BOSTON, Dec. 12,
2024 /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.
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, 2025, and December 31, 2025, up to an additional 10% of its
outstanding common shares (based on common shares outstanding as of
December 31, 2024). 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 October 31,
2024, HEQ has repurchased the following number of shares:
57,490 or 0.48% 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
October 31, 2024.
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 Investment Management
A company of Manulife Investment Management, we serve investors
through a unique multimanager approach, complementing our extensive
in-house capabilities with an unrivaled network of specialized
asset managers, backed by some of the most rigorous investment
oversight in the industry. The result is a diverse lineup of
time-tested investments from a premier asset manager with a
heritage of financial stewardship.
About Manulife Investment Management
Manulife Investment Management is the global brand for the
global wealth and asset management segment of Manulife Financial
Corporation. We draw on more than a century of financial
stewardship and the full resources of our parent company to serve
individuals, institutions, and retirement plan members worldwide.
Headquartered in Toronto, our
leading capabilities in public and private markets are strengthened
by an investment footprint that spans 18 geographies. We complement
these capabilities by providing access to a network of unaffiliated
asset managers from around the world. We're committed to investing
responsibly across our businesses. We develop innovative global
frameworks for sustainable investing, collaboratively engage with
companies in our securities portfolios, and maintain a high
standard of stewardship where we own and operate assets, and we
believe in supporting financial well-being through our workplace
retirement plans. Today, plan sponsors around the world rely on our
retirement plan administration and investment expertise to help
their employees plan for, save for, and live a better retirement.
Not all offerings are available in all jurisdictions. For
additional information, please visit manulifeim.com.
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SOURCE John Hancock Investment Management