Sun Life Financial Inc 6-K, filed Jun 2, 2020
Sun Life Financial Inc (SLF)
About this 6-K
Sun Life Financial Inc filed this 6-K on June 2, 2020.
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 2020 | Commission File Number: 001-15014 |
SUN LIFE FINANCIAL INC.
(the "Company")
(Translation of registrant's name into English)
1 York Street, 31st Floor, Toronto, Ontario, M5J 0B6
(Address of principal executive offices)
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 ☒ |
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):____
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):____
SIGNATURE
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.
| Sun
Life Financial Inc. (Registrant) | ||||
| Date: June 1, 2020 | By: | /s/ “Tracie Allan” | ||
| Tracie Allan | ||||
Assistant Vice-President and Managing Counsel, Sun Life Financial | ||||
| Exhibits | Description | |
| 99.1 | Press Release dated June 1, 2020. | |
Exhibit 99.1
Sun Life Announces Dividend Rates on Class A Non-Cumulative Rate Reset Preferred Shares Series 8R and Class A Non-Cumulative Floating Rate Preferred Shares Series 9QR
TORONTO, June 1, 2020 /CNW/ - Sun Life Financial Inc. (TSX: SLF) (NYSE: SLF) today announced the applicable dividend rates for its Class A Non-Cumulative Rate Reset Preferred Shares Series 8R (the "Series 8R Shares") and Class A Non-Cumulative Floating Rate Preferred Shares Series 9QR (the "Series 9QR Shares").
With respect to any Series 8R Shares that remain outstanding after June 30, 2020, commencing as of such date, holders thereof will be entitled to receive non-cumulative preferential cash dividends on a quarterly basis, as and when declared by the Board of Directors of Sun Life and subject to the Insurance Companies Act (Canada). The dividend rate for the five-year period commencing on June 30, 2020 to but excluding June 30, 2025 will be 1.825% per annum or $0.114063 per share per quarter, being equal to the sum of the Government of Canada Yield, as defined in the terms of the Series 8R Shares, on Monday, June 1, 2020 plus 1.41%, as determined in accordance with the terms of the Series 8R Shares.
With respect to any Series 9QR Shares that remain outstanding after June 30, 2020, holders thereof will be entitled to receive floating rate non-cumulative preferential cash dividends on a quarterly basis, as and when declared by the Board of Directors of Sun Life and subject to the Insurance Companies Act (Canada), based on a dividend rate equal to the sum of the T-Bill Rate, as defined in the terms of the Series 9QR Shares, plus 1.41% (calculated on the basis of the actual number of days elapsed in such Quarterly Floating Rate Period divided by 365 days), subject to certain adjustments in accordance with the terms of the Series 9QR Shares. The dividend rate for the period commencing on June 30, 2020 to but excluding September 30, 2020 will be equal to 1.665% per annum or $0.104918 per share, as determined in accordance with the terms of the Series 9QR Shares.
Beneficial owners of Series 8R Shares and Series 9QR Shares who wish to exercise their right of conversion should communicate as soon as possible with their broker or other nominee and ensure that they follow their instructions in order to meet the deadline to exercise such right, which is 5:00 p.m. (ET) on Monday, June 15, 2020.
The Series 8R Shares and the Series 9QR Shares have not been and will not be registered under the United States Securities Act of 1933, as amended, and subject to certain exceptions, may not be offered, sold or delivered, directly or indirectly, in the United States of America for the account or benefit of U.S. persons. This release does not constitute an offer to sell or a solicitation to buy such securities in the United Sates.
About Sun Life
Sun Life is a leading international financial services organization providing insurance, wealth and asset management solutions
to individual and corporate Clients. Sun Life has operations in a number of markets worldwide, including Canada, the United States,
the United Kingdom, Ireland, Hong Kong, the Philippines, Japan, Indonesia, India, China, Australia, Singapore, Vietnam, Malaysia
and Bermuda. As of March 31, 2020, Sun Life had total assets under management of $1,023 billion. For more information, please visit
www.sunlife.com.
Sun Life Financial Inc. trades on the Toronto (TSX), New York (NYSE) and Philippine (PSE) stock exchanges under the ticker symbol SLF.
Note to editors: All figures in Canadian dollars
| Media Relations Contact: | Investor Relations Contact: |
| Irene Poon | Leigh Chalmers |
| Manager | Senior Vice-President, Head of Investor |
| Corporate Communications | Relations & Capital Management |
| T. 416-988-0542 | T. 647-256-8201 |
| irene.poon@sunlife.com | investor.relations@sunlife.com |
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%CIK: 0001097362
CO: Sun Life Financial Inc.
CNW 17:01e 01-JUN-20