Manulife Financial launches NCIB for 42M shares, raises quarterly dividend 10.2%

Manulife rolls out broad share buyback framework to support capital strategy

Manulife Financial Corporation announces a planned Normal Course Issuer Bid (NCIB) to repurchase for cancellation up to 42 million common shares, roughly 2.5% of its issued stock, subject to Toronto Stock Exchange acceptance and following prior approval from the Office of the Superintendent of Financial Institutions (OSFI). The company states the program, which begins after TSX acceptance and may run for up to one year, forms part of its capital management strategy to maintain regulatory capital ratios while balancing the objective of returning value to shareholders.

The NCIB provides Manulife flexibility in execution across multiple venues and instruments. Purchases may be made on the Toronto Stock Exchange, the New York Stock Exchange and alternative trading systems in Canada and the United States at prevailing market prices or other permitted prices, and all repurchased shares are to be cancelled. Manulife also notes it may, subject to regulatory approvals, buy shares outside Canada and the United States, acquire shares by private agreement under issuer bid exemption orders, and use derivative‑based programs such as writing put options, forward purchase agreements or accelerated share purchase transactions.

Manulife imposes an overall cap so that total purchases under the NCIB and any related arrangements do not exceed 42 million common shares. The company emphasises compliance with Canadian and U.S. securities laws and signals use of pre‑defined trading plans with registered dealers to allow repurchases during periods when the issuer would otherwise be inactive. Manulife reports 1,676,743,043 common shares outstanding as of Jan. 31, 2026, providing context for the size of the bid relative to its capital base.

Dividend increase underscores ongoing commitment to shareholder returns

Separately, Manulife’s board approves a 10.2% increase to the quarterly common dividend, raising the payout by C$0.045 to C$0.485 per common share, payable on or after March 19, 2026 to holders of record on Feb. 25, 2026. The company says dividends under its Canadian and U.S. Dividend Reinvestment and Share Purchase Plans are satisfied through open‑market purchases at the average actual cost with no discount.

Preferred share dividends and business footprint

Manulife also declares quarterly dividends on a number of non‑cumulative preferred share series, with amounts specified for each series and payable on or after March 19, 2026. The Toronto‑based insurer, which operates as Manulife across Canada, Asia and Europe and as John Hancock in the U.S., highlights its global scale — more than 37,000 employees, over 109,000 agents and a customer base exceeding 36 million — as it pursues capital management and distribution objectives.