{"id":42696,"date":"2021-11-05T21:09:46","date_gmt":"2021-11-06T02:09:46","guid":{"rendered":"http:\/\/prefblog.com\/?p=42696"},"modified":"2021-11-05T21:09:46","modified_gmt":"2021-11-06T02:09:46","slug":"mfc-pr-g-to-be-redeemed","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=42696","title":{"rendered":"MFC.PR.G To Be Redeemed"},"content":{"rendered":"<p>Manulife Financial Corporation <a href=\"https:\/\/www.manulife.com\/en\/news\/manulife-announces-intention-to-redeem-class-1-series-5-preferred-shares-nov-2021.html\">has announced<\/a>:<\/p>\n<blockquote><p> its intention to redeem all of its outstanding 8,000,000 Non-cumulative Rate Reset Class 1 Shares Series 5 (&#8220;Series 5 Preferred Shares&#8221;) for cash on December 19, 2021. The Series 5 Preferred Shares (TSX: MFC.PR.G) are redeemable at Manulife&#8217;s option on December 19, 2021, at a redemption price per Series 5 Preferred Share equal to C$25.00 for an aggregate total of C$200 million. Formal notice will be delivered to holders of Series 5 Preferred Shares in accordance with the terms outlined in the share provisions for the Series 5 Preferred Shares.<\/p>\n<p>Separately from the redemption price, the final quarterly dividend of C$0.243188 per Series 5 Preferred Share will be paid in the usual manner on or after December 19, 2021 to shareholders of record on December 1, 2021. After the Series 5 Preferred Shares are redeemed, holders of Series 5 Preferred Shares will cease to be entitled to distributions of dividends and will not be entitled to exercise any rights as holders other than to receive the redemption price.<\/p><\/blockquote>\n<p>MFC.PR.G was issued as a 4.40%+290 FixedReset that <a href=\"http:\/\/prefblog.com\/?p=17220\">commenced trading 2011-12-6<\/a> after being <a href=\"http:\/\/www.prefblog.com\/?p=17151\">announced 2011-11-29<\/a>. It was reported on PrefBlog in 2016 that <a href=\"http:\/\/prefblog.com\/?p=33792\">MFC.PR.G would be extended<\/a>; that the <a href=\"http:\/\/prefblog.com\/?p=33949\">reset rate was 3.891%<\/a> and that <a href=\"http:\/\/prefblog.com\/?p=33987\">I recommended holders not convert<\/a>; there was <a href=\"http:\/\/prefblog.com\/?p=34033\">no conversion in 2016<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Manulife Financial Corporation has announced: its intention to redeem all of its outstanding 8,000,000 Non-cumulative Rate Reset Class 1 Shares Series 5 (&#8220;Series 5 Preferred Shares&#8221;) for cash on December 19, 2021. The Series 5 &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":["post-42696","post","type-post","status-publish","format-standard","hentry","category-issue-comments"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/42696","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=42696"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/42696\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=42696"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=42696"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=42696"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}