MFC:CC - Manulife Financial: This Dividend Grower Still Has Upside

2024-06-26 11:57:48 ET

Summary

• The company, founded in 1887, has a strong presence in Asia and has been steadily increasing its earnings despite challenges in the past decade.
• Manulife Financial has seen a 45% increase in performance over the last year, driven by growth in Asia, higher interest rates, and a robust share buyback program.
• With projected 10-12% annual earnings growth, a low valuation, and a sustainable dividend yield of 4.5%, Manulife presents an attractive investment opportunity.

Manulife Financial ( MFC:CA )( MFC ) is a diverse financial services company that has delivered excellent performance over the last year, increasing 45% (plus dividends). It should continue to do well from a combination of growth in Asia, higher interest rates helping investment income, and a robust share buyback program.

(All figures in Canadian Dollars unless indicated otherwise)

Introduction

Manulife is one of Canada's largest and oldest life insurance companies. It can trace its history all the way back to 1887 when it was incorporated as the Manufacturer's Life Insurance Company....

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