=> I will expect Manulife Financial's stock price to grow double in few years time, even with slow pace of business growth, as long as the corp can "back to basic" and "return to new normal", price will rise to above CA$40.
TORONTO, Sept. 24 /CNW/ - Manulife Financial (MFC) is looking forward to a bright future as it celebrates 10 years as a public company, a period that saw its market value, funds under management and premiums & deposits quadruple and its employee and agent numbers double.
"Since Manulife's demutualization and listing as a public company 10 years ago, we've grown to be one of Canada's largest and most international financial services companies," said Donald Guloien, President and Chief Executive Officer. "We're proud of the results we've achieved for our customers, policyholders and investors and believe that the current economic environment presents our company with unprecedented opportunities to build on that record and demonstrate that the best is yet to come," he added.
Manulife's 10-year initial public offering (IPO) anniversary marks a solid track record of success, built on diversified products, geographies and investments. Since 1999, the Company has quadrupled in size and delivered compound annual returns of over 12% to its shareholders*.
To celebrate the anniversary and symbolize future growth, Manulife will contribute to the planting of 75,000 trees in Canada, the U.S. and Asia to honour the employees, agents and retirees that helped shepherd Manulife through 10 years of strong growth.
A Growing Company
1999 2009
MFC Common Share Price (TSX): $8.95(1) $22.70(4)
Market Capitalization: $9 B(1) $37 B(4)
Premiums and Deposits: $19 B(2) $76 B(5)
Funds Under Management: $105 B(3) $421 B(6)
No. of Employees and Agents: 28,000(3) 59,000(7)
=> if you invest in Manulife Financial in the past 10 years (including dividend reinvest), even though the stock price fall down more than 40% from peak, you still make a 197% return in 10 years or an average of 11.5%.
(1) Stock split adjusted, based on closing price on September 24, 1999 (IPO date)
(2) For the 12-month period ended September 30, 1999
(3) As at September 30, 1999
(4) Based on closing price on September 23, 2009
(5) For the 12-month period ended June 30, 2009
(6) As at June 30, 2009
(7) As at December 31, 2008
$ Figures in Canadian currency
* Calculated based on Total Shareholder Return since IPO date assuming
dividends are reinvested in MFC common shares (Source: Thomson
Reuters). For additional measures of Manulife's growth, go to
www.manulife.com.
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