BOSTON, Dec. 12, 2019 /PRNewswire/ - John Hancock
Financial Opportunities Fund (NYSE: BTO), John Hancock Hedged
Equity & Income Fund (NYSE: HEQ), John Hancock Income
Securities Trust (NYSE: JHS), John Hancock Investors Trust (NYSE:
JHI), John Hancock Premium Dividend Fund (NYSE: PDT), John Hancock
Tax-Advantaged Dividend Income Fund (NYSE: HTD), and John Hancock
Tax-Advantaged Global Shareholder Yield (NYSE:HTY) (each a
"Fund" and collectively, the "Funds") announced today that the
Board of Trustees has renewed the Funds' share repurchase plans
that are set to expire on December
31, 2019.
The Board of Trustees approved the renewal of the share
repurchase plans as part of its ongoing evaluation of options to
enhance shareholder value and potentially decrease the discount
between the market price and the net asset value per share ("NAV")
of the Funds' common shares. Under the share repurchase
plans, each Fund may purchase, in the open market, between
January 1, 2020 and December 31, 2020, up to an additional 10% of its
outstanding common shares (based on common shares outstanding as of
December 31, 2019). The Board of
Trustees will review the plan periodically and may authorize
adjustment of its terms and size.
The share repurchase plans allow the repurchase of common shares
in the open market at a discount to NAV. The plans could
allow the Funds to realize incremental accretion to their NAV to
the benefit of existing shareholders. They could also have the
benefit of providing additional liquidity in the trading of common
shares.
Year-to-date through November 30,
2019, HTY has repurchased the following number of shares:
[120,934] (or [1.09%] of outstanding shares), contributing to its
NAV by approximately $0.01. Each
other Fund has not repurchased shares for the year-to-date period
through November 30, 2019.
Statements in this press release that are not historical
facts are forward-looking statements as defined by the United States securities laws. You should
exercise caution in interpreting and relying on forward-looking
statements because they are subject to uncertainties and other
factors which are, in some cases, beyond the Fund's control and
could cause actual results to differ materially from those set
forth in the forward-looking statements.
An investor should consider a Fund's investment objectives,
risks, charges and expenses carefully before investing.
About John Hancock and
Manulife Financial
John
Hancock is a division of Manulife Financial Corporation, a
leading international financial services group that helps people
achieve their dreams and aspirations by putting customers' needs
first and providing the right advice and solutions. We operate
primarily as John Hancock in
the United States and as Manulife
elsewhere. We provide financial advice, insurance, and wealth and
asset management solutions for individuals, groups, and
institutions. Assets under management and administration by
Manulife and its subsidiaries were over CAD$1.1 trillion (US$877
billion) as of June 30, 2019.
Manulife Financial Corporation trades as MFC on the TSX, NYSE, and
PSE, and under 945 on the SEHK. Manulife can be found at
manulife.com.
One of the largest life insurers in the United States, John Hancock supports approximately 10 million
Americans with a broad range of financial products, including life
insurance, annuities, investments, 401(k) plans, and education
savings plans. Additional information about John Hancock may be found at
johnhancock.com.
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SOURCE John Hancock Investment Management