TORONTO, April 17, 2014 /CNW/ - Manulife Floating Rate Senior Loan Fund (the "Fund") (TSX:MFR.UN) announced today that a monthly cash distribution in the amount of C$0.05625 per Class A Unit of the Fund and US$0.05625 per Class U Unit of the Fund, will be paid on May 15, 2014 to unitholders of record as of April 30, 2014.
A unitholder who has continually held units since inception will have received a total of C$0.61875 per Class A unit and US$0.61875 per Class U unit as of the payment date.
Also announced today, the Fund's anticipated monthly cash distribution for the 12-month period starting June 1, 2014 will be C$0.05625 per Class A Unit (or C$0.675 per annum) or US$ 0.05625 per Class U Unit (or US$ 0.675 per annum).
The Fund determines annually its anticipated monthly distribution target for the following year. The distribution rate for June 1, 2014 to May 31, 2015 was determined based upon prevailing market conditions and the Manager's estimate of distributable cash flow for the next 12 months. This represents an annual yield of 6.94% for Class A Units, based on a market price of $9.72 per unit on March 31, 2014. For more information, please contact Manulife Customer Service at 1-888-333-3240.
About Manulife Investments
Manulife Investments is the brand name describing certain Canadian subsidiaries and operating divisions of Manulife Financial Corporation that offer personal wealth management products and services in Canada. As one of Canada's leading integrated financial services providers, Manulife Investments offers a variety of products and services including segregated fund contracts, mutual funds, annuities and guaranteed interest contracts.
About Manulife Financial
Manulife Financial is a leading Canada-based financial services group with principal operations in Asia, Canada and the United States. Clients look to Manulife for strong, reliable, trustworthy and forward-thinking solutions for their most significant financial decisions. Our international network of employees, agents and distribution partners offers financial protection and wealth management products and services to millions of clients. We also provide asset management services to institutional customers. Funds under management by Manulife Financial and its subsidiaries were approximately C$599 billion (US$563 billion) as at December 31, 2013. The Company operates as Manulife Financial in Canada and Asia and primarily as John Hancock in the United States.
Manulife Financial Corporation trades as 'MFC' on the TSX, NYSE and PSE, and under '945' on the SEHK. Manulife Financial can be found on the Internet at manulife.com.
SOURCE: Manulife Financial Corporation
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