Manulife Q2 Profit Down; Declares Quarterly Dividend

(RTTNews) - International financial services provider Manulife Financial Corp. (MFC) on Wednesday posted net income of C$1.09 billion or C$0.53 per share in the second quarter, down from C$2.64 billion or C$1.33 per share last year.

The company's core earnings also declined to C$1.56 billion or C$0.78 per share in the second quarter from C$1.68 billion or C$1.68 billion or C$0.83 per share in the same period a year ago.

Manulife's annualized premium equivalent or APE sales declined to C$1.40 billion in 2Q22 from C$1.42 billion in the prior-year period.

Additionally, the company's Board of Directors announced a quarterly shareholders' dividend of C$0.33 per share on the common shares of the company payable on and after September 19, to shareholders of record at the close of business on August 23.