Sun Life Financial Releases New Dividend Rates for Preferred Shares Series 10R and 11QR
On August 31, 2026, Sun Life Financial Inc. publicly disclosed the dividend rates for its Class A Non-Cumulative Rate Reset Preferred Shares, identified as Series 10R, and Class A Non-Cumulative Floating Rate Preferred Shares, labeled as Series 11QR. Aimed at investors and stakeholders, this announcement provides crucial insights into expected dividends for preferred shareholders.
Starting with Series 10R, any shares that remain after September 30, 2026, will entitle their holders to non-cumulative cash dividends on a quarterly basis. These dividends, declared by Sun Life's Board of Directors, will adhere to the regulations outlined in the Insurance Companies Act (Canada). The fixed dividend rate for this share class is set at 5.519% per annum, which equates to approximately $0.344938 each quarter. This figure is determined based on the Government of Canada Yield as of August 31, 2026, plus a 2.17% margin.
Meanwhile, Series 11QR shares eligible thereafter will receive floating rate dividends on a similar quarterly schedule. The dividend calculation for this series hinges on the T-Bill Rate, plus the same 2.17% margin used for Series 10R. For clarity, the rate applicable from September 30 to December 31, 2026, is fixed at 4.459% per annum, translating to around $0.280978 per share. This structure underscores Sun Life's commitment to providing predictable income streams for their preferred shareholders.
Moreover, beneficial owners of both Series 10R and Series 11QR Shares interested in conversion should act promptly. They must contact their brokers or nominees to ensure they follow the necessary procedures before the cutoff time of September 16, 2026, at 5:00 PM (ET).
Notably, it's important to highlight that Series 10R and Series 11QR Shares have not been registered under the United States Securities Act of 1933. As such, they cannot be sold, offered, or delivered directly or indirectly within the United States to U.S. persons, except under certain conditions.
About Sun Life: Sun Life is at the forefront of the financial services sector, providing an array of wealth, insurance, health solutions, and asset management to individuals and institutions alike. The company harnesses its extensive global network, spanning multiple regions, including Canada, the U.S., Europe, and Asia, to cater to diverse market demands effectively. As of mid-2026, Sun Life boasts a robust asset management portfolio, totaling approximately $1.70 trillion. For further details, interested parties are encouraged to visit sunlife.com.
Investors and financial analysts will certainly keep a keen eye on Sun Life's strategic moves as the company continues to solidify its position in the finance industry. The launch of Series 10R and Series 11QR preferred shares reinforces their endeavour to augment shareholder value while maintaining robust operational practices.
Starting with Series 10R, any shares that remain after September 30, 2026, will entitle their holders to non-cumulative cash dividends on a quarterly basis. These dividends, declared by Sun Life's Board of Directors, will adhere to the regulations outlined in the Insurance Companies Act (Canada). The fixed dividend rate for this share class is set at 5.519% per annum, which equates to approximately $0.344938 each quarter. This figure is determined based on the Government of Canada Yield as of August 31, 2026, plus a 2.17% margin.
Meanwhile, Series 11QR shares eligible thereafter will receive floating rate dividends on a similar quarterly schedule. The dividend calculation for this series hinges on the T-Bill Rate, plus the same 2.17% margin used for Series 10R. For clarity, the rate applicable from September 30 to December 31, 2026, is fixed at 4.459% per annum, translating to around $0.280978 per share. This structure underscores Sun Life's commitment to providing predictable income streams for their preferred shareholders.
Moreover, beneficial owners of both Series 10R and Series 11QR Shares interested in conversion should act promptly. They must contact their brokers or nominees to ensure they follow the necessary procedures before the cutoff time of September 16, 2026, at 5:00 PM (ET).
Notably, it's important to highlight that Series 10R and Series 11QR Shares have not been registered under the United States Securities Act of 1933. As such, they cannot be sold, offered, or delivered directly or indirectly within the United States to U.S. persons, except under certain conditions.
About Sun Life: Sun Life is at the forefront of the financial services sector, providing an array of wealth, insurance, health solutions, and asset management to individuals and institutions alike. The company harnesses its extensive global network, spanning multiple regions, including Canada, the U.S., Europe, and Asia, to cater to diverse market demands effectively. As of mid-2026, Sun Life boasts a robust asset management portfolio, totaling approximately $1.70 trillion. For further details, interested parties are encouraged to visit sunlife.com.
Investors and financial analysts will certainly keep a keen eye on Sun Life's strategic moves as the company continues to solidify its position in the finance industry. The launch of Series 10R and Series 11QR preferred shares reinforces their endeavour to augment shareholder value while maintaining robust operational practices.
Topics Financial Services & Investing）
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