Friday, November 5th the Board of Manulife Financial Corporation (MFC) announced a CA$ 0.05 cents per share dividend that’s payable December 20, 2021 to shareholders of record at the close of business on December 1, 2021. Combined with its quarterly common dividend of $0.28 per share announced on November 3, 2021, this supplementary dividend results in a total quarterly common shareholders dividend of $0.33 per share or a 17.86% increase.
With current price CA$ 25.07 (yesterday's close), this raise brings their dividend yield to 5.27%.
Manulife is a member of Canadian Dividend All Star List with an 8 year streak of dividend increases. Dividend growth rates for 1, 3, 5 and 10 years are 12.0, 11.0, 11.0 and 8.0 (Canadian Dividend All-Star List)
Since I own 270 shares of MFC, this will increase my portfolio's projected annual net dividend income by $ 32.30.
This increase was a pleasant surprise, although it was also expected, as the last dividend increase was in February 2020 due to the pandemic and financial sector regulations.
This is the first dividend increase I received from MFC since initiating a position September 2020.
This increase raises my YOC to 6.40%.
Summary of 2021 Dividend Increases / Cuts
Click here to see my portfolio holdings.
You can follow the development of my dividends here.
Full Disclosure: Long MFC
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