The plans could allow the Funds to realize incremental accretion to their NAV to the benefit of existing shareholders. The share repurchase plans allow the repurchase of common shares in the open market at a discount to NAV. The Board of Trustees will review the plan periodically and may authorize adjustment of its terms and size. Under the share repurchase plans, each Fund may purchase, in the open market, between Januand December 31, 2022, up to an additional 10% of its outstanding common shares (based on common shares outstanding as of December 31, 2021).
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. 9, 2021 /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.
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