Friday, September 25, 2020

Recent Buy - Manulife Financial Corporation (MFC.TO)


Monday, September 21st, I bought 170 shares of Manulife Financial Corporation at CA$ 18.39 per share plus commission.


Manulife Financial Corporation, together with its subsidiaries, provides financial advice, insurance, and wealth and asset management solutions for individuals, groups, and institutions in Asia, Canada, the United States, and internationally. The company offers individual life, and individual and group long-term care insurance; and guaranteed and partially guaranteed annuity products through insurance agents, brokers, banks, financial planners, and direct marketing. It also provides mutual funds and exchange-traded funds, group retirement and savings products, and institutional asset management services through agents and brokers affiliated with the company, securities brokerage firms, financial advisors, pension plan consultants, and banks; and banking products, such as deposit and credit products to Canadian customers. In addition, the company is involved in property and casualty insurance and reinsurance businesses; and run-off reinsurance operations, including variable annuities, and accident and health. Further, it manages timberland and agricultural portfolios; and engages in insurance agency, portfolio and mutual fund management, mutual fund dealer, life and financial reinsurance, and mutual funds marketing businesses. Additionally, the company holds and manages oil and gas properties; holds oil and gas royalties, and foreign bonds and equities; and provides investment management, counseling, advisory, and dealer services. Manulife Financial Corporation was founded in 1887 and is headquartered in Toronto, Canada.


MFC is a member of Canadian Dividend All Star List with a 6 year streak of dividend increases. Dividend growth rates for 1, 3, 5 and 10 years are 9.9, 10.6, 11.9 and 2.5. (Canadian Dividend All-Star List)


Manulife now pays dividends of CA$ 0.28 per share normally in March, June, September and December.





Details of my purchase:




Some ratings for MFC:


    Yahoo: Mean Recommendation 2.1, 1y Target Est CA$ 23.54


    Reuters: Mean Rating 2.06


    Morningstar: (****)



At today's exchange rate, that purchase 170 shares of PNW will increase € 91.06 (CA$ 141.85) of my expected annual net dividend income and will increase my portfolio's projected annual net dividend income to € 15,400.00. With purchase price CA$ 18.39 plus commission (CA$ 31.30) my starting yield on cost is 6.03%. After this acquisition, MFC’s weight of my portfolio is about 0.40% and its share of future annual dividend income is approximately 0.59%.


Click here to see my portfolio.


Full Disclosure: Long MFC


Thanks for stopping by!


No comments:

Post a Comment