John Hancock Bank and Thrift Opportunity Fund Declares Year-End Managed Distribution
December 02 2005 - 4:48PM
PR Newswire (US)
BOSTON, Dec. 2 /PRNewswire-FirstCall/ -- John Hancock Bank and
Thrift Opportunity Fund (NYSE:BTO) declared its year-end
distribution pursuant to the fund's 10% managed distribution policy
today as follows: Declaration date: December 2, 2005 Ex-dividend
date: December 8, 2005 Record date: December 12, 2005 Payment date:
December 30, 2005 Source of Distribution Per Share Dividend income
$0.03986 Long-term capital gain $0.22925 Short-term capital gain
$0.01789 Total $0.28700 The plan requires the fund to make
quarterly distributions of at least 2.5 percent of the fund's net
asset value as of the preceding calendar year-end, or at least 10
percent annually. For the calendar year-ending 2005, the plan
requirements have been met. The last three managed distributions
were as follows: Declaration Date Per Share March 4, 2005 $0.28700
(income & long-term capital gain) June 3, 2005 $0.28700 (income
& long-term capital gain) September 2, 2005 $0.28700 (income
& long-term capital gain) Based on the December 31, 2004
Year-End Net Asset Value of $967,697,104 and 84,400,000 shares
outstanding, the fund will pay at least $0.28664 per share/per
quarter or $1.14656 per share/annually. As of the fund's most
recent annual reporting period ended April 30, 2005, BTO had over
$875 million in net assets of which 54% was net unrealized
appreciation of investments. For individual taxable accounts,
long-term capital gains are subject to at a maximum Federal tax
rate of 15%. For the 1- year period ending October 31, 2005, BTO
posted an average annual total return at net asset value of 5.31%;
3-year, 16.58%; 5-year, 14.62% and 10-year, 14.15%. John Hancock
Bank and Thrift Opportunity Fund is a diversified, closed-end fund.
The Fund seeks long-term capital appreciation by normally investing
at least 80% of its assets in equity securities of U.S. regional
banks and thrifts and holding companies that primarily own or
receive a substantial portion of their income from regional banks
or thrifts. John Hancock Funds manages more than $34.0 billion in
open-end funds, closed-end funds, private accounts, retirement
plans and related party assets for individual and institutional
investors as of September 30, 2005. Additional information about
the company can be found on the website: http://www.jhfunds.com/.
John Hancock Funds is a wholly owned subsidiary of John Hancock
Financial Services, Inc., a subsidiary of Manulife Financial
Corporation. Founded in 1862, John Hancock Financial Services and
its subsidiaries today offer a broad range of financial products
and services, including whole, term, variable, and universal life
insurance, as well as college savings products, mutual funds, fixed
and variable annuities, long-term care insurance and various forms
of business insurance. Manulife Financial is a leading
Canadian-based financial services group serving millions of
customers in 19 countries and territories worldwide. Operating as
Manulife Financial in Canada and Asia, and primarily through John
Hancock in the United States, the Company offers clients a diverse
range of financial protection products and wealth management
services through its extensive network of employees, agents and
distribution partners. Funds under management by Manulife Financial
and its subsidiaries were Cdn$360 billion (US$310 billion) as of
September 30, 2005. Manulife Financial Corporation trades as 'MFC'
on the TSX, NYSE and PSE, and under '0945' on the SEHK. Manulife
Financial can be found on the Internet at http://www.manulife.com/.
Website: http://www.jhfunds.com http://www.manulife.com DATASOURCE:
John Hancock Bank and Thrift Opportunity Fund CONTACT: Kimberley
Dietrich +1-617-663-4217 or Investors: +1-800-843-0090 both of John
Hancock
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