JOHN HANCOCK FINANCIAL OPPORTUNITIES FUND John Hancock Financial Opportunities Fund (NYSE:BTO) announces a share repurchase program. Under the program, the company will repurchase up to 10% of its outstanding common shares. The share repurchase plan seeks to enhance shareholder value and to potentially narrow the Fund's discount to NAV.
The plan allows the Fund to acquire its own shares in the open market at a discount to NAV, which is intended to increase the NAV per share. It could also have the benefit of providing additional liquidity in the trading of common shares. There is no assurance that the Fund will purchase shares at any specific discount levels or in any specific amounts.
The program will commence from January 1, 2015 and will expire on December 31, 2015.
