Canadian insurer Sun Life raises dividend after curbs eased

(Reuters) - Canadian insurer Sun Life Financial Inc on Monday raised its quarterly dividend, joining rival Manulife Financial in increasing payouts to investors after regulatory curbs on capital distributions eased.

Sun Life Financial said its shareholders would receive a total quarterly dividend of 66 Canadian cents per share, 20% more than the prior quarter.

The dividend would be payable on Dec. 31 and includes a supplementary figure of 11 Canadian cents per share on top of the 55 Canadian cents per share quarterly dividend announced earlier this month.

Rival Manulife Financial last week became the first Canadian financial firm to resume dividend increases after the country's industry regulator decided to lift its moratorium on share buybacks, dividend raises and increases to executive compensation by financial institutions.

($1 = 1.2449 C$)

(Reporting by Manya Saini in Bengaluru; Editing by Aditya Soni)