On Wednesday, February 19th the Board of Directors of Manulife Financial Corporation (MFC) announced a quarterly dividend increase of from C$0.40 to C$0.44 per share that’s payable March 19, 2025 to holders of record March 5, 2025. This represents a 10.0% increase over the last quarterly dividend.
At the current price of C$44.57 (today's open), this increase will raise MFC's dividend yield to 3.95%.
Manulife is a member of Canadian Dividend All Star List with a 12 year streak of dividend increases. Dividend growth rates for 1, 3, 5 and 10 years are 9.6, 11.0, 9.9 and 10.9 (Canadian Dividend All-Star List)
As an owner of 335 shares of Manulife Financial Corporation, the recent dividend increase adds $28.04 to my projected annual net dividend income.
The increase was in line with my expectations and I am happy to accept it.
This recent dividend increase marks the fourth consecutive raise I’ve received from Manulife since I acquired my first shares in September 2020. Over this period, MFC’s quarterly dividend has grown very nicely from C$0.28 to C$0.44 per share, reflecting a 57.1% increase.
The moment of writing, MFC’s weight of my portfolio is about 1.30% and its share of future annual dividend income is approximately 1.25%.
Following this increase, my yield on cost is 8.26%.
Summary of 2025 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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