- AI Mania Makes Old-School Industrials Behave Like Chip Stocks
May 12, 2026
(Bloomberg) -- Optimism surrounding the potential for industrial companies to profit from the artificial intelligence boom has fueled record-setting momentum in the sector. Now worries are mounting that the group’s link to AI may be getting too tight.
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A gauge of 45-day correlation between the S&P 500 Industrials Sector, home to stocks like Deere & Co. and Fastenal Co., and the Philadelphia Stock Exchange Semiconductor Index is sitting at 0.75, near the highest level since June. A reading of 1 means the securities move in lockstep.
Many industrial companies provide the essential physical infrastructure needed to build and operate data centers, making them a second-derivative play for artificial intelligence. That makes the sector, already sensitive to swings in the broader economic cycle, also susceptible to risks of AI demand slowing.
“If AI is the single engine that’s driving both the stock market and the economy, any types of sputtering will end up being a bigger issue for everything,” said Michael O’Rourke, chief market strategist at JonesTrading Institutional Services. “Any weakness that emerges among a key player here should have ramifications throughout everything.”
The near-tandem moves were on display on Monday, when chipmakers like Qualcomm Inc. and Micron Technology Inc. helped lift the S&P 500 Index and industrial firms like power-equipment provider Vertiv Holdings Co. were among the top performers in the benchmark. The dynamic also sets up a test for both tech and industrial stocks when heavyweight Nvidia Corp. reports results next week.
Right now, there are 15 non-tech companies with a combined market capitalization of $2 trillion that are “moving as a derivative of AI capex,” Neil Dutta, head of economic research at Renaissance Macro Research LLC, wrote in a May 7 note to clients. “If the AI cycle ever cools off, the wealth-effect drag on consumption is not going to be confined to the Mag 7.”
Industrials including Vertiv, Eaton Corp., Caterpillar Inc. and even engine maker Cummins Inc. are high on the list. The stocks are more than 60% correlated to the VanEck Semiconductor ETF, data compiled by Renaissance Macro show.
“These are not tech stocks. They trade like semis because their order books have become AI capex order books,” Dutta said, noting that Caterpillar is selling backup generators to data centers, while Vertiv provides cooling and power management equipment.
Story Continues
Indeed, the AI spending boom has reshaped the way that some of the sector’s most-storied names trade. Caterpillar, famous for its yellow backhoes and bulldozers, has surged more than 170% in the past 12 months. Sales to data centers have fueled a 250% rally in Vertiv and a 150% advance in GE Vernova Inc. over the past year.
“These are the picks and shovels and infrastructure behind the AI buildout,” said Emily Roland, co-chief investment strategist at Manulife John Hancock. She said that while the sector has gotten expensive, the “magnitude of the earnings beats” in industrials is outpacing other groups. At the outset of earnings season, she noted analysts had expected to see average earnings growth of 3%, whereas the sector has shown 20%.
Yey the risk is that any material slowdown in AI spending or a simple reversal in momentum in AI stocks will likely spill over into industrials, fueling swings in the sector that’s trading at a valuation premium to the broader S&P 500 that’s been exceeded just briefly this century. Shares of Vertiv and GE Vernova fell 5.4% and 2.8%, respectively, in late April after a report that OpenAI had missed internal targets for revenue and new users.
Philip Straehl, chief investment officer at Morningstar Wealth, wrote on May 7 that the US equity market “has increasingly become a concentrated bet on AI” as earnings growth is tied to AI infrastructure spending. He warned, however, that AI spending is at this point “just a forecast” and some of those spending plans could be trimmed.
“History offers many examples — from railroads to fiber-optic networks — where companies built capacity based on optimistic projections around future adoption,” Straehl said, adding that in those cases, the main beneficiaries were consumers, not investors.
To be sure, industrial stocks are trading in-line with some of their historic norms. After a spike in February helped the S&P 500 Industrials Sector outperform the broader S&P 500 by two standard deviations, the group is now directly in the middle of an expected 100-day breather, data DataTrek Research shows.
Still, the firm does see concentrated outperformance in the stocks participating in the AI buildout. “Industrials have recently enjoyed a renaissance in investor interest as a derivative AI trade, but that has left many leadership names with tech-like valuations but still capital-intensive, manufacturing oriented business models.”
The group has also gotten expensive: For the first time since 2021, industrials in the S&P 500 are trading at a higher forward price-to-earnings multiple than technology companies.
Those lofty valuations further set the group up for a potentially rough landing because the services they are offering are more commoditized than in the tech space, O’Rourke said.
“The industrial names have a larger risk” he said.
--With assistance from Matthew Griffin.
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- Manulife Turns Longevity into Action Through Volunteerism with First‑Ever Global Impact Week
May 11, 2026
Manulife's inaugural global Impact Week brings longevity commitment to life through social connection and purpose-driven community action
Thousands of colleagues mobilized in support of local charities, exemplifying Manulife's strong winning team and culture
TORONTO, BOSTON and HONG KONG, May 11, 2026 /CNW/ - Manulife hosted its inaugural Impact Week, a volunteer initiative designed to strengthen well-being, build social connection, and unite teams through purpose-driven community action.Pragashini Fox, Manulife's Chief People Officer, and colleagues volunteering at Anishnabeg Outreach in Kitchener, On. (CNW Group/Manulife Financial Corporation)
From April 27 to May 1 in North America, and April 27 to May 8 across Asia, colleagues mobilized to support community partners focused on health and well-being, financial resilience, food security, education and additional causes linked to longevity. Manulife offers its 37,000 colleagues an annual paid Volunteer Day benefit, and Impact Week provided a globally-aligned opportunity for colleagues to use that benefit and volunteer together.
"We have a long history of community stewardship at Manulife, and Impact Week reflects our continued commitment to our communities around the world," said Phil Witherington, President and CEO, Manulife. "Strengthening our winning team and culture and empowering health, wealth, and longevity are two of our strategic priorities, and volunteering is a powerful way to advance both, by deepening connection, building belonging, and turning our values into action. I'm proud of Team Manulife this week for getting outside with one another and capturing the scale of our global footprint to make a real difference."
Results and Highlights from Impact Week 2026
During Impact Week:
21,724 volunteer hours were logged globally, with community impact continuing beyond the week 234 volunteer activities were completed across 22 communities
Volunteering: A Longevity Driver
Impact Week reflects Manulife's commitment to longevity, translating insights on connection and purpose into real‑world impact while reinforcing the role volunteering plays in well-being and quality of life. Research shows positive effects of volunteering include:
Longer, healthier lives, including lower blood pressure, improved physical health and reduced mortalityi. Better mental health, with increased purpose and connection and reduced stress, anxiety and depressionii. Stronger cognitive health, including slower cognitive decline and improved social connectioniii.
"Longevity isn't only influenced by physical and financial well-being — it's shaped by how we live and connect," said Karen Leggett, Global Chief Marketing Officer, Manulife. "Volunteering builds purpose, social connection, and resilience — factors linked to longer, healthier lives. Impact Week gives our colleagues the opportunity to serve our communities while also investing in their own longevity."
Story Continues
Manulife Colleagues Driving Global Impact Through Local Action
A hallmark of Impact Week was its flexibility, which helped strengthen connection across teams, bringing colleagues together around shared purpose and reinforcing a culture of inclusion. Alongside curated volunteer opportunities, teams designed their own initiatives through Team Grants, which enabled groups of 10 or more to support non-profit partners with funding and hands‑on effort.
"Impact Week created space for colleagues to have dedicated time to come together and make a difference in their communities," said Pragashini Fox, Chief People Officer, Manulife. "By offering a global Volunteer Day and empowering teams to lead local initiatives, we're strengthening connection, belonging, and a shared sense of purpose across Manulife. When colleagues come together in service, it builds the connections that underpin strong, inclusive teams."
Manulife's Legacy of Community Stewardship
Impact Week continues a long tradition of community involvement at Manulife. Since 1888, when the company donated its first ambulance to help improve community health, Manulife has continued to evolve how it contributes to stronger communities, recognizing that wellbeing includes not only physical health, but also the purpose and connection that come from showing up for others.
Impact Week aligns closely with the work of the Manulife Longevity Institute, a global research, thought leadership, innovation, advocacy, and community investment platform that will help people thrive at every age. Learn more about Manulife's Longevity research and insights at: Manulife.com/longevity.
About Manulife
Manulife Financial Corporation is a leading international financial services provider, headquartered in Toronto, Canada. Anchored in our ambition to be the number one choice for customers, we operate as Manulife across Canada and Asia, and primarily as John Hancock in the United States, providing financial advice, insurance and health solutions for individuals, groups and businesses. Through Manulife Wealth & Asset Management, we offer global investment solutions, financial advice, and retirement plan services to individuals, institutions, and retirement plan members worldwide. At the end of 2025, we had more than 37,000 employees, over 106,000 agents, and thousands of distribution partners, serving over 37 million customers with operations across 25 markets globally. We trade as 'MFC' on the Toronto, New York, and Philippine stock exchanges, and under '945' on the Hong Kong stock exchange. Not all offerings are available in all jurisdictions. For additional information, please visit manulife.com.
About Manulife Longevity Institute
The Manulife Longevity Institute is a global research, thought leadership, innovation, advocacy, and community investment platform to drive action that can help people live longer, healthier, and more financially secure lives. Underpinned by a $350 million signature commitment, its focus is on helping people extend their healthy years, promoting greater financial resilience for all. As a global insurer, retirement plan provider, and asset manager, Manulife is uniquely placed to help lead this change. The Institute's work will support Manulife's Impact Agenda strategy by investing in organizations that are growing the longevity economy, convening research collaborations with leading academic institutions and think tanks, and producing thought leadership to advance awareness and action on the issues impacting populations as they age. The Institute will be known as the John Hancock Longevity Institute in the United States. The actions of the Institute will be guided by a Steering Committee of members of Manulife's Executive and Global Leadership Teams and in partnership with a robust ecosystem of partners and experts who champion longevity across Canada, Asia, and the US. Canada, Asia, and the US.
For more information, please visit Manulife.com/Longevity.
Media contact Manulife: Emily English
emily_english@manulife.ca
647-544-2800
________________________________ iPsychology and Aging: A prospective study of volunteerism and hypertension risk in older adults iiMayo Clinic Health System findings on reduced stress and improved mental health iii Social Science & Medicine: Helping behaviors and cognitive function in later lifeNaveed Irshad, President and CEO, Manulife Canada, and colleagues at Toronto’s Yonge Street Mission (YSM). (CNW Group/Manulife Financial Corporation)Colleague volunteering at a local food bank in Toronto. (CNW Group/Manulife Financial Corporation)Manulife’s President and CEO Phil Witherington joins Toronto middle school students for a conversation about financial literacy. (CNW Group/Manulife Financial Corporation)Manulife’s President and CEO Phil Witherington joins Toronto middle school students for a conversation about financial literacy. (CNW Group/Manulife Financial Corporation)Manulife colleagues in Japan take part in a river clean-up effort. (CNW Group/Manulife Financial Corporation)Colleagues volunteering at the Nova Scotia SPCA in Dartmouth. (CNW Group/Manulife Financial Corporation)John Hancock colleagues supporting Cradles for Crayons in Boston. (CNW Group/Manulife Financial Corporation)Manulife logo (CNW Group/Manulife Financial Corporation)Cision
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- Manulife Turns Longevity into Action Through Volunteerism with First‑Ever Global Impact Week
May 11, 2026
Manulife's inaugural global Impact Week brings longevity commitment to life through social connection and purpose-driven community action
Thousands of colleagues mobilized in support of local charities, exemplifying Manulife's strong winning team and culture
TORONTO, BOSTON and HONG KONG, May 11, 2026 /PRNewswire/ -- Manulife hosted its inaugural Impact Week, a volunteer initiative designed to strengthen well-being, build social connection, and unite teams through purpose-driven community action.Pragashini Fox, Manulife's Chief People Officer, and colleagues volunteering at Anishnabeg Outreach in Kitchener, On.
From April 27 to May 1 in North America, and April 27 to May 8 across Asia, colleagues mobilized to support community partners focused on health and well-being, financial resilience, food security, education and additional causes linked to longevity. Manulife offers its 37,000 colleagues an annual paid Volunteer Day benefit, and Impact Week provided a globally-aligned opportunity for colleagues to use that benefit and volunteer together.
"We have a long history of community stewardship at Manulife, and Impact Week reflects our continued commitment to our communities around the world," said Phil Witherington, President and CEO, Manulife. "Strengthening our winning team and culture and empowering health, wealth, and longevity are two of our strategic priorities, and volunteering is a powerful way to advance both, by deepening connection, building belonging, and turning our values into action. I'm proud of Team Manulife this week for getting outside with one another and capturing the scale of our global footprint to make a real difference."
Results and Highlights from Impact Week 2026
During Impact Week:
21,724 volunteer hours were logged globally, with community impact continuing beyond the week 234 volunteer activities were completed across 22 communities
Volunteering: A Longevity Driver
Impact Week reflects Manulife's commitment to longevity, translating insights on connection and purpose into real‑world impact while reinforcing the role volunteering plays in well-being and quality of life. Research shows positive effects of volunteering include:
Longer, healthier lives, including lower blood pressure, improved physical health and reduced mortalityi. Better mental health, with increased purpose and connection and reduced stress, anxiety and depressionii. Stronger cognitive health, including slower cognitive decline and improved social connectioniii.
"Longevity isn't only influenced by physical and financial well-being — it's shaped by how we live and connect," said Karen Leggett, Global Chief Marketing Officer, Manulife. "Volunteering builds purpose, social connection, and resilience — factors linked to longer, healthier lives. Impact Week gives our colleagues the opportunity to serve our communities while also investing in their own longevity."
Story Continues
Manulife Colleagues Driving Global Impact Through Local Action
A hallmark of Impact Week was its flexibility, which helped strengthen connection across teams, bringing colleagues together around shared purpose and reinforcing a culture of inclusion. Alongside curated volunteer opportunities, teams designed their own initiatives through Team Grants, which enabled groups of 10 or more to support non-profit partners with funding and hands‑on effort.
"Impact Week created space for colleagues to have dedicated time to come together and make a difference in their communities," said Pragashini Fox, Chief People Officer, Manulife. "By offering a global Volunteer Day and empowering teams to lead local initiatives, we're strengthening connection, belonging, and a shared sense of purpose across Manulife. When colleagues come together in service, it builds the connections that underpin strong, inclusive teams."
Manulife's Legacy of Community Stewardship
Impact Week continues a long tradition of community involvement at Manulife. Since 1888, when the company donated its first ambulance to help improve community health, Manulife has continued to evolve how it contributes to stronger communities, recognizing that wellbeing includes not only physical health, but also the purpose and connection that come from showing up for others.
Impact Week aligns closely with the work of the Manulife Longevity Institute, a global research, thought leadership, innovation, advocacy, and community investment platform that will help people thrive at every age. Learn more about Manulife's Longevity research and insights at: Manulife.com/longevity.
About Manulife
Manulife Financial Corporation is a leading international financial services provider, headquartered in Toronto, Canada. Anchored in our ambition to be the number one choice for customers, we operate as Manulife across Canada and Asia, and primarily as John Hancock in the United States, providing financial advice, insurance and health solutions for individuals, groups and businesses. Through Manulife Wealth & Asset Management, we offer global investment solutions, financial advice, and retirement plan services to individuals, institutions, and retirement plan members worldwide. At the end of 2025, we had more than 37,000 employees, over 106,000 agents, and thousands of distribution partners, serving over 37 million customers with operations across 25 markets globally. We trade as 'MFC' on the Toronto, New York, and Philippine stock exchanges, and under '945' on the Hong Kong stock exchange. Not all offerings are available in all jurisdictions. For additional information, please visit manulife.com.
About Manulife Longevity Institute
The Manulife Longevity Institute is a global research, thought leadership, innovation, advocacy, and community investment platform to drive action that can help people live longer, healthier, and more financially secure lives. Underpinned by a $350 million signature commitment, its focus is on helping people extend their healthy years, promoting greater financial resilience for all. As a global insurer, retirement plan provider, and asset manager, Manulife is uniquely placed to help lead this change. The Institute's work will support Manulife's Impact Agenda strategy by investing in organizations that are growing the longevity economy, convening research collaborations with leading academic institutions and think tanks, and producing thought leadership to advance awareness and action on the issues impacting populations as they age. The Institute will be known as the John Hancock Longevity Institute in the United States. The actions of the Institute will be guided by a Steering Committee of members of Manulife's Executive and Global Leadership Teams and in partnership with a robust ecosystem of partners and experts who champion longevity across Canada, Asia, and the US. Canada, Asia, and the US.
For more information, please visit Manulife.com/Longevity.
Media contact Manulife: Emily English
emily_english@manulife.ca
647-544-2800
________________________________ iPsychology and Aging: A prospective study of volunteerism and hypertension risk in older adults iiMayo Clinic Health System findings on reduced stress and improved mental health iii Social Science & Medicine: Helping behaviors and cognitive function in later lifeNaveed Irshad, President and CEO, Manulife Canada, and colleagues at Toronto’s Yonge Street Mission (YSM).Colleague volunteering at a local food bank in Toronto.Manulife’s President and CEO Phil Witherington joins Toronto middle school students for a conversation about financial literacy.Manulife’s President and CEO Phil Witherington joins Toronto middle school students for a conversation about financial literacy.Manulife colleagues in Japan take part in a river clean-up effort.Colleagues volunteering at the Nova Scotia SPCA in Dartmouth.John Hancock colleagues supporting Cradles for Crayons in Boston.Manulife logoCision
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- Assessing Manulife Financial (TSX:MFC) Valuation After Recent Share Price Moves And Comvest Credit Partners Deal
May 5, 2026
Make better investment decisions with Simply Wall St's easy, visual tools that give you a competitive edge.
Manulife Financial stock update
Manulife Financial (TSX:MFC) has drawn investor attention after recent share price moves, with the stock showing mixed short term returns, but stronger figures over the past year and multi year period.
See our latest analysis for Manulife Financial.
The recent 1 day and 7 day share price declines sit against a 30 day share price return of 8% and a 1 year total shareholder return of 26%, suggesting momentum has been broadly positive despite short term softness.
If you are looking beyond insurers and want more ideas with growth or income potential, this could be a good moment to scan the market using the 3 top founder-led companies
With Manulife trading at CA$52.45, sitting close to analyst targets and with an intrinsic value estimate suggesting a sizeable discount, you need to ask whether this is a genuine opportunity or whether markets are already pricing in future growth.
Most Popular Narrative: 4.3% Undervalued
Against the last close at CA$52.45, the most followed narrative points to a fair value of CA$54.78, implying a modest valuation gap that stems from specific growth and margin expectations rather than a broad market mismatch.
The acquisition of Comvest Credit Partners meaningfully scales Manulife's private markets platform and introduces high-growth, fee-based private credit capabilities. Leveraging Manulife's global distribution, especially into Asia's fast-growing wealth pools, should drive a higher mix of stable, capital-light fee income. This may improve net margins and support core EPS and ROE growth.
Read the complete narrative.
Curious what revenue trajectory, profit margins and future earnings multiple are baked into that fair value, and how disciplined capital returns fit into the story? The full narrative lays out the exact growth runway, profitability path and re rating assumptions that need to hold for CA$54.78 to make sense.
Result: Fair Value of CA$54.78 (UNDERVALUED)
Have a read of the narrative in full and understand what's behind the forecasts.
However, you still need to weigh risks, such as tighter margins from Hong Kong pension fee pressure and higher U.S. credit losses that could unsettle that valuation story.
Find out about the key risks to this Manulife Financial narrative.
Another View: What The P/E Ratio Suggests
While the SWS DCF model points to significant upside, the market is assigning Manulife a P/E of 16.7x, slightly above the peer average of 16.4x and above its fair ratio of 16.2x. That premium hints at less margin for error, so how comfortable are you with what is already priced in?
Story Continues
See what the numbers say about this price — find out in our valuation breakdown.TSX:MFC P/E Ratio as at May 2026
Next Steps
With sentiment this mixed, it makes sense to look at the underlying data yourself and decide how comfortable you are with the risk reward balance. To see what the market is currently optimistic about, review the 4 key rewards
Ready to find your next investment idea?
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
Companies discussed in this article include MFC.TO.
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com
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- John Hancock Adds to U.S. Sales and Distribution Leadership with Key Appointments, Expands Executive Benefits Business
May 4, 2026
With decades of combined industry experience, Robert Carney and Jennifer Ortale join John Hancock, reinforcing its commitment to superior distribution and growth
BOSTON, May 4, 2026 /CNW/ - John Hancock today announced the appointments of Robert Carney as Head of Insurance Sales and Distribution and Jennifer Ortale as Head of Executive Benefits.John Hancock Adds to U.S. Sales and Distribution Leadership with Key Appointments, Expands Executive Benefits Business (CNW Group/John Hancock)
"Bringing these leaders on reflects our unwavering commitment to our third‑party distribution model and our continued investment in strong leadership that supports our sales partners," said Hector Martinez, Head of Insurance at John Hancock. "Rob and Jennifer bring deep industry expertise and proven leadership that will help us elevate how we serve partners and make it easier, better, and faster to do business with John Hancock."
"These leadership appointments are an important step in supporting our long‑term growth strategy," said Brooks Tingle, President and CEO of John Hancock. "By strengthening our distribution and expanding our presence in high‑potential areas of the market, we're positioning our insurance business to drive growth now and in the future."
Carney brings considerable experience leading high-performing teams and driving growth at large financial services organizations. In his new role, he will be responsible for expanding market share, strengthening producer engagement, and scaling next-generation distribution capabilities across the U.S. life insurance business. Prior to joining John Hancock, Carney served as Chief Distribution Officer for Life Insurance, Annuities, and Asset Management at Transamerica, as well as President, CEO, and Chairman of the Board of Transamerica Capital, LLC. Earlier in his career, Carney spent nearly two decades at Truist Insurance Holdings, holding C‑suite roles at CRC Group and Crump Life Insurance Services, helping build and scale one of the nation's largest life insurance distribution platforms.
Ortale is stepping into a newly created role focused on leveraging the Company's innovative John Hancock Vitality solution to expand its Executive Benefits business. She is supporting the company's efforts to diversify and grow its portfolio through unique distribution engagement, product innovation and advisor enablement across the executive benefits marketplace. Ortale brings nearly two decades of experience building and scaling executive benefits businesses, most recently serving as Vice President, Operations – Multi-Life & Executive Benefits at Penn Mutual Life Insurance, with prior leadership roles at Securian Financial, New York Life, and Prudential Financial.
Story Continues
To learn more visit John Hancock's website.
About John Hancock and Manulife
John Hancock is a unit of Manulife Financial Corporation, a leading international financial services provider that helps people make their decisions easier and lives better by providing financial advice, insurance, and wealth and asset management solutions. Manulife Financial Corporation trades as MFC on the TSX, NYSE, and PSE, and under 945 on the SEHK. Manulife can be found at manulife.com.
One of the largest life insurers in the United States, John Hancock supports more than ten million Americans with a broad range of financial products, including life insurance and annuities. John Hancock also supports US investors by bringing investment capabilities and retirement planning and administration expertise to individuals and institutions. Additional information about John Hancock may be found at johnhancock.com.
Media Contact news@jhancock.com
Vitality is the provider of the John Hancock Vitality Program in connection with policies issued by John Hancock.
Insurance products are issued by: John Hancock Life Insurance Company (U.S.A.), Boston, MA 02116 (not licensed in New York) and John Hancock Life Insurance Company of New York, Valhalla, NY 10595.
MLINY042726864-1Cision
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- Manulife Financial announces Conversion Privileges for its Series 3 and Series 4 Class 1 Preferred Shares
May 4, 2026
C$ unless otherwise stated TSX/NYSE/PSE: MFC SEHK: 945
TORONTO, May 4, 2026 /CNW/ - Manulife Financial Corporation ("Manulife") today announced that it does not intend to exercise its right to redeem all or any of its currently outstanding 6,537,903 Non-cumulative Rate Reset Class 1 Shares Series 3 (the "Series 3 Preferred Shares") (TSX: MFC.PR.F) or 1,462,097 Non-cumulative Floating Rate Class 1 Shares Series 4 (the "Series 4 Preferred Shares") (TSX: MFC.PR.P) on June 19, 2026.Manulife logo (CNW Group/Manulife Financial Corporation)
As a result, subject to certain conditions described in the prospectus supplement dated March 7, 2011 relating to the issuance of the Series 3 Preferred Shares and Series 4 Preferred Shares (the "Prospectus"), the holders of the Series 3 Preferred Shares have the right, at their option, to convert all or part of their Series 3 Preferred Shares on a one-for-one basis into Series 4 Preferred Shares on June 19, 2026. As well, subject to certain conditions, the holders of Series 4 Preferred Shares have the right to convert all or part of their Series 4 Preferred Shares on a one-for-one basis into Series 3 Preferred Shares on June 19, 2026. Holders who do not exercise their right to convert their Series 3 Preferred Shares into Series 4 Preferred Shares will retain their Series 3 Preferred Shares. Holders who do not exercise their right to convert their Series 4 Preferred Shares into Series 3 Preferred Shares will retain their Series 4 Preferred Shares.
Beneficial owners of Series 3 Preferred Shares and Series 4 Preferred Shares who wish to exercise their right of conversion should instruct their broker or other nominee to exercise such right before 5:00 p.m. (Toronto time) on June 4, 2026.
The foregoing conversions are subject to the conditions that: (i) if, after June 4, 2026, Manulife determines that there would be less than 1,000,000 Series 3 Preferred Shares outstanding on June 19, 2026, then all remaining Series 3 Preferred Shares will automatically be converted into an equal number of Series 4 Preferred Shares on June 19, 2026, and (ii) if, after June 4, 2026, Manulife determines that there would be less than 1,000,000 Series 4 Preferred Shares outstanding on June 19, 2026, then all remaining Series 4 Preferred Shares will automatically be converted into an equal number of Series 3 Preferred Shares. In either case, Manulife shall give written notice to that effect to any registered holders of Series 3 and Series 4 Preferred Shares on or before June 7, 2026.
Story Continues
The dividend rate applicable to the Series 3 Preferred Shares for the 5-year period commencing on June 20, 2026, and ending on June 19, 2031, and the dividend rate applicable to the Series 4 Preferred Shares for the 3-month period commencing on June 20, 2026, and ending on September 19, 2026, will be determined and announced by way of a news release on May 21, 2026. Manulife will also give written notice of these dividend rates to the registered holders of Series 3 Preferred Shares and Series 4 Preferred Shares.
Conversion inquiries should be directed to Manulife's Registrar and Transfer Agent, TSX Trust Company (Canada), at 1-800-783-9495.
The Series 3 Preferred Shares and the Series 4 Preferred Shares have not been and will not be registered in the United States under the United States Securities Act of 1933, as amended (the "Securities Act"), or the securities laws of any state of the United States and may not be offered, sold or delivered, directly or indirectly in the United States or to, or for the account or benefit of, a "U.S. person" (as defined in Regulation S under the Securities Act) absent registration or an applicable exemption from such registration requirements. This press release does not constitute an offer to sell or a solicitation to buy securities in the United States and any public offering of the securities in the United States must be made by means of a prospectus.
About Manulife
Manulife Financial Corporation is a leading international financial services provider, headquartered in Toronto, Canada. Anchored in our ambition to be the number one choice for customers, we operate as Manulife across Canada and Asia, and primarily as John Hancock in the United States, providing financial advice, insurance and health solutions for individuals, groups and businesses. Through Manulife Wealth & Asset Management, we offer global investment solutions, financial advice, and retirement plan services to individuals, institutions, and retirement plan members worldwide. At the end of 2025, we had more than 37,000 employees, over 106,000 agents, and thousands of distribution partners, serving over 37 million customers with operations across 25 markets globally. We trade as 'MFC' on the Toronto, New York, and Philippine stock exchanges, and under '945' on the Hong Kong stock exchange. Not all offerings are available in all jurisdictions. For additional information, please visit manulife.com.
Media Relations: Fiona McLean
Manulife
437-441-7491
fiona_mclean@manulife.com
Investor Relations: Derek Theobalds,
Manulife
416-254-1774
derek_theobalds@manulife.comCision
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- Manulife commits $500,000 to expand youth mental health prevention programs across Quebec
May 4, 2026
C$ unless otherwise stated
TSX/NYSE/PSE: MFC SEHK: 945
Investment strengthens school-based prevention and equips parents and educators with practical tools
Announced during Mental Health Week in Canada, the initiative reflects Manulife's commitment to prioritizing health and well-being
MONTREAL, May 4, 2026 /CNW/ - Manulife today announced a renewed partnership with the Youth In Mind Foundation (Fondation Jeunes en Tête), including a $500,000 commitment to support the Quebec–based organization's work to prevent psychological distress among youth aged 11 to 18. The announcement coincides with Mental Health Week in Canada, reinforcing Manulife's commitment to prioritizing health and well-being.Manulife logo (CNW Group/Manulife Financial Corporation)
In Canada, about one in four Canadian teens report fair or poor mental health — with many more experiencing symptoms of distressi. The foundation focuses on early, school–based prevention, equipping youth with the knowledge, confidence, and tools to address mental health challenges before distress escalates. Manulife will contribute to the delivery of workshops and resources reaching approximately 55,000 youth annually across Quebec and their families, strengthening mental health awareness and support within school communities.
"Young people today are navigating more challenges than ever, and they shouldn't have to face them alone," said Alexis Gerbeau, Head of Quebec, Manulife Canada. "When we talk about longevity, we often think about later life, but the foundations of lifelong health are shaped much earlier. Longevity is a shared, lived experience at every age, and through this investment we are helping ensure youth, and the adults in their lives, have access to prevention, education and inclusive support, alongside the families and communities that surround them."
In addition to youth focused programming, the investment will fund the development of new, practical tools for parents and educators, strengthening their ability to recognize, understand and support adolescent mental health. Initiatives will also include digital resources and various online workshops specifically designed for adults in young people's lives, helping extend impact beyond the classroom.
"Young people today face increasingly complex challenges, and the adults around them play a determining role in their ability to navigate these difficult moments," said Mélanie Boucher, President & Chief Executive Officer, Youth in Mind Foundation. "Thanks to Manulife's renewed support, we can reach more schools, deepen our impact and provide families and school communities with practical tools to better support adolescents at a pivotal stage of their lives."
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The program also builds on insights from Just a Phase, a four-episode podcast series on 2SLGBTQIA+ youth mental health sponsored by Manulife in 2024. Learnings from the series are being extended into new tools for families and school staff, reinforcing inclusive, stigma reducing approaches to mental health support.
In celebration of Mental Health Week, the foundation will be hosting a first live discussion on Facebook and YouTube today from 12:00 to 1:00p.m.ET, aimed at parents and caregivers, to provide them with practical tools on how best to support teens. These sessions will be permanently available on YouTube, as well as in the Foundation's Family Toolkit. More sessions will be developed Throughout the partnerships.
The partnership is closely aligned with the mission of the Manulife Longevity Institute, a global research, thought leadership, innovation, advocacy, and community investment platform that will help people thrive at every age. The focus on youth mental resilience, parental education, and inclusive support supports Manulife's ambition to help people live longer, healthier, more meaningful lives. Learn more about Manulife's Longevity research and insights at: Manulife.com/longevity.
About Manulife
Manulife Financial Corporation is a leading international financial services provider, headquartered in Toronto, Canada. Anchored in our ambition to be the number one choice for customers, we operate as Manulife across Canada and Asia, and primarily as John Hancock in the United States, providing financial advice, insurance and health solutions for individuals, groups and businesses. Through Manulife Wealth & Asset Management, we offer global investment solutions, financial advice, and retirement plan services to individuals, institutions, and retirement plan members worldwide. At the end of 2025, we had more than 37,000 employees, over 106,000 agents, and thousands of distribution partners, serving over 37 million customers with operations across 25 markets globally. We trade as 'MFC' on the Toronto, New York, and Philippine stock exchanges, and under '945' on the Hong Kong stock exchange. Not all offerings are available in all jurisdictions. For additional information, please visit manulife.com.
About Manulife Longevity Institute
The Manulife Longevity Institute is a global research, thought leadership, innovation, advocacy, and community investment platform to drive action that can help people live longer, healthier, and more financially secure lives. Underpinned by a $350 million signature commitment, its focus is on helping people extend their healthy years, promoting greater financial resilience for all. As a global insurer, retirement plan provider, and asset manager, Manulife is uniquely placed to help lead this change. The Institute's work will support Manulife's Impact Agenda strategy by investing in organizations that are growing the longevity economy, convening research collaborations with leading academic institutions and think tanks, and producing thought leadership to advance awareness and action on the issues impacting populations as they age. The Institute will be known as the John Hancock Longevity Institute in the United States. The actions of the Institute will be guided by a Steering Committee of members of Manulife's Executive and Global Leadership Teams and in partnership with a robust ecosystem of partners and experts who champion longevity across Canada, Asia, and the US. Canada, Asia, and the US. For more information, please visit Manulife.com/Longevity.
Youth In Mind Foundation
For nearly 30 years, the Youth in Mind Foundation has worked to prevent psychological distress among youth aged 11 to 18 across Quebec. Through awareness workshops delivered in high schools and online resources designed for youth, parents, and school staff, the Foundation takes concrete action to foster better mental health among adolescents. Raising awareness, building skills, and helping break the stigma — this is how the Foundation supports young people in navigating the challenges of adolescence and developing their well-being. For more information, visit https://fondationjeunesentete.org/en/
Media contact Manulife: Emily English
Emily_English@manulife.ca
647-544-2800
___________________________ i Statistics Canada: 2023 Canadian Health Survey on Children and Youth — Changes in the mental health of respondents from the 2019 surveyCision
View original content to download multimedia: http://www.newswire.ca/en/releases/archive/May2026/04/c3284.html
- Manulife Investments Closes the Market
May 1, 2026
Toronto, Ontario--(Newsfile Corp. - May 1, 2026) - Jordy Chilcott, Head of Retail Intermediary Distribution, Canada, Co-President and Co-Chief Executive Officer, Manulife Investment Management Limited ("Manulife" or the "Company") and his team, joined Keith Wu, Head, Exchange Traded Products, Toronto Stock Exchange ("TSX"), to close the market and celebrate the launch of the their Manulife All-in-One ETFs:
Manulife Conservative ETF Portfolio (TSX: MCAP) Manulife Balanced ETF Portfolio (TSX: MBAP) Manulife Growth ETF Portfolio (TSX: MGAP)
Cannot view this video? Visit:
https://www.youtube.com/watch?v=saxBSSYfKIg
The Manulife All-in-One ETFs feature actively managed asset allocation with exposure across 15 equity and fixed income asset classes.
As part of Manulife Financial Corporation, Manulife Wealth & Asset Management's mission is to make decisions easier and lives better by helping people invest confidently to pursue a more secure financial future. Their strength comes from the diversity of their global asset management expertise and distribution capabilities. Their global investment teams span equities, fixed income, alternative credit, private markets, and multi-asset solutions. They provide investment, financial advice, and retirement plan services to millions of individuals, institutions, and retirement plan members worldwide. At the heart of their approach are three cultural pillars: Partner for Progress, Trust through Transparency, and Intellectual Curiosity. These values shape how they build long-term relationships, develop differentiated investment strategies, and empower advisors and clients to seek meaningful financial outcomes. Whether through cutting-edge technology, AI innovation, personalized advice, or sustainable stewardship, Manulife Wealth & Asset Management is a trusted partner helping clients navigate complexity and invest with confidence.
For additional information, please visit manulifeim.com.
MEDIA CONTACT:
Elizabeth Bartlett
ELIZABETH_BARTLETT@jhancock.com
+1 (617) 5729615
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/295560
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- Manulife Investments Announces Final Annual 2026 Cash Distributions for Manulife Corporate Class ETF Series of Manulife Funds
Apr 29, 2026
C$ unless otherwise stated
TORONTO, April 29, 2026 /CNW/ - Manulife Investments today announced the final Annual 2026 cash distributions for Manulife Corporate Class Exchange Traded Funds (ETFs) series of Manulife Corporate Class Funds. Shareholders of record at the close of business on April 29, 2026, will receive cash distributions payable on April 30, 2026.Manulife Investments logo (CNW Group/Manulife Wealth & Asset Management)
Details of the distribution per share amounts are as follows:
Manulife ETF Series Fund Name Ticker Distribution
Amount
(per share) ($) Distribution
Frequency Manulife Canadian Equity Class - ETF Series MCAN 0.260097 Annual Manulife Global Equity Class - ETF Series MGEQ 0.006720 Annual
Commissions, management fees, brokerage fees and expenses all may be associated with exchange traded funds (ETFs) and ETF series. Please read the ETF Facts and prospectus before investing. ETFs and ETF series are not guaranteed, their values change frequently, and past performance may not be repeated. Manulife ETFs and ETF series of Manulife Funds are managed by Manulife Investments. Manulife Investments is a trade name of Manulife Investment Management Limited.
Manulife, Manulife & Design, Stylized M Design, and Manulife Investments are trademarks of The Manufacturers Life Insurance Company and are used by it and by its affiliates under license.
About Manulife Wealth & Asset Management
As part of Manulife Financial Corporation, Manulife Wealth & Asset Management's mission is to make decisions easier and lives better by helping people invest confidently to pursue a more secure financial future. Our strength comes from the diversity of our global asset management expertise and distribution capabilities. Our global investment teams span equities, fixed income, alternative credit, private markets, and multi-asset solutions. We provide investment, financial advice, and retirement plan services to millions of individuals, institutions, and retirement plan members worldwide. At the heart of our approach are three cultural pillars: Partner for Progress, Trust through Transparency, and Intellectual Curiosity. These values shape how we build long term relationships, develop differentiated investment strategies, and empower advisors and clients to seek meaningful financial outcomes. Whether through cutting-edge technology, AI innovation, personalized advice, or sustainable stewardship, Manulife Wealth & Asset Management is a trusted partner helping clients navigate complexity and invest with confidence. Not all offerings are available in all jurisdictions. For additional information, please visit manulifeim.com.
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About Manulife
Manulife Financial Corporation is a leading international financial services provider, headquartered in Toronto, Canada. Anchored in our ambition to be the number one choice for customers, we operate as Manulife across Canada and Asia, and primarily as John Hancock in the United States, providing financial advice, insurance and health solutions for individuals, groups and businesses. Through Manulife Wealth & Asset Management, we offer global investment solutions, financial advice, and retirement plan services to individuals, institutions, and retirement plan members worldwide. At the end of 2025, we had more than 37,000 employees, over 106,000 agents, and thousands of distribution partners, serving over 37 million customers with operations across 25 markets globally. We trade as 'MFC' on the Toronto, New York, and Philippine stock exchanges, and under '945' on the Hong Kong stock exchange. Not all offerings are available in all jurisdictions. For additional information, please visit manulife.com.
Media contact
Melissa Berczuk
mberczuk@manulife.comCision
View original content to download multimedia: http://www.newswire.ca/en/releases/archive/April2026/29/c9490.html
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- TSX Dividend Stocks To Consider In April 2026
Apr 28, 2026
The Canadian market is experiencing a complex landscape, with retail sales showing mixed signals and central banks maintaining a cautious stance on interest rates amid geopolitical tensions. In this environment, dividend stocks can offer investors potential stability and income, making them an attractive option as they navigate the uncertainties of 2026.
Top 10 Dividend Stocks In Canada
Name Dividend Yield Dividend Rating Wajax (TSX:WJX) 4.32% ★★★★★☆ Rogers Sugar (TSX:RSI) 5.62% ★★★★★☆ Pulse Seismic (TSX:PSD) 11.11% ★★★★★☆ Pizza Pizza Royalty (TSX:PZA) 5.94% ★★★★☆☆ Manulife Financial (TSX:MFC) 3.69% ★★★★★☆ IGM Financial (TSX:IGM) 3.37% ★★★★★☆ Hemisphere Energy (TSXV:HME) 5.55% ★★★★☆☆ Firm Capital Mortgage Investment (TSX:FC) 8.33% ★★★★★☆ Canadian Natural Resources (TSX:CNQ) 4.07% ★★★★★☆ AGF Management (TSX:AGF.B) 3.47% ★★★★★☆
Click here to see the full list of 14 stocks from our Top TSX Dividend Stocks screener.
Let's uncover some gems from our specialized screener.
Canadian Natural Resources
Simply Wall St Dividend Rating: ★★★★★☆
Overview: Canadian Natural Resources Limited is involved in the acquisition, exploration, development, production, marketing, and sale of crude oil, natural gas, and natural gas liquids across Western Canada, the United Kingdom sector of the North Sea, and Offshore Africa with a market cap of CA$126.65 billion.
Operations: Canadian Natural Resources Limited's revenue segments include Oil Sands Mining and Upgrading (CA$17.45 billion), Exploration and Production - North America (CA$18.95 billion), Midstream and Refining (CA$761 million), Exploration and Production - North Sea (CA$337 million), and Exploration and Production - Offshore Africa (CA$187 million).
Dividend Yield: 4.1%
Canadian Natural Resources offers a reliable dividend yield of 4.07%, supported by a payout ratio of 45.4% and a cash payout ratio of 62.7%. The company has consistently increased its dividends over the past 26 years, recently raising its quarterly dividend to C$0.625 per share. Despite significant insider selling, CNQ's stable earnings and recent revenue growth bolster its dividend sustainability, while ongoing share buybacks reflect management's confidence in the company's financial health.
Click to explore a detailed breakdown of our findings in Canadian Natural Resources' dividend report. Our comprehensive valuation report raises the possibility that Canadian Natural Resources is priced lower than what may be justified by its financials.TSX:CNQ Dividend History as at Apr 2026
Olympia Financial Group
Simply Wall St Dividend Rating: ★★★★☆☆
Overview: Olympia Financial Group Inc., with a market cap of CA$289.99 million, operates in Canada as a non-deposit taking trust company through its subsidiary, Olympia Trust Company.
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Operations: Olympia Financial Group Inc. generates revenue through several segments, including Investment Account Services (IAS) at CA$77.07 million, Health at CA$10.33 million, Currency and Global Payments (CGP) at CA$5.18 million, Corporate and Shareholder Services (CSS) at CA$4.67 million, Raisr at CA$1.58 million, and Corporate services contributing CA$0.04 million.
Dividend Yield: 5.9%
Olympia Financial Group's dividend yield of 5.9% ranks in the top 25% of Canadian payers, yet its sustainability is questionable due to a high cash payout ratio of 98.8%. Despite increasing dividends over the past decade, payments have been volatile and not well covered by free cash flows. Recent earnings showed a decline, with revenue at C$98.86 million and net income at C$19.86 million for 2025, impacting future dividend reliability.
Navigate through the intricacies of Olympia Financial Group with our comprehensive dividend report here. In light of our recent valuation report, it seems possible that Olympia Financial Group is trading behind its estimated value.TSX:OLY Dividend History as at Apr 2026
Alphamin Resources
Simply Wall St Dividend Rating: ★★★★☆☆
Overview: Alphamin Resources Corp., along with its subsidiaries, focuses on the production and sale of tin concentrates, with a market capitalization of CA$1.73 billion.
Operations: Alphamin Resources Corp. generates revenue of $620.89 million from the production and sale of tin from its Bisie Tin Mine.
Dividend Yield: 5.8%
Alphamin Resources offers a dividend yield of 5.8%, placing it among the top 25% in Canada. The dividends are well-covered by earnings and cash flows, with payout ratios of 69.3% and 40%, respectively. However, its dividend history is unstable, with payments being volatile over the past four years despite recent growth in earnings to US$147.96 million for 2025 from US$100.78 million previously, suggesting potential for future stability if trends continue positively.
Click here to discover the nuances of Alphamin Resources with our detailed analytical dividend report. Our valuation report unveils the possibility Alphamin Resources' shares may be trading at a discount.TSXV:AFM Dividend History as at Apr 2026
Next Steps
Delve into our full catalog of 14 Top TSX Dividend Stocks here. Already own these companies? Link your portfolio to Simply Wall St and get alerts on any new warning signs to your stocks. Streamline your investment strategy with Simply Wall St's app for free and benefit from extensive research on stocks across all corners of the world.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
Companies discussed in this article include TSX:CNQ TSX:OLY and TSXV:AFM.
This article was originally published by Simply Wall St.
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