BOSTON, Dec. 8, 2016 /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,
2016.
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, 2017 and December 31, 2017, up to an additional 10% of its
outstanding common shares (based on common shares outstanding as of December 31, 2016).
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, 2016, the Funds have repurchased the following amount of
shares: HEQ repurchased 312,533 shares (or 2.50% of the outstanding shares), contributing to its NAV by approximately
$0.05; JHI repurchased 84,400 shares (or 0.96% of outstanding shares), contributing to its NAV by
approximately $0.02; HTD repurchased 326,200 shares (or 0.91% of the outstanding shares),
contributing to its NAV by approximately $0.02; BTO repurchased 10,000 shares (or 0.05% of the
outstanding shares) and PDT repurchased 105,700 shares (or 0.22% of the outstanding shares). The repurchases made by BTO and PDT
had no impact on their NAV. JHS did not repurchase any shares for the year-to-date period through November 30, 2016.
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 absolutely or relative 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 $136 billion in assets as of September 30, 2016, 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$966 billion (US$736
billion) as of September 30, 2016. 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