10 Dividend Stocks For Steady Income

3. Manulife Financial Corporation (NYSE:MFC)

Dividend Yield as of December 20: 3.79%

5-Year Share Price Return: 50.65%

Manulife Financial Corporation (NYSE:MFC) is a Canadian multinational insurance company that also offers a wide range of other financial services to its consumers. Despite global economic uncertainties, the company delivered a strong financial performance in 2024, driven by robust growth in new business and impressive results from its global wealth management segment, especially in Asia. The company’s solid stock performance this year may be attributed to its strategic emphasis on digital innovation and its expansion into high-growth markets. In Asia, Manulife has been actively broadening its product offerings and enhancing digital services to meet the needs of its expanding customer base. Recent initiatives include the launch of digital tools and mobile apps across major markets such as Vietnam, Indonesia, and the Philippines.

In the third quarter of 2024, Manulife Financial Corporation (NYSE:MFC) reported core earnings of $1.8 billion, which showed a 4% growth from the same period last year. Year-to-date, the company generated 70% of its core earnings from its highest-potential businesses, contributing to a 14% increase in core EPS, excluding the impact of GMT. A core ROE of 16.6% highlighted strong operational performance and disciplined capital allocation. The company maintained a focus on expense management, achieving an expense efficiency ratio of 45.0% year-to-date, aligning with its medium-term goal of remaining below 45%.

In addition to this, Manulife Financial Corporation (NYSE:MFC) remained committed to its shareholder obligation, returning over $2 billion to shareholders since the start of 2024. The company has a strong dividend history. It has raised its payouts for 11 consecutive years, which makes MFC one of the best stocks with steady dividends. The company offers a quarterly dividend of C$0.40 per share and has a dividend yield of 3.79%, as of December 20.

As per Insider Monkey’s database of Q3 2024, 22 hedge funds held stakes in Manulife Financial Corporation (NYSE:MFC), the same as in the previous quarter. These stakes are collectively valued at more than $395 million.