Manulife Financial Corporation Buyback
OLI recorded this information on 2/1/2022
Manulife Financial Corporation
Share Amount Authorized:
Manulife Financial Corporation ("Manulife") announced today that it has received approval from the Toronto Stock Exchange ("TSX") for its previously announced normal course issuer bid ("NCIB") permitting the purchase for cancellation of up to 97 million of its common shares, representing approximately 5% of Manulife's issued and outstanding common shares. As atJanuary 31, 2022, Manulife had 1,942,706,408 common shares issued and outstanding. The Office of the Superintendent of Financial Institutions Canada previously approved the NCIB. Under the NCIB, Manulife may purchase up to 1,643,662 of its common shares on the TSX during any trading day, which represents 25% of the average daily trading volume of 6,574,651 common shares on the TSX for the six months endedDecember 31, 2021, subject to TSX rules permitting block purchases. Purchases under the NCIB may commence through the TSX onFebruary 3, 2022and continue untilFebruary 2, 2023, when the NCIB expires, or such earlier date as Manulife completes its purchases.
Manulife Financial is a holding company. Through its subsidiaries, Co. is a life insurance company. Co.'s four operating segments are: Asia, which includes a range of health, protection, savings, medical, term and whole life products; Canada, which provides life, health, disability and specialty products, such as mortgage creditor and travel insurance; U.S., which provides a range of life insurance products, insurance-based wealth accumulation products, and has an in-force long-term care insurance business and an in-force annuity business; and Global Wealth and Asset Management, which provides investment advice and solutions to retirement, retail and institutional clients.
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Hold (2.50 out of 4)