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Sun Life approved to increase number of shares in repurchase.

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BANKING AND CREDIT NEWS-May 17, 2019-Sun Life approved to increase number of shares in repurchase

(C)2019 M2 COMMUNICATIONS http://www.m2.com

Sun Life Financial Inc. (TSX: SLF) (NYSE: SLF) has announced the Office of the Superintendent of Financial Institutions and the Toronto Stock Exchange has sent approvals to amend its normal course issuer bid to increase the number of its common shares that it may purchase for cancellation from 14 million common shares to 18 million shares, the company said.

Fourteen million common shares represents approximately 2.36% of the 593,387,971 common shares issued and outstanding as of April 30, 2019), and 18 million common shares represents approximately 3.03% of the 593,387,971 common shares issued and outstanding as of April 30, 2019. (NCIB) To date, the Company has completed the purchase and cancellation of 14 million common shares since the commencement of the NCIB.

Continuing to have a normal course issuer bid in place will provide the Company with the flexibility to acquire common shares in order to return capital to shareholders as part of its overall capital management strategy.

The NCIB will...

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