Manulife Financial's Preferred Shares, Series 3 Crosses Above 5% Yield Territory

In trading on Tuesday, shares of Manulife Financial Corp's Non-cumulative Rate Reset Class A Shares, Series 3 (TSX: MFC-PRC.TO) were yielding above the 5% mark based on its quarterly dividend (annualized to $1.125), with shares changing hands as low as $22.42 on the day. As of last close, MFC.PRC was trading at a 9.72% discount to its liquidation preference amount. Investors should keep in mind that the shares are not cumulative, meaning that in the event of a missed payment, the company does not have to pay the balance of missed dividends to preferred shareholders before resuming a common dividend.

The chart below shows the one year performance of MFC.PRC shares, versus MFC:

Below is a dividend history chart for MFC.PRC, showing historical dividend payments on Manulife Financial Corp's Non-cumulative Rate Reset Class A Shares, Series 3: Free Report: Top 8%+ Dividends (paid monthly)

In Tuesday trading, Manulife Financial Corp's Non-cumulative Rate Reset Class A Shares, Series 3 (TSX: MFC-PRC.TO) is currently off about 0.7% on the day, while the common shares (TSX: MFC.TO) are off about 0.7%.

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