Manulife announces Normal Course Issuer Bid
MWN-AI** Summary
On February 19, 2026, Manulife Financial Corporation announced it has received approval from the Toronto Stock Exchange (TSX) to proceed with a Normal Course Issuer Bid (NCIB) that will allow the company to purchase up to 42 million common shares for cancellation, which equates to about 2.5% of its total issued and outstanding shares. As of February 10, 2026, Manulife had roughly 1.68 billion shares outstanding.
The NCIB permits the company to buy up to 1,483,481 shares daily, representing 25% of the average daily trading volume over the previous six months. The share repurchases are set to commence on February 24, 2026, and will remain in effect until February 23, 2027, or until the maximal purchase limit is achieved. All shares acquired through this process will be cancelled, ultimately reducing the total outstanding shares.
This initiative is part of Manulife's broader capital management strategy, aimed at maintaining robust regulatory capital ratios while enhancing shareholder value. Manulife plans to utilize various platforms for these purchases, including the TSX, the New York Stock Exchange, and alternative Canadian and U.S. trading systems.
Additionally, the company has established an automatic share purchase plan that facilitates shares’ procurement during its typical trading blackouts, ensuring consistent adherence to TSX guidelines. Manulife may also engage in derivative-based strategies and private agreements for share purchases, subject to regulatory approval.
For those interested in Manulife’s operational details, the company, headquartered in Toronto, Canada, provides a range of financial services across 25 global markets, operating as Manulife in Canada and Asia, and as John Hancock in the U.S.
MWN-AI** Analysis
Manulife Financial Corporation's announcement of a Normal Course Issuer Bid (NCIB) to repurchase up to 42 million of its common shares provides a strategic insight into its operational and financial health. This NCIB represents approximately 2.5% of the company’s total outstanding shares, indicating a confident approach towards capital management. Such buybacks are typically a sign of a robust cash position and a positive outlook on the company’s growth prospects.
Investors should view this initiative positively as share repurchases can enhance earnings per share by reducing the share count, potentially leading to an increase in stock prices. Manulife's planned repurchase could signal to the market that the company believes its shares are undervalued at current price levels. Furthermore, this action aligns with their commitment to delivering shareholder value while ensuring compliance with capital regulations, as noted in their announcement.
The flexibility granted under the NCIB allows Manulife to buy shares at market prices, including during periods when they are not typically active due to trading restrictions. This strategic maneuver can afford the company a more opportunistic approach to repurchasing shares, especially during periods of volatility or price dips.
For investors, it is essential to monitor market conditions and Manulife’s ongoing financial performance as these factors will influence the extent and effectiveness of the buyback program. Additionally, assessing how well the company performs against its capital management objectives will provide insights into its long-term viability.
In conclusion, while the buyback shows promise in enhancing shareholder returns, investors should remain cautious and continue to evaluate broader market conditions and financial metrics before making investment decisions related to Manulife’s shares.
**MWN-AI Summary and Analysis is based on asking OpenAI to summarize and analyze this news release.
Canada NewsWire
C$ unless otherwise stated TSX/NYSE/PSE: MFC SEHK: 945
TORONTO, Feb. 19, 2026 /CNW/ - Manulife Financial Corporation ("Manulife") announced today that it has received approval from the Toronto Stock Exchange ("TSX") for its previously announced normal course issuer bid ("NCIB") permitting the purchase for cancellation of up to 42 million of its common shares, representing approximately 2.5% of Manulife's issued and outstanding common shares. As at February 10, 2026, Manulife had 1,676,751,543 common shares issued and outstanding. The Office of the Superintendent of Financial Institutions previously approved the NCIB.
Under the NCIB, Manulife may purchase up to 1,483,481 of its common shares on the TSX during any trading day, which represents 25% of the average daily trading volume of 5,933,925 common shares on the TSX for the six months ended January 31, 2026, subject to TSX rules permitting block purchases. Purchases under the NCIB may commence through the TSX on February 24, 2026 and continue until February 23, 2027, when the NCIB expires, or such earlier date as Manulife completes its purchases.
Having an NCIB in place will provide Manulife with the flexibility to purchase common shares as part of its capital management strategy which is designed to maintain healthy regulatory capital ratios while balancing the objective of generating shareholder value.
Purchases under the NCIB may be made through the facilities of the TSX, the New York Stock Exchange, and alternative trading systems in Canada and the United States at market prices prevailing at the time of purchase or such other price as may be permitted. All common shares acquired by Manulife under the NCIB will be cancelled. Purchases will be subject to compliance with applicable Canadian securities laws and United States federal securities laws.
In addition, Manulife may undertake purchases of its common shares outside of Canada and the United States in compliance with applicable laws. Subject to regulatory approval, Manulife may also acquire common shares directly from other holders by way of private agreement pursuant to issuer bid exemption orders issued by applicable securities regulatory authorities. Any private purchase made under an exemption order issued by a securities regulatory authority will generally be at a discount to the prevailing market price. Manulife may also enter into derivative-based programs in support of its purchase activities, including the writing of put options and forward purchase agreements, accelerated share purchase transactions, other equity contracts or use other methods of acquiring shares, in each case subject to regulatory approval and on such terms and at such times as shall be permitted by applicable securities laws. The total number of common shares purchased under the NCIB and all other potential arrangements will not exceed 42 million common shares.
Manulife has entered into an automatic share purchase plan under which its designated broker will purchase Manulife's common shares pursuant to the NCIB. The actual number of common shares purchased under the automatic plan, the timing of such purchases and the price at which common shares are purchased will depend upon future market conditions. The automatic plan, which was pre-cleared by the TSX, provides for the potential purchase of common shares at any time, including when Manulife ordinarily would not be active in the market due to its own internal trading blackout periods, insider trading rules, or otherwise.
Caution regarding forward-looking statements
This document contains forward-looking statements within the meaning of the "safe harbour" provisions of Canadian provincial securities laws and the U.S. Private Securities Litigation Reform Act of 1995 with respect to possible future purchases by Manulife of its common shares. Although we believe that the expectations reflected in such forward-looking statements are reasonable, such statements involve risks and uncertainties, and undue reliance should not be placed on such statements. Certain material factors or assumptions are applied in making forward-looking statements, and actual results may differ materially from those expressed or implied in such statements. Important factors that could cause actual common share purchases to differ materially from expectations include but are not limited to the fact that the amount and timing of any future common share purchases will depend on the earnings, cash requirements and financial condition of Manulife, market conditions, capital requirements (including under LICAT capital standards), common share issuance requirements, applicable law and regulations (including Canadian and U.S. securities laws and Canadian insurance company regulations), and other factors deemed relevant by Manulife, and may be subject to regulatory approval or conditions.
Additional information about material risk factors that could cause actual results to differ materially from expectations may be found in our most recent annual and interim reports and elsewhere in our filings with Canadian and U.S. securities regulators.
The forward-looking statements in this document are, unless otherwise indicated, stated as of the date hereof. We do not undertake to update any forward-looking statements, except as required by law.
About Manulife
Manulife Financial Corporation is a leading international financial services provider, headquartered in Toronto, Canada. Anchored in our ambition to be the number one choice for customers, we operate as Manulife across Canada and Asia, and primarily as John Hancock in the United States, providing financial advice, insurance and health solutions for individuals, groups and businesses. Through Manulife Wealth & Asset Management, we offer global investment solutions, financial advice, and retirement plan services to individuals, institutions, and retirement plan members worldwide. At the end of 2025, we had more than 37,000 employees, over 106,000 agents, and thousands of distribution partners, serving over 37 million customers with operations across 25 markets globally. We trade as 'MFC' on the Toronto, New York, and Philippine stock exchanges, and under '945' on the Hong Kong stock exchange. Not all offerings are available in all jurisdictions. For additional information, please visit manulife.com.
Media Relations:
Fiona McLean
Manulife
437-441-7491
fiona_mclean@manulife.com
Investor Relations:
Derek Theobalds
Manulife
416-254-1774
derek_theobalds@manulife.com
SOURCE Manulife Financial Corporation
FAQ**
How will Manulife Financial Corporation MFC utilize the shares repurchased through the normal course issuer bid (NCIB) to enhance shareholder value and manage its capital structure effectively?
What specific market conditions or performance indicators does Manulife Financial Corporation MFC anticipate will influence the timing and volume of its purchases under the NCIB?
In what ways could the approval of the NCIB by the TSX impact the stock performance and investor sentiment towards Manulife Financial Corporation MFC in the short to medium term?
What strategies does Manulife Financial Corporation MFC plan to implement in conjunction with the NCIB, such as derivative-based programs, to optimize its capital management and share acquisition process?
**MWN-AI FAQ is based on asking OpenAI questions about Manulife Financial Corporation (TSXC: MFC:CC).
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