John Hancock Hedged Equity & Income Fund (NYSE:HEQ) announces a share repurchase program. Under the program, the company will repurchase up to 10% of its issued share capital. The fund will acquire its own shares in the open market at a discount to NAV. The plan has been approved as part of company’s ongoing evaluation of options to enhance shareholder value and potentially decrease the discount between the market price and the net asset value of the fund's common shares. 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, 2017 and will expire on December 31, 2017.