C$ unless otherwise
stated
TSX/NYSE/PSE: MFC SEHK: 945
TORONTO, April 22, 2021 /PRNewswire/ - Manulife Financial
Corporation ("Manulife") today announced its intention to redeem
all of its outstanding 17,000,000 Non-cumulative Rate Reset Class 1
Shares Series 21 ("Series 21 Preferred Shares") for cash on
June 19, 2021. The Series 21
Preferred Shares (TSX: MFC.PR.O) are redeemable at Manulife's
option on June 19, 2021, at a
redemption price per Series 21 Preferred Share equal to
C$25.00 for an aggregate total of
C$425 million. Formal notice will be
delivered to holders of Series 21 Preferred Shares in accordance
with the terms outlined in the share provisions for the Series 21
Preferred Shares.
Separately from the redemption price, the final quarterly
dividend of C$0.35 per Series 21
Preferred Share will be paid, subject to its declaration by the
board of directors of Manulife, in the usual manner on June 19, 2021 to shareholders of record on
May 18, 2021 or such other record
date determined by the board. After the Series 21 Preferred
Shares are redeemed, holders of Series 21 Preferred Shares will
cease to be entitled to distributions of dividends and will not be
entitled to exercise any rights as holders other than to receive
the redemption price.
About Manulife
Manulife Financial Corporation is a
leading international financial services group that helps people
make their decisions easier and lives better. With our global
headquarters in Toronto, Canada,
we operate as Manulife across our offices in Canada, Asia,
and Europe, and primarily as
John Hancock in the United States. We provide financial
advice, insurance, and wealth and asset management solutions for
individuals, groups and institutions. At the end of 2020, we had
more than 37,000 employees, over 118,000 agents, and thousands of
distribution partners, serving over 30 million customers. As of
December 31, 2020, we had
$1.3 trillion (US$1.0 trillion) in assets under management and
administration, and in the previous 12 months we made $31.6 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 155 years. We trade as 'MFC' on the
Toronto, New York, and the Philippine stock exchanges
and under '945' in Hong Kong.
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SOURCE Manulife Financial Corporation