Manulife Financial (TSE:MFC) has released an update.
Manulife Financial Corporation has announced that holders of its Series 15 Preferred Shares will have the option, but are not required, to convert their shares into Series 16 Preferred Shares on June 19, 2024. If there are fewer than 1,000,000 Series 15 or Series 16 Preferred Shares remaining after June 4, 2024, a mandatory conversion will apply based on the number of shares outstanding. The company will also determine and announce new dividend rates for both series of shares on May 21, 2024.
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