On Wednesday, February 11, 2026, the Board of Directors of Manulife Financial Corporation (TSE: MFC) announced a quarterly dividend increase from C$0.44 to C$0.485 per share. The dividend will be payable on March 19, 2026, to shareholders of record as of February 25, 2026. This represents a 10.23% increase over the prior quarterly dividend.
Current Dividend Yield and Income Impact
At today’s opening price of C$49.72, this increase raises Manulife Financial’s forward dividend yield to approximately 3.90%.
As an owner of 335 shares of Manulife Financial Corporation, this dividend increase adds approximately $33.10 to my projected annual net dividend income. Manulife continued its dividend growth trend from previous years, which was in line with my expectations, and I am very pleased with this increase.
Long-Term Dividend Growth Track Record
Manulife Financial is a member of the Canadian Dividend All-Star List with a 12-year streak of dividend increases. According to the Canadian Dividend All-Star data, its dividend growth rates are:
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1-year: 10.0%
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3-year: 10.1%
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5-year: 9.5%
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10-year: 10.2%
This recent dividend increase marks the fifth consecutive raise I’ve received since initiating my position in September 2020. Over that time, the quarterly dividend has grown from C$0.28 to C$0.485 per share—an increase of approximately 73.2%, representing strong income growth.
At the time of writing, MFC represents about 1.24% of my portfolio and contributes approximately 1.25% of my projected annual dividend income. Following this increase, my yield on cost stands at 9.10%.
Quick Valuation Take
Manulife appears reasonably valued at current levels. The company benefits from diversified operations across insurance and wealth management, along with solid earnings growth and improving efficiency.
Dividend Safety and Outlook
The dividend is well supported by strong earnings and a prudent payout ratio. Manulife has demonstrated a clear commitment to returning capital to shareholders, and its consistent double-digit dividend growth suggests a positive outlook for continued increases.
Final Thoughts
This was another strong dividend increase from Manulife and fully in line with my expectations. The company continues to be a key income contributor in my portfolio, offering an attractive combination of yield and growth.
Summary of 2026 Dividend Increases / Cuts
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You can follow the development of my dividends here
Full Disclosure: Long TSE:MFC
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