca-Cola Company ($KO (+1,1 %)), Ball Corporation ($BLL (+1,35 %)), eBay ($EBAY (+0,56 %)), Lockheed Martin ($LMT (+3,53 %)), Manulife Financial ($MFC (-0,78 %)), McDonald's ($MCD (+2,19 %)), McKesson ($MCK (+1,7 %)), Old Dominion Freight Line ($ODFL (+1,71 %)), Realty Income Corporation ($O (+2,65 %)), Schlumberger ($SLB (+0,56 %)) and Stanley Black & Decker ($SWK (-1,07 %)) traded ex-dividend.

𝗤𝘂𝗮𝗿𝘁𝗮𝗹𝘀𝘇𝗮𝗵𝗹𝗲𝗻 📈

Today, among others, Scotiabank ($BNS (+0,04 %)), Globalfoundries ($GFS (-2,07 %)), Salesforce.com ($CRM (+4,64 %)) and Zscaler ($ZS (-0,19 %)) presented their figures.

𝗠𝗮𝗿𝗸𝗲𝘁𝘀 🏛️

Dax ($GDAXI) - The Dax is again in the wake of Omikron and the 15,000 mark is in sight. There is no recovery in sight for the German stock market as the Omikron mutation continues to unsettle investors. Asian markets had already reacted to the warning from Moderna ($MRNA (-5,5 %)) chief, Stephane Bancel, and drove the stock markets into the red. According to Bancel, current vaccines are less effective against the new COVID-19 mutation.

BioNTech ($BNTX (+3,76 %)) - Mainz-based vaccine manufacturer BioNTech is bringing forward a shipment of 2.9 million vaccine doses to Germany in response to strong demand for vaccines. This means that a total of 5.8 million vaccine doses will be delivered to the federal government. With this delivery, BioNTech is responding to the skyrocketing demand for booster vaccines. In Germany, more than 20 million booster vaccinations are targeted by the end of the year. The share price of the pharmaceutical company rose in the meantime to 323.95 euros.

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