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John Hancock Funds Renew Share Repurchase Plans

On December 11, 2025, John Hancock Investment Management made a significant announcement regarding the renewal of share repurchase plans for several of its closed-end funds. This proactive approach by the Board of Trustees aims to improve shareholder value and address the persistent discount between the market price and the net asset value (NAV) of the Funds' common shares.

Background of the Funds

The funds involved in this renewal include the John Hancock Financial Opportunities Fund (NYSE: BTO), John Hancock Diversified 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 of these funds represents a unique avenue for investors seeking income and growth opportunities in today’s market.

Key Details of the Renewal

Beginning January 1, 2026, each fund may repurchase up to an additional 10% of its outstanding common shares through open market transactions. This opportunity is set to continue until December 31, 2026, and is based on the number of common shares outstanding as of December 31, 2025. The Board of Trustees has expressed its commitment to reviewing the effectiveness of the plan periodically, which may lead to adjustments in its terms and size.

The renewed share repurchase plans are designed to allow the funds to buy back their common shares at a discount to their NAV. This strategy not only provides immediate benefits to existing shareholders by potentially increasing the NAV but also aims to enhance liquidity in the trading of these shares. With a focus on maximizing shareholder interest, the funds foresee possible accretion in asset value through these strategic repurchases.

Shareholder Impact

As for year-to-date performance, the John Hancock Diversified Income Fund (HEQ) has already repurchased approximately 34,900 shares, amounting to about 0.29% of its outstanding shares. This action has contributed a modest increase of around $0.004 to its NAV as reported by December 11, 2025. Notably, no other funds under this renewal have executed any share repurchases year-to-date, highlighting HEQ's proactive stance.

Forward-Looking Statements

It is important to note that any statements pertaining to the future actions of the funds are considered forward-looking statements as defined by United States securities laws. Investors are encouraged to exercise caution when interpreting these statements as the outcomes may vary depending on various factors beyond the funds' control. Thus, thorough consideration of each fund’s investment objectives, risks, charges, and expenses is recommended before making investment decisions.

About John Hancock and Manulife Investment Management

John Hancock Investment Management operates under the umbrella of Manulife Investment Management, which emphasizes a multi-manager approach to investments. This strategy combines in-house expertise with a diverse range of external specialized asset managers. Operating from its headquarters in Toronto, Manulife leverages over a century of financial stewardship to serve individuals and institutions across the globe. The corporation is committed to sustainable investing and elevating the financial well-being of its clients, particularly through its workplace retirement plans.

Conclusion

The renewal of share repurchase plans by John Hancock funds signifies a dedicated effort to enhance shareholder value amid fluctuating market conditions. It reflects a strategic intersection of commitment to investor interests and tactical financial management designed to capitalize on market opportunities.