Manulife Financial Corporation (00945) said its net income attributed to shareholders for the year ended 31 December 2015 dropped 37.4% year-on-year to C$2,191 million.
Basic and diluted earnings per common share were C$1.06 and C$1.05.
Core earnings amounted to C$3,428 million, an increase of 18.7% from a year earlier.
New Business Value amounted to C$1,025 million, up 35% from 2014. The growth in new business value largely reflects strong sales in Asia and Canada and higher product margins in Asia, partly offset by lower volumes and unfavourable mix in the U.S.
For the fourth quarter of 2015, Manulife's net income attributed to shareholders dropped 61.6% year-on-year and 60.45% quarter-on-quarter to C$246 million. Core earnings amounted to C$859 million, up 20.5% year-on-year but down 1.3% quarter-on-quarter.
The Board of Directors approved an increase of 9% or 1.5 cents per share to the quarterly shareholders' dividend resulting in a dividend of 18.5 cents per share, payable on and after 21 March 2016.