FAQ: Answers to your Frequently Asked Questions (FAQ) including stock informantion, financial results, annual reports, owning shares and buying shares.

Where can I find Manulife stock information?
Click here to see the stock quote. You can also check daily stock exchange listings under MFC (or 945 in Hong Kong) in your local paper or through many financial websites.

What exchanges are MFC shares listed on?
Manulife Financial is listed on the Toronto Stock Exchange, the New York Stock Exchange and the Philippines Stock Exchange under the ticker symbol MFC and on the Stock Exchange of Hong Kong under symbol 945.

When are financial results released?
Manulife Financial’s business quarters are based on calendar quarters and the release dates for financial results are announced in our events calendar. These results are available on our website and are published in local papers.

When will I receive my tax reporting on share sales?
If you participated in a Manulife sponsored share sales program or sold your shares directly through one of our transfer agents, your tax reporting information is provided to you with the sale proceeds at the time of the sale. It is important that you keep this information for your records, as no separate tax reporting will be sent.

Can I buy MFC shares through the Company?
If you are a Canadian or U.S. resident, you may enroll in the Dividend Reinvestment and Direct Share Purchase plans which will allow you to buy shares directly. Click here to find out more about these plans. Canada United States

If you are not a member of these plans you may buy shares through any registered stockbroker. Please contact your broker for more information.


On May 4, 2006, Manulife Financial Corporation (“Manulife Financial”) announced that its Board of Directors has declared a stock dividend, which has the same effect as a two-for-one split of its common shares.

We have provided the following Q&A for shareholders’ information.

What is this stock split by way of stock dividend and how does it work?
Manulife’s board of directors declared a stock dividend payable on June 2, 2006 to holders of common shares of record at the close of business on May 25, 2006 by issuing one additional common share for each common share outstanding. This is a way of increasing the number of issued shares in a company without changing the overall market value of the company. In this case, a dividend is declared entitling shareholders to one additional common share per common share held on the record date. At the same time the listed price of the common shares is cut in half. The result is that you hold twice the number of common shares each having half the market value per share, representing the same total value as before.

A stock split by way of stock dividend has no impact on the total value of your holdings. So, if you had 100 common shares worth $74 each prior to the stock dividend, you will hold 200 common shares immediately after, worth $37 each. The total value remains the same.

Why is Manulife doing a stock split by way of stock dividend?
It is important for Manulife that our common shares continue to be as attractive and accessible to as wide a range of potential shareholders as possible. As share prices rise, the price of a “board lot” (100 shares - the most typical minimum volume purchased), becomes quite expensive. By doing a stock split by way of stock dividend, which effectively lowers the cost per share, Manulife’s common shares are affordable and attractive to retail investors.

How and when is the stock split being done?
By way of stock dividend. Manulife has declared a dividend payable on June 2, 2006 to holders of common shares of record at the close of business on May 25, 2006 by issuing one additional common share for each common share outstanding, which has the same effect as a 2 for 1 split of our common shares. That is, Manulife is declaring a dividend, payable in stock, equal to the current number of shares you hold, so that you end up with twice as many shares.

I noticed that the price on the TSX was changed on May 23rd. Why was that and what happens if I want to sell shares before June 2nd?
You will be able to buy or sell MFC shares at anytime. Effectively what happens in this transaction is that the number of shares is doubled but the share price is cut in half (on the TSX, SEHK and PSE) on the ‘ex-dividend” date (May 23rd in Canada). The stock price is actually split on the market on May 23rd to allow for any shares which are in the process of being bought or sold to settle by the record date (May 25th). Any shares which are on the record as of May 25th carry with them the entitlement to the stock dividend which is payable on June 2nd. (The value of your account remains the same). Here is how it works: (Values shown are for illustration purposes only)

Let's assume on May 22nd you owned 500 shares of MFC trading at Cdn $74.00 per share on the TSX.

For example:
You sell all 500 on May 22. You get the original price, they settle on the 25th and you therefore own no MFC shares on the dividend record date. The person who bought them did so for $74.00 per share but when his purchase settles they are worth $36.7 each with an outstanding stock dividend payable. On June 2nd he receives another 500 shares worth $37 each.

You sell all 500 on May 23, you receive the cut price ($37) and as they settle on May 26th, you owned them on the record date of May 25th, you get the stock dividend of 500 shares worth $37 each on June 2nd , which you can then sell if you wish.

You sell all of them on May 29th, you receive the new price of $37 per share and you then get the stock dividend on June 2nd which gives you an additional 500 shares also worth $37 each.

On the NYSE it works a little differently as the old price stays in effect and the shares are delivered with a ‘due bill’ until the payable date at which time the additional shares are credited to anyone who purchased between May 23 and June 2nd.

What documents will I receive as a shareholder?
UNITED STATES:
If you hold a Stock Certificate for your current shares, you will receive an updated statement reflecting both your certificated shares and your new shares, which will be held in electronic book entry form in the direct registration system (DRS).

If you currently hold your shares in the Direct Registration System (DRS), and have a DRS statement reflecting your share ownership, you will receive an updated DRS Ownership Statement for your new total number of shares.

CANADA, HONG KONG, PHILIPPINES AND REST OF WORLD
If you hold a Stock Certificate for your shares, you will receive a new Stock Certificate for the additional shares. These will begin to be mailed from Canada on June 2, 2006.

If you have an Ownership Statement for your shares, your book entry position will be updated to reflect the additional shares and you will receive an updated Ownership Statement showing the total number of shares in your account. These will begin to be mailed on June 2, 2006.

WORLDWIDE - SHARES HELD IN BROKERAGE ACCOUNTS
If your shares are registered in the name of an intermediary (for example, a bank, a trustee or a securities broker) or in the name of a depository of which the intermediary is a participant, your account will be updated by your broker who will send you notification of the transaction. .

I am also a policyholder of Manulife (John Hancock) Will this affect my policy?
No, the stock split by way of the stock dividend has no impact on your policy. Your MFC common shares are completely separate from your policy.

Does the stock dividend affect my taxes?
No income tax will be payable by Canadian resident shareholders and non-resident shareholders will not be subject to any Canadian withholdings tax as a result of the stock dividend. Generally, it is expected that there will be no tax consequences to shareholders arising from the stock dividend, but shareholders are advised to obtain local tax advice.

Does this replace cash dividends? Will I still get a cash dividend?
This special stock dividend has no effect on cash dividends. Cash dividends on common shares are paid as declared by the Board of Directors. Historically, Manulife has paid cash dividends quarterly.

When will the new share amount affect cash dividends?
The first quarter 2006 cash dividend will be paid on June 19th to holders of common shares on the record date of May 16th. The cash dividend will be based on your current (pre stock split) number of common shares. All cash dividends after that will be based on your new share balance.

CONTACT INFORMATION:
If you are Registered (Certificate holder) or an Ownership Statement holder and need any additional information on this stock dividend or your share account please contact our local transfer agents:

CANADA		CIBC Mellon 1-800-783-9495 or via e-mail to inquiries@cibcmellon.com
UNITED STATES		Mellon Investor Services at 1-800-249-7702 or via e-mail to shrrelations@mellon.com
HONG KONG		(Computershare HK Investor Services) Certificated Holders 852 2862 8555 Ownership Statement Holders 852 2862 8688
PHILIPPINES		HSBC (Philippines) (632) 683-2685
REST OF WORLD		Call Collect to CIBC Mellon in Canada at 416-643-6268