Manulife to redeem all C$200 million series 5 preferred shares

By William Gullotti

Buffalo, N.Y., Nov. 4 – Manulife Financial Corp. plans to redeem all 8 million non-cumulative rate reset class 1 shares, series 5, for cash on Dec. 19, according to a press release on Thursday.

The shares will be redeemed at C$25.00 apiece for an aggregate total of C$200 million.

The company noted that the final quarterly dividend of C$0.243188 per share will be paid in the usual manner on or after Dec. 19.

Manulife is a financial services group based in Toronto.

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