Sun Life Financial Reveals Dividend Rates for Series 8R and 9QR Preferred Shares

Sun Life Financial Announces Dividend Rates

On May 30, 2025, Sun Life Financial Inc. (traded as TSX: SLF and NYSE: SLF) made a notable announcement about 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. This update is particularly important for investors and stakeholders in the financial market, providing clarity on future dividend expectations.

Overview of the Announcement

Beginning June 30, 2025, holders of Series 8R Shares will be entitled to receive non-cumulative preferential cash dividends on a quarterly basis as declared by the Board of Directors. The announced dividend rate for this five-year period, ending on June 30, 2030, will be set at 4.230% per annum, equating to $0.264375 per share each quarter. This figure is determined in correlation with the Government of Canada Yield as of May 30, 2025, plus an additional margin of 1.41%.

In parallel, for holders of Series 9QR Shares who continue to hold these shares after the same date, a floating rate non-cumulative preferential cash dividend will also be provided. This rate will be constructed based on the T-Bill Rate in combination with the same 1.41% margin. As specified, the initial dividend rate from June 30, 2025, to September 30, 2025, will be set at 4.054% per annum or $0.255458 per share.

Action for Shareholders

Shareholders possessing Series 8R and Series 9QR shares interested in exercising their conversion rights need to take action swiftly. They are urged to contact their brokers immediately to ensure adherence to the required procedures by the deadline, which falls at 5 p.m. (ET) on June 16, 2025. This conversion option provides shareholders an avenue to adjust their investment strategy according to their financial goals.

Regulatory Notes and Implications

It’s crucial to note that neither the Series 8R Shares nor the Series 9QR Shares have been registered under the United States Securities Act of 1933, indicating potential limitations in their acceptance in the U.S. market. This information serves as a critical reminder of the regulatory framework surrounding preferred shares, where compliance is vital for traders and investors.

About Sun Life Financial

Sun Life Financial is recognized as a major player in the international financial services sector, offering a wide range of asset management, wealth, insurance, and health solutions to individuals and institutions globally. The company has a strong presence in various markets, including Canada, the U.S., and the U.K., among others. As of the first quarter of 2025, Sun Life reported total assets under management amounting to approximately $1.55 trillion.

For further inquiries and detailed assistance, interested parties can visit Sun Life's official website or get in touch with their communications or investor relations teams via email. This level of transparency reinforces Sun Life's commitment to keeping its stakeholders informed about critical financial updates.