Manulife Financial Corporation, a big insurance and financial services company from Canada that’s also listed on the Philippine Stock Exchange (PSE: MFC), has announced new dividend rates for two types of special shares. Think of dividends as rewards that companies give to people who own their shares – like an allowance for being a shareholder!

According to the announcement made on May 21, 2026, Manulife is updating the dividend payments for two types of preferred shares. Let’s break down what this means in simple terms.

What Are Preferred Shares?

Preferred shares are a special type of stock that works a bit differently from regular shares. They usually pay dividends on a regular schedule, kind of like getting a monthly allowance instead of birthday money once a year.

Series 3 Preferred Shares: Fixed Rate

For the Series 3 Preferred Shares (traded as MFC.PR.F on the Toronto Stock Exchange), Manulife will pay a fixed dividend rate of 4.64% per year for the next five years, starting June 20, 2026, and ending June 19, 2031.

This means shareholders will receive $0.29 per share every three months (quarterly). This rate was calculated by adding the five-year Government of Canada bond yield (which was measured on May 21, 2026) plus an extra 1.41%.

These dividends will only be paid when Manulife’s Board of Directors decides to declare them, and they’re called “non-cumulative,” which means if the company skips a payment, shareholders can’t collect it later.

Series 4 Preferred Shares: Floating Rate

For the Series 4 Preferred Shares (traded as MFC.PR.P), the dividend rate changes every three months based on current interest rates – that’s why it’s called a “floating rate.”

For the three-month period from June 20, 2026 to September 19, 2026, the rate will be 3.73% on an annual basis, or $0.235230 per share for that quarter. This was calculated using the three-month Government of Canada Treasury bill yield as of May 21, 2026, plus 1.41%.

Conversion Option Available

Shareholders who own either Series 3 or Series 4 shares have the option to convert their shares from one type to the other. If they want to do this, they need to tell their broker before 5:00 p.m. Toronto time on June 4, 2026.

About Manulife

Manulife Financial Corporation is a major international financial services company based in Toronto, Canada. The company operates in Canada and Asia under the Manulife name, and in the United States primarily as John Hancock. They provide insurance, financial advice, and investment solutions to customers.

As of the end of 2025, Manulife had more than 37,000 employees, over 106,000 agents, and served over 37 million customers across 25 markets worldwide.

The company’s stock is traded on multiple exchanges: the Toronto Stock Exchange, New York Stock Exchange, and the Philippine Stock Exchange under the symbol MFC, and on the Hong Kong Stock Exchange as 945.

Important note: These preferred shares are not registered in the United States and cannot be sold to U.S. persons without proper registration or exemption.

This article is based on the company’s official press release and disclosures filed with the Philippine Stock Exchange’s Electronic Disclosure Generation Technology (PSE EDGE) system. For the complete and official version of the announcement, readers may visit the PSE EDGE website and search for the company’s filing directly.