TORONTO, Jan. 30, 2014 /PRNewswire/ - Manulife Asset Management Limited (the "Manager"), the Manager of the Oil Sands Sector Fund (TSX: OSF.UN) (the "Fund") announced its quarterly cash distribution for 2014 will be C$0.125 per unit or C$0.50 per annum.
The Fund annually determines its anticipated quarterly distribution target for the following year. The distribution rate was determined based upon prevailing market conditions and the Manager's estimate of distributable cash flow for the 12 months ending December 31, 2014. This represents an annual yield of 8.39 per cent based on a market price of C$5.96 per unit on December 31, 2013.
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 C$575 billion (US$559 billion) as at September 30, 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