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(NEW - May 2012) Important Notice to All Non-Canadian Resident Shareholders
The Canada Revenue Agency (CRA) has recently changed how the tax withholding rate applied to dividend payments made to non-residents is determined.
CRA now requires that Manulife Financial Corporation ("MFC") obtain certification of residency from each shareholder so that the tax treaty rate can continue be to be applied to their MFC dividends. Previously, the tax withholding rate was determined solely by the address on the account - with preferred tax treaty rates being applied to persons resident in countries which have a tax treaty with Canada. Typically the tax treaty rate for non-Canadian residents is 15% (although other rates can apply in certain circumstances). The non-tax treaty withholding rate is 25%.
Letters of explanation along with Form NR301 - Declaration of Eligibility for Benefits Under a Tax Treaty For A Non-Resident Taxpayer are being sent to all non-resident MFC shareholders by our local stock transfer agents who are responsible for maintaining this information on the share account records.
It is important that you complete and return the form as soon as possible so that your MFC share dividends can continue to receive the preferred tax treaty withholding rate. If we do not receive a completed NR301 form, we will be required under Canadian law to withhold at the maximum rate of 25% on any MFC dividend payments due to you. You should also be aware that we are now required to re-certify non-resident status every third year.
If you have any questions please contact the local stock transfer agent as indicated in the letter you receive. You may also e-mail MFC directly at email@example.com. If you do contact us directly remember to provide your country of residence so that we may send your inquiry to the appropriate stock transfer agent.
Manulife Dividend Reinvestment (DRIP) and Share Purchase Plans
Manulife offers Dividend Reinvestment and Share Purchase Plans to Canadian and
By enrolling in the Canadian or US Plan (as applicable) you will be able to:
For a copy of the Canadian Plan offering circular, including a complete description of the Canadian Plan, its terms and features, click here. To enroll or request a printed copy of the offering circular, please contact the Canadian Plan administrator (CIBC Mellon) by phone at 1-800-783-9495, by mail at P.O. Box 7010, Adelaide Street Postal Station, Toronto ON M5C 2W9, by e-mail to firstname.lastname@example.org or online at www.canstockta.com. For additional information about services available to our shareholders through CIBC Mellon click here.
For a copy of the U.S. Plan prospectus, including a complete description of the U.S. Plan, its terms and features, click here. To enroll or request a printed copy of the prospectus, please contact the U.S. Plan administrator, Computershare Trust Company, N.A. (Computershare), directly at 1-800-249-7702, or by mail at Computershare Shareowner Services, P.O. 358013, Pittsburgh, PA 15252-8013, by e-mail at email@example.com or online at www.computershare.com (Equity Access & More). For additional information about services available to our U.S. shareholders through Computershare click here.
Other Dividend Information
How do I know if a dividend has been declared?
Dividends are declared and a press release issued at the same time as the quarterly financial results are announced.
Can I have my dividends deposited directly into my bank account? In Canada, the United States and Hong Kong direct deposit of MFC dividends can be arranged through our local stock transfer agents.
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When are tax receipts for dividends sent out?
Tax receipts for residents of the United States are sent out within 30 days after the start of the next calendar year. Tax receipts for those U.S. holders who receive their dividends in check form are attached to the last dividend payment of the year. Tax receipts are sent out within 60 days after the start of the next calendar year to holders resident in Canada and all other countries.
Why are the amounts on my T5 different than the actual dividend cash I receive? (Canadian taxpayers only)
In 2006 federal legislation was introduced which enhanced the Gross Up and Dividend Tax Credit on eligible dividends paid by Canadian corporations after 2005.
Manulife has reviewed the requirements and has determined that the dividends paid on the Common and Preferred shares of Manulife Financial Corporation ("MFC") and on the Preferred shares of The Manufacturers Life Insurance Company ("MLI") are eligible dividends as defined by the legislation.
These changes will be reflected in Boxes 24, 25 and 26 of the T5 (for dividend income) you receive for 2006 and subsequent years. The tax forms distributed by the Canadian Customs and Revenue Agency have been updated to reflect this change and will refer to these boxes on your T5.
The old gross-up and tax credit rates will apply to share dividends paid by Manulife Financial Corporation or The Manufacturers Life Insurance Company prior to 2006.
If you have questions regarding the information on the tax forms you receive relating to your MFC common and preferred share dividend income or MLI preferred share dividend income, please contact our Canadian stock transfer agent CIBC Mellon at 1-800-783-9495.
If you have questions about your dividend payments…
If you bought your shares through your stock broker please contact them directly, otherwise contact our local stock transfer agents.
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