Lucid files for 1-for-10 reverse stock split requiring shareholder approval
TORONTO - Sun Life Financial Inc. (TSX: SLF) (NYSE: SLF) has confirmed the election of its board of directors following a shareholder vote at its annual meeting on Thursday. The 12 nominees, as listed in a March 14, 2025 management information circular, received a majority of votes in favor of their election. The company, which maintains a solid 3.92% dividend yield and has raised dividends for 10 consecutive years, demonstrates strong financial health with a "GOOD" overall rating according to InvestingPro analysis.
The highest approval was granted to Kevin D. Strain, with 99.8% of votes cast in his favor. Close behind were Patrick P.F. Cronin, Ashok K. Gupta, and Marie-Lucie Morin, each securing approximately 99.7% of the votes. Notably, Helen M. Mallovy Hicks received the lowest percentage of votes for, with 97.3%, and correspondingly the highest percentage of votes withheld at 2.7%.
These results reflect the shareholders’ confidence in the elected directors to steer the company forward. The detailed voting outcomes for each nominee are available through Sun Life’s website and regulatory filings with Canadian and U.S. securities regulators.
Sun Life, a prominent international financial services organization, operates across several global markets, offering a range of services including asset management, wealth, insurance, and health solutions. As of March 31, 2025, the company reported total assets under management of $1.55 trillion.
The company is publicly traded on the Toronto, New York, and Philippine stock exchanges under the symbol SLF. The information regarding the election of directors is based on a press release statement.
In other recent news, Sun Life Financial Inc. reported impressive financial results for the first quarter of 2025, exceeding analyst expectations. The company achieved earnings per share of $1.82, surpassing the forecasted $1.72, marking a 21% increase year-over-year. Sun Life also reported a record underlying net income of $1,045 million, a 19% increase from the previous year, while maintaining a strong capital position with a LICAT ratio of 149%. The company has expanded its digital offerings and renewed its buyback program, increasing its common share dividend by 5%. Sun Life targets a 12% medium-term growth in its U.S. business and anticipates continued growth in alternatives and asset management. The company has faced challenges such as geopolitical uncertainties and macroeconomic pressures but remains confident in its resilient business mix and financial discipline. Analysts have noted the company’s strong performance in key markets, including Hong Kong and India, contributing to its positive outlook.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.