Manulife Financial (TSE:MFC) has released an update.
Manulife Financial Corporation has opted not to redeem its Series 15 Preferred Shares, allowing holders to convert these shares into Series 16 Preferred Shares on June 19, 2024. Shareholders who don’t convert will keep their Series 15 shares, with the caveat that automatic conversion could occur if certain conditions regarding minimum outstanding shares are met. Conversion rates and dividend rates for the new period starting June 20, 2024, will be announced on May 21, 2024.
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