Manulife Financial Corporation Stock Basis
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FOR IMMEDIATE RELEASE | TSX/NYSE/PSE: MFC; SEHK: 0945 |
April 28, 2004 |
Manulife Financial and John Hancock complete merger creating North
America’s second largest life insurance company
Manulife Financial Corporation (MFC) moved with up change of 1.58% at $16.1 during Friday trading period. This stock price move and price percentage is noteworthy to traders as it shows final value of stock and how much it changed in recent trading session. Manulife Financial in Focus Headquartered in Toronto, Manulife Financial ( MFC - Free Report ) is a Finance stock that has seen a price change of -25.89% so far this year. Now you can search stock related news and private companies such as Airbnb. Manulife Financial Corporation (MFC) NYSE - NYSE Delayed Price. The proposed merger will be executed on a. Explore commentary on Manulife Financial Corp. And hear what the experts at TheStreet are saying about MFC. Has closed its initial offering of units and will begin trading on the Toronto Stock.
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TORONTO – Manulife Financial Corporation and John Hancock Financial Services,Inc., including its Canadian subsidiary, The Maritime Life Assurance Company,today completed their merger after receiving all necessary regulatoryapprovals. John Hancock is now a subsidiary of Manulife Financial.
John Hancock stock will cease trading on the New York Stock Exchange at theclose of markets today, April 28, 2004. The approximately 675,000 John Hancockcommon shareholders are entitled to receive 1.1853 Manulife common shares foreach John Hancock common share. John Hancock shareholders overwhelminglyapproved the combination on February 24, 2004, with more than 95 per cent ofthe votes cast favouring the adoption of the merger agreement.
Customers’ benefits, premiums, values or guarantees of current policies orcontracts will not change as a result of the merger.
Windows server 2003 tutorial. “We are pleased to welcome John Hancock and Maritime Life customers,distribution partners and employees, as well as former John Hancockshareholders, to the Manulife family,” said Dominic D’Alessandro, President andChief Executive Officer. “The addition of these businesses and the resourcesthey bring will help us realize our vision to be the most professional lifeinsurance company in the world.”
A leading globalinsurance franchise
The completion of this merger – the largest cross-border transaction inCanadian history – makes Manulife the largest public company and largest lifeinsurance company in Canada, the second largest life insurer in North Americaand the fifth largest in the world based on market capitalization as at April27, 2004.
Dominic D’Alessandro is President and Chief Executive Officer of ManulifeFinancial Corporation, which has its global headquarters in Toronto, Canada.David D’Alessandro is Chief Operating Officer and future President of Manulife,and is heading up the integration process, reporting to Dominic D’Alessandro.He remains Chairman and Chief Executive Officer of John Hancock FinancialServices, Inc., based in Boston. David D’Alessandro will become President ofManulife at the first anniversary of the merger, at which time DominicD’Alessandro will remain CEO.
Manulife Financial Corporation Stock Basis Chart
Maritime Life, headquartered in Halifax, Canada, is being integrated intoManulife’s Canadian division, which together with John Hancock forms Manulife’sNorth American division that reports to David D’Alessandro.
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“Together, we are a leading international insurance franchise that offerscustomers multiple access points to a wide variety of financial and protectionproducts, shareholders greater growth and value, and our employeesopportunities for career development in a global enterprise,” said DavidD’Alessandro. “During the integration process we will leverage the best ofeach company to drive organic growth of our existing businesses.”
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About ManulifeFinancial
Manulife Financial is a leading Canadian-based financial services group servingmillions of customers in 19 countries and territories worldwide. Operating asManulife Financial in Canada and Asia, and primarily through John Hancock inthe United States, the Company offers clients a diverse range of financialprotection products and wealth management services through its extensivenetwork of employees, agents and distribution partners. Pro forma funds undermanagement by Manulife Financial and its subsidiaries were Cdn$355.9 billion(US$271.6 billion) as at March 31, 2004.
Manulife Financial Corporation trades as ‘MFC’ on the TSX, NYSE and PSE, andunder ‘0945’ on the SEHK. Manulife Financial can be found on the Internet atwww.manulife.com.
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Fact Sheet available on www.manulife.com
For more information, please contact:
Media Inquiries: Donna Lindell Tel: (416) 926-5226 donna_lindell@manulife.com or PeterFuchs Tel: (416) 926-6103 peter_fuchs@manulife.com | Investor Relations: Edwina Stoate Tel: 1-800-795-9767 or (416) 926-3490 investor_relations@manulife.com |
Forward-LookingStatements
This news release includes Forward-Looking statements with respect to theCompany, including its business operations and strategy as well as itsfinancial performance and condition. These statements generally can beidentified by the use of Forward-Looking words such as: “may,” “will,”“expect,” “intend,” “estimate,” “anticipate,” “believe,” or “continue” or thenegative thereof or similar variations. Although management believes that theexpectations reflected in such Forward-Looking statements are reasonable, suchstatements involve risks and uncertainties and actual results may differmaterially from those expressed or implied by such Forward-Looking statements.Important factors that could cause actual results to differ materially from theCompany’s expectations include among other things, general economic conditionsworldwide, market factors, including global capital market activity, interestrate and currency value fluctuations, business competition, changes ingovernment regulations or in tax laws, technological changes, changes inconsumer demand for the Company’s products and services, realizing increasedrevenue from the expansion and development of distribution channel capacity,our ability to complete strategic acquisitions and to integrate acquisitions,catastrophic events, political conditions and developments and internationalconflicts. Investors are directed to consider the risks and uncertainties inthe Company’s business that may affect future performance and that arediscussed in Manulife’s most recent Annual Report on Form 40-F and JohnHancock’s most recent Annual Report on Form 10-K, in each case, filed with theU.S. Securities and Exchange Commission. Investors are cautioned not to placeundue reliance on the Company’s forward-looking statements. The Company doesnot undertake to update any Forward-Looking statements.
TSX/NYSE/PSE : MFC SEHK: 945C$ unless otherwise statedTORONTO, Aug. 21, 2018 /PRNewswire/ - Manulife Financial Corporation ('Manulife') today announced the applicable dividend rates for its Non-cumulative Rate Reset Class 1 Shares Series 13 (the 'Series 13 Preferred Shares') (MFC.PR.K) and Non-cumulative Floating Rate Class 1 Shares Series 14 (the 'Series 14 Preferred Shares').With respect to any Series 13 Preferred Shares that remain outstanding after September 19, 2018, holders thereof will be entitled to receive fixed rate non-cumulative preferential cash dividends on a quarterly basis, as and when declared by the Board of Directors of Manulife and subject to the provisions of the Insurance Companies Act (Canada). The dividend rate for the five-year period commencing on September 20, 2018, and ending on September 19, 2023, will be 4.41400% per annum or $0.275875 per share per quarter, being equal to the sum of the five-year Government of Canada bond yield as at August 21, 2018, plus 2.22%, as determined in accordance with the terms of the Series 13 Preferred Shares.
With respect to any Series 14 Preferred Shares that may be issued on September 19, 2018 in connection with the conversion of the Series 13 Preferred Shares into the Series 14 Preferred Shares, holders thereof will be entitled to receive floating rate non-cumulative preferential cash dividends on a quarterly basis, calculated on the basis of actual number of days elapsed in each quarterly floating rate period divided by 365, as and when declared by the Board of Directors of Manulife and subject to the provisions of the Insurance Companies Act (Canada). The dividend rate for the three-month period commencing on September 20, 2018, and ending on December 19, 2018, will be 0.91773% (3.68100% on an annualized basis) or $0.229433 per share, being equal to the sum of the three-month Government of Canada Treasury bill yield as at August 21, 2018, plus 2.22%, as determined in accordance with the terms of the Series 14 Preferred Shares.
Beneficial owners of Series 13 Preferred Shares who wish to exercise their right of conversion should instruct their broker or other nominee to exercise such right before 5:00 p.m. (Toronto time) on September 4, 2018. The news release announcing such conversion right was issued on August 10, 2018 and can be viewed on SEDAR or Manulife's website. Conversion inquiries should be directed to Manulife's Registrar and Transfer Agent, AST Trust Company (Canada), at 1‘800-783-9495.
The Toronto Stock Exchange ('TSX') has conditionally approved the listing of the Series 14 Preferred Shares effective upon conversion. Listing of the Series 14 Preferred Shares is subject to Manulife fulfilling all the listing requirements of the TSX and, upon approval, the Series 14 Preferred Shares will be listed on the TSX under the trading symbol 'MFC.PR.S'.
The Series 13 Preferred Shares and the Series 14 Preferred Shares have not been and will not be registered in the United States under the United States Securities Act of 1933, as amended (the 'Securities Act'), or the securities laws of any state of the United States and may not be offered, sold or delivered, directly or indirectly in the United States or to, or for the account or benefit of, a 'U.S. person' (as defined in Regulation S under the Securities Act) absent registration or an applicable exemption from such registration requirements. This press release does not constitute an offer to sell or a solicitation to buy securities in the United States and any public offering of the securities in the United States must be made by means of a prospectus.
About ManulifeManulife Financial Corporation is a leading international financial services group that helps people make their decisions easier and lives better. We operate primarily as John Hancock in the United States and Manulife elsewhere. We provide financial advice, insurance, as well as wealth and asset management solutions for individuals, groups and institutions. At the end of 2017, we had about 35,000 employees, 73,000 agents, and thousands of distribution partners, serving more than 26 million customers. As of June 30, 2018, we had over $1.1 trillion (US$849 billion) in assets under management and administration, and in the previous 12 months we made $27.6 billion in payments to our customers. Our principal operations are in Asia, Canada and the United States where we have served customers for more than 100 years. With our global headquarters in Toronto, Canada, we trade as 'MFC' on the Toronto, New York, and the Philippine stock exchanges and under '945' in Hong Kong.
Manulife Financial Stock
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