TORONTO, Dec. 1, 2016 /CNW/ - Sun Life Financial Inc.
(TSX: SLF) (NYSE: SLF) ("Sun Life Financial") today announced the
dividend rates for its Class A Non-Cumulative Rate Reset Preferred
Shares Series 12R (the "Series 12R Shares") and Class A
Non-Cumulative Floating Rate Preferred Shares Series 13QR (the
"Series 13QR Shares").
With respect to any Series 12R Shares that remain outstanding
after December 31, 2016, commencing
as of that date, holders thereof will be entitled to receive
non-cumulative preferential cash dividends on a quarterly basis, as
and when declared by the Board of Directors of Sun Life Financial
and subject to the Insurance Companies Act (Canada). The dividend rate for the five-year
period commencing on December 31,
2016 to but excluding December 31,
2021 will be 3.806% per annum or $0.237875 per share per quarter, being equal to
the sum of the five year Government of Canada Yield, as defined in
the terms of the Series 12R Shares, on Thursday, December 1, 2016 plus 2.73%, as
determined in accordance with the terms of the Series 12R
Shares.
With respect to any Series 13QR Shares that are issued on
December 31, 2016, holders thereof
will be entitled to receive floating rate non-cumulative
preferential cash dividends on a quarterly basis, as and when
declared by the Board of Directors of Sun Life Financial and
subject to the Insurance Companies Act (Canada), based on a dividend rate equal to the
sum of the three month T-Bill Rate, as defined in the terms of the
Series 13QR Shares, plus 2.73% (calculated on the basis of the
actual number of days elapsed in such Quarterly Floating Rate
Period divided by 365 days), subject to certain adjustments in
accordance with the terms of the Series 13QR Shares. The dividend
rate for the period commencing on December
31, 2016 to but excluding March 31,
2017 will be equal to 3.239% per annum or $0.199664 per share, as determined in accordance
with the terms of the Series 13QR Shares.
Beneficial owners of Series 12R Shares who wish to exercise the
right of conversion applicable to those shares should communicate
as soon as possible with their broker or other nominee and should
ensure that their instructions are followed in order to meet the
deadline to exercise such right of conversion, which is
5:00 p.m. (ET) on Friday, December 16, 2016.
An application will be made to list the Series 13QR Shares on
the Toronto Stock Exchange.
The Series 12R Shares and the Series 13QR Shares have not been
and will not be registered under the United States Securities Act
of 1933, as amended, and subject to certain exceptions, may not be
offered, sold or delivered, directly or indirectly, in the United States of America for the account
or benefit of U.S. persons. This release does not constitute an
offer to sell or a solicitation to buy such securities in
the United States.
About Sun Life Financial
Sun Life Financial is a leading international financial services
organization providing a diverse range of protection and wealth
products and services to individuals and corporate customers. Sun
Life Financial and its partners have operations in a number of
markets worldwide, including Canada, the United
States, the United Kingdom,
Ireland, Hong Kong, the
Philippines, Japan,
Indonesia, India, China,
Australia, Singapore, Vietnam, Malaysia and Bermuda. As of September 30, 2016, the Sun Life Financial group
of companies had total assets under management of $908 billion. For more information please visit
www.sunlife.com.
Sun Life Financial Inc. trades on the Toronto (TSX), New
York (NYSE) and Philippine (PSE) stock exchanges under the
ticker symbol SLF.
Note to Editors: All figures in Canadian dollars except as
otherwise noted.
Media Relations Contact:
Gannon Loftus
Manager, Media & PR
Corporate Communications
T. 416-979-6345
gannon.loftus@sunlife.com
Investor Relations Contact:
Gregory Dilworth
Vice-President
Investor Relations
T. 416-979-6230
investor.relations@sunlife.com
SOURCE Sun Life Financial Inc. - Financial News