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TORONTO, Feb. 20, 2018 /CNW/ - Manulife Financial Corporation
("Manulife") today announced the applicable dividend rates for its Non-cumulative Rate Reset Class 1 Shares Series 11 (the
"Series 11 Preferred Shares") (TSX: MFC.PR.J) and Non-cumulative Floating Rate Class 1 Shares Series 12 (the
"Series 12 Preferred Shares").
With respect to any Series 11 Preferred Shares that remain outstanding after March 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 March 20, 2018, and
ending on March 19, 2023, will be 4.73100% per annum or $0.295688 per share per quarter,
being equal to the sum of the five-year Government of Canada bond yield as at February 20,
2018, plus 2.61%, as determined in accordance with the terms of the Series 11 Preferred Shares.
With respect to any Series 11 Preferred Shares that may be issued on March 19, 2018 in connection with the
conversion of the Series 11 Preferred Shares into the Series 12 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 March 20, 2018, and ending on June 19, 2018, will be 0.96209% (3.81700% on an
annualized basis) or $0.240523 per share, being equal to the sum of the three-month Government of
Canada Treasury bill yield as at February 20, 2018, plus 2.61%, as determined in accordance with
the terms of the Series 12 Preferred Shares.
Beneficial owners of Series 11 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 March 5, 2018. The news release announcing such conversion right was issued on
February 12, 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 12 Preferred Shares effective
upon conversion. Listing of the Series 12 Preferred Shares is subject to Manulife fulfilling all the listing requirements of
the TSX and, upon approval, the Series 12 Preferred Shares will be listed on the TSX under the trading symbol
"MFC.PR.S".
The Series 11 Preferred Shares and the Series 12 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 Manulife
Manulife Financial Corporation is a leading international financial services group that helps people achieve their
dreams and aspirations by putting customers' needs first and providing the right advice and solutions. 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 approximately 34,000 employees, 73,000 agents, and thousands of distribution partners, serving more
than 26 million customers. As of December 31, 2017, we had over $1.04
trillion (US$829.4 billion) in assets under management and administration, and in the
previous 12 months we made $26.7 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.
SOURCE Manulife Financial Corporation
View original content: http://www.newswire.ca/en/releases/archive/February2018/20/c5530.html