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Sun Life Announces Dividend Rates for Preferred Shares Series 8R and 9QR
ByAinvest
Saturday, May 31, 2025 6:45 am ET1min read
Sun Life Financial announced dividend rates for its Class A Non-Cumulative Rate Reset Preferred Shares Series 8R and Class A Non-Cumulative Floating Rate Preferred Shares Series 9QR. Series 8R shares will have a fixed dividend rate of 4.230% per annum for five years, while Series 9QR shares will have a floating rate starting at 4.054% per annum. This announcement impacts shareholders deciding on conversion options by June 16, 2025.
Sun Life Financial Inc. (TSX: SLF) (NYSE: SLF) has announced the dividend rates for its Class A Non-Cumulative Rate Reset Preferred Shares Series 8R and Class A Non-Cumulative Floating Rate Preferred Shares Series 9QR. The changes, effective from June 30, 2025, are designed to provide shareholders with clear insights into their potential earnings.For Series 8R Shares, the dividend rate is fixed at 4.230% per annum for the period from June 30, 2025, to June 30, 2030. This translates to quarterly payments of $0.264375 per share, based on the sum of the Government of Canada Yield plus 1.41% [1]. The dividend is non-cumulative and will be paid quarterly, subject to the Insurance Companies Act (Canada).
Series 9QR Shares, on the other hand, will feature a floating rate starting at 4.054% per annum for the period from June 30, 2025, to September 30, 2025. This rate is derived from the sum of the T-Bill Rate plus 1.41%, calculated on the basis of the actual number of days elapsed in the quarterly period [2]. The dividend is also non-cumulative and will be paid quarterly.
Shareholders of both Series 8R and Series 9QR Shares who wish to convert their holdings should act promptly. The deadline for conversion is 5:00 p.m. ET on June 16, 2025. It is advised that they communicate with their brokers or nominees to ensure they meet this deadline.
Sun Life Financial, with total assets under management of $1.55 trillion as of March 31, 2025, continues to provide value through its diverse financial services [1]. The company trades under the ticker symbol SLF on the Toronto, New York, and Philippine stock exchanges.
References:
[1] https://www.prnewswire.com/news-releases/sun-life-announces-dividend-rates-on-class-a-noncumulative-rate-reset-preferred-shares-series-8r-and-class-a-noncumulative-floating-rate-preferred-shares-series-9qr-302469840.html
[2] https://www.gurufocus.com/news/2899656/sun-life-announces-dividend-rates-on-class-a-noncumulative-rate-reset-preferred-shares-series-8r-and-class-a-noncumulative-floating-rate-preferred-shares-series-9qr-slf-stock-news
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