Ex-Div Reminder for Manulife Financial's Class 1 Shares Series 9

On 2/24/14, Manulife Financial Corp.'s Non-cumulative Rate Reset Class 1 Shares Series 9 (TSX: MFC-PRI.TO) will trade ex-dividend, for its quarterly dividend of $0.275, payable on 3/19/14. As a percentage of MFC.PRI's recent share price of $25.96, this dividend works out to approximately 1.06%, so look for shares of MFC.PRI to trade 1.06% lower — all else being equal — when MFC.PRI shares open for trading on 2/24/14. On an annualized basis, the current yield is approximately 4.23%.

As of last close, MFC.PRI was trading at a 4.08% premium to its liquidation preference amount. It should be noted that the preferred shares are convertible, with a conversion ratio of The holders of Series 9 Preferred Shares will have the right, at their option, to convert their shares into Non-cumulative Floating Rate Class 1 Shares Series 10 of MFC, which we refer to as the Series 10 Preferred Shares, subject to certain conditions, on September 19, 2017 and on September 19 every five years thereafter. The holders of Series 10 Preferred Shares will be entitled to receive floating rate non-cumulative preferential cash dividends, as and when declared by the Board of Directors, payable quarterly on the 19th day of March, June, September and December in each year (we refer to the initial quarterly dividend period and each subsequent quarterly dividend period as a Quarterly Floating Rate Period), in a quarterly amount per share determined by multiplying the applicable Floating Quarterly Dividend Rate (as defined below) by $25.00. The Floating Quarterly Dividend Rate will be equal to the sum of the T-Bill Rate (as defined below) plus 2.86% (calculated on the basis of the actual number of days elapsed in the applicable Quarterly Floating Rate Period divided by 365) determined on the 30th day prior to the first day of the applicable Quarterly Floating Rate Period. See ?Details of the Offering?.. Investors should keep in mind that the shares are not cumulative, meaning that in the event of a missed payment, the company does not have to pay the balance of missed dividends to preferred shareholders before resuming a common dividend. The chart below shows the one year performance of MFC.PRI shares, versus MFC:

Performance Comparison Chart

Below is a dividend history chart for MFC.PRI, showing historical dividends prior to the most recent $0.275 on Manulife Financial Corp.'s Non-cumulative Rate Reset Class 1 Shares Series 9:

MFC.PRI+Dividend+History+Chart

According to the ETF Finder at ETF Channel, Manulife Financial Corp. (TSX: MFC.TO) makes up 1.12% of the SPDR S&P International Financial Sector ETF (IPF) which is trading relatively unchanged on the day Thursday.

In Thursday trading, Manulife Financial Corp.'s Non-cumulative Rate Reset Class 1 Shares Series 9 (TSX: MFC-PRI.TO) is currently off about 0.2% on the day, while the common shares (TSX: MFC.TO) are trading flat.

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