BOSTON, Dec. 14, 2017 /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), and
John Hancock Tax-Advantaged Dividend Income Fund (NYSE: HTD) (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,
2017.
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, 2018 and December 31, 2018, up to an additional 10% of its
outstanding common shares (based on common shares outstanding as of
December 31, 2017).
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,
2017, the Funds have not repurchased shares. There is
no assurance that the Funds will purchase shares at any specific
discount levels or in any specific amounts. Each Fund's repurchase
activities will be disclosed in its shareholder report for the
relevant fiscal period. There is no assurance that the market price
of the Funds' shares, either on an absolute or relative basis to
NAV, will increase as a result of any share repurchases, or that
the share repurchase plans will enhance shareholder value over the
long-term.
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 Investments
John Hancock
Investments provides asset management services to individuals and
institutions through a unique manager-of-managers approach. A
wealth management business of John Hancock Financial, we managed
more than $148 billion in assets as
of September 30, 2017, across mutual
funds, college savings plans, and retirement plans.
About John Hancock Financial and Manulife Financial
John Hancock Financial is a division of Manulife Financial, a
leading Canada-based financial
services group with principal operations in Asia, Canada
and the United States. Operating
as Manulife Financial in Canada
and Asia, and primarily as 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
C$1trillion (US$780 billion) as of June
30, 2017. Manulife Financial Corporation trades as 'MFC' on
the TSX, NYSE and PSE, and under '945' on the SEHK. Manulife
Financial can be found on the Internet at manulife.com.
The John Hancock unit, through its insurance companies,
comprises one of the largest life insurers in the United States. John Hancock offers and administers a broad range
of financial products, including life insurance, annuities, fixed
products, mutual funds, 401(k) plans, long-term care insurance,
college savings, and other forms of business insurance. Additional
information about John Hancock may be found at johnhancock.com.
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SOURCE John Hancock Investments