5 Canadian Dividend Stocks for Steady Income

4. Manulife Financial Corporation (NYSE:MFC)

Number of Hedge Fund Holders: 15

Dividend Yield as of April 1: 4.91%

Manulife Financial Corporation (NYSE:MFC) is headquartered in Toronto, Canada, providing financial products and services to customers in Asia, Canada, the United States, and international markets. The company specializes in asset management, insurance, commercial banking, mortgage, consumer banking, mutual funds, reinsurance, securities underwriting, and wealth management. 

Manulife Financial Corporation (NYSE:MFC) delivers a dividend yield of 4.91% as of April 1. The company declared on February 9 a C$0.33 per share quarterly dividend, a 17.9% increase from its prior dividend of C$0.28. The dividend was paid on March 21, to shareholders of the company as of February 23. 

On February 14, Desjardins analyst Doug Young maintained a Buy rating on Manulife Financial Corporation (NYSE:MFC) and raised the price target to C$30 from C$29. 

Among the hedge funds tracked by Insider Monkey, 15 funds were long Manulife Financial Corporation (NYSE:MFC), compared to 18 funds in the previous quarter. GLG Partners is the largest shareholder of the company, with 8.7 million shares worth close to $168 million.