One can say many things about Manulife, as a company and as an investment, but one cannot say that their dividend declaration policy is particularly investor-friendly.They have only just gotten around to declaring their current dividend. The table below shows the dividend information for MFC.PR.A:
| MFC.PR.A Dividend Record | |||
| Ex-Date | Record Date | Pay Date | Amount |
| 2003-08-13 | 2003-08-15 | 2003-09-19 | 0.256250 |
| 2003-11-13 | 2003-11-17 | 2003-12-19 | 0.256250 |
| 2004-02-13 | 2004-02-17 | 2004-03-19 | 0.256250 |
| 2004-05-13 | 2004-05-17 | 2004-06-21 | 0.256250 |
| 2004-08-12 | 2004-08-16 | 2004-09-20 | 0.256250 |
| 2004-11-12 | 2004-11-16 | 2004-12-20 | 0.256250 |
| 2005-02-18 | 2005-02-22 | 2005-03-19 | 0.256250 |
| 2005-05-18 | 2005-05-20 | 2005-06-19 | 0.256250 |
| 2005-08-12 | 2005-08-16 | 2005-09-19 | 0.256250 |
| 2005-11-10 | 2005-11-15 | 2005-12-19 | 0.256250 |
| 2006-02-17 | 2006-02-21 | 2006-03-19 | 0.256250 |
| 2006-05-12 | 2006-05-16 | 2006-06-19 | 0.256250 |
| 2006-08-14 | 2006-08-16 | 2006-09-19 | 0.256250 |
| 2006-11-10 | 2006-11-15 | 2006-12-19 | 0.256250 |
| 2007-02-22 | 2007-02-26 | 2007-03-19 | 0.256250 |
Look at the way the record dates bounce around, with the February ’07 record date being egregiously late! This is not the type of predictability that builds markets in preferred shares.
HIMIPref™ previously recorded an estimate for the Feb ’07 dividend specifications; this has now been changed to reflect the announcement.
Update: I have sent a link to this post to Manulife Shareholder Services.
[…] BAM Split Corp. has joined Manulife on this month’s lengthy list of irritations by not having declared their dividends as yet. […]