Manulife Financial Corp.'s (MFC,MFC.TO) first-quarter net income attributed to shareholders advanced 22% to C$1.21 billion from C$985 million a year ago. The quarter's performance reflects strong markets, growth in insurance sales and strengthened underlying earnings compared to the fourth quarter of 2011, the company said.
Earnings per share, excluding convertible instruments, were C$0.66, higher than C$0.54 in the prior-year quarter, with quarterly earnings per share rising to C$0.62 from last year's C$0.53.
However, total revenue fell to C$3.82 billion from C$7.06 billion in the comparable period in 2011.
Additionally, the company announced the appointment of Steve Roder as incoming Senior Executive Vice President and Chief Financial Officer, who would report directly to Manulife President and Chief Executive Officer Donald A. Guloien. His appointment is expected to become effective in the beginning of June.
Further, Manulife Financial's board announced a quarterly shareholders' dividend of C$0.13 per share, payable on and after June 19, 2012 to shareholders of record at the close of business on May 15, 2012.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.