Manulife Financial Corp 6-K, filed Jun 6, 2023
Manulife Financial Corp (MFC)
About this 6-K
Manulife Financial Corp filed this 6-K on June 6, 2023.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of June, 2023
Commission File Number: 1-14942
MANULIFE FINANCIAL CORPORATION
(Translation of registrant’s name into English)
200 Bloor Street East
North Tower 10
Toronto, Ontario, Canada M4W 1E5
(416) 926-3000
(Address of principal executive office)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F ☐ Form 40-F ☑
DOCUMENTS FILED AS PART OF THIS FORM 6-K
The following documents, filed as exhibits to this Form 6-K, are incorporated by reference as part of this Form 6-K:
| Exhibit |
Description of Exhibit | |
| 99.1 | News release dated June 6, 2023 announcing results of conversion privilege of non-cumulative rate reset class 1 shares series 25 | |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| MANULIFE FINANCIAL CORPORATION | ||
| By: | /s/ Scott MacIntosh | |
| Name: | Scott MacIntosh | |
| Title: | Assistant Corporate Secretary | |
Date: June 6, 2023
Exhibit 99.1
News Release
| C$ unless otherwise stated For Immediate Release June 6, 2023 |
TSX/NYSE/PSE: MFC SEHK: 945 |
Manulife Financial Corporation announces results of Conversion Privilege of Non-cumulative Rate Reset Class 1 Shares Series 25
TORONTO – Manulife Financial Corporation (“Manulife”) today announced that after having taken into account all election notices received by the June 5, 2023 deadline for conversion of its currently outstanding 10,000,000 Non-cumulative Rate Reset Class 1 Shares Series 25 (the “Series 25 Preferred Shares”) (TSX: MFC.PR.Q) into Non-cumulative Floating Rate Class 1 Shares Series 26 of Manulife (the “Series 26 Preferred Shares”), the holders of Series 25 Preferred Shares are not entitled to convert their Series 25 Preferred Shares into Series 26 Preferred Shares. There were 37,044 Series 25 Preferred Shares elected for conversion, which is less than the minimum one million shares required to give effect to conversions into Series 26 Preferred Shares.
As announced by Manulife on May 23, 2023, after June 19, 2023, holders of Series 25 Preferred Shares will be entitled to receive fixed rate non-cumulative preferential cash dividends on a quarterly basis, as and when declared by the Board of Directors of Manulife and subject to the provisions of the Insurance Companies Act (Canada). The dividend rate for the five-year period commencing on June 20, 2023, and ending on June 19, 2028, will be 5.94200% per annum or $0.371375 per share per quarter, being equal to the sum of the five-year Government of Canada bond yield as of May 23, 2023, plus 2.55%, as determined in accordance with the terms of the Series 25 Preferred Shares.
Subject to certain conditions described in the prospectus supplement dated February 12, 2018 relating to the issuance of the Series 25 Preferred Shares, Manulife may redeem the Series 25 Preferred Shares, in whole or in part, on June 19, 2028 and on June 19 every five years thereafter.
The Series 25 Preferred Shares have not been and will not be registered in the United States under the United States Securities Act of 1933, as amended (the “Securities Act”), or the securities laws of any state of the United States and may not be offered, sold or delivered, directly or indirectly in the United States or to, or for the account or benefit of, a “U.S. person” (as defined in Regulation S under the Securities Act) absent registration or an applicable exemption from such registration requirements. This press release does not constitute an offer to sell or a solicitation to buy securities in the United States and any public offering of the securities in the United States must be made by means of a prospectus.
About Manulife
Manulife Financial Corporation is a leading international financial services provider, helping people make their decisions easier and lives better. With our global headquarters in Toronto, Canada, we provide financial advice and insurance, operating as Manulife across Canada, Asia, and Europe, and primarily as John Hancock in the United States. Through Manulife Investment Management, the global brand for our Global Wealth and Asset Management segment, we serve individuals, institutions, and retirement plan members worldwide. At the end of 2022, we had more than 40,000 employees, over 116,000 agents, and thousands of distribution partners, serving over 34 million customers. We trade as ‘MFC’ on the Toronto, New York, and the Philippine stock exchanges and under ‘945’ in Hong Kong.
Not all offerings are available in all jurisdictions. For additional information, please visit manulife.com.
| Media Contact | Investor Relations | |
| Cheryl Holmes | Hung Ko | |
| Manulife | Manulife | |
| 416-557-0945 | 416-806-9921 | |
| cheryl_holmes@manulife.com | hung_ko@manulife.com |