BOSTON, March 24,
2022 /PRNewswire/ - John Hancock Financial
Opportunities Fund (NYSE: BTO) (the "Fund"), a closed-end fund
managed by John Hancock Investment Management LLC (the "Adviser")
and subadvised by Manulife Investment Management (US) LLC (the
"Subadviser"), announced today that its Board of Trustees voted to
amend its current managed distribution plan (the "Plan"),
increasing the amount of its quarterly distribution by 18
percent.
Under the Plan, the Fund will make quarterly distributions of an
amount equal to $0.65 per share, an
increase over the previous quarterly distribution of $0.55 per share. This new amount will be paid
quarterly until further notice.
Pursuant to its Plan, the Fund declared its quarterly
distribution today as follows:
Declaration
Date: March 24, 2022
Ex Date:
June 10, 2022
Record Date:
June 13, 2022
Payment Date:
June 30, 2022
Distribution Amount: $0.65
This new distribution amount equates to an annualized
distribution rate of 6.71% based on the Fund's NAV of $38.74 and 5.97% based on the closing share price
of $43.55 as of March 23, 2022.
Distributions under the Plan may consist of net investment
income, net realized long-term capital gains, net realized
short-term capital gains and, to the extent necessary, return of
capital. The Fund intends to fund its distributions, to the extent
appropriate, through the realization of long-term capital gains
when the distribution amount exceeds net investment income. The
Fund will seek to realize capital gains for this purpose in a
manner which the Adviser and Subadviser believe is consistent with
prudent portfolio management and the investment objective, policies
and guidelines of the Fund. The estimated character of each
distribution is disclosed to shareholders with each distribution
notice.
The Fund may also make additional distributions (i) for purposes
of not incurring federal income tax on investment company taxable
income and net capital gain of the Fund, if any, not included in
such regular distributions and (ii) for purposes of not incurring
federal excise tax on ordinary income and capital gain net income,
if any, not included in such regular quarterly distributions. You
should not draw any conclusions about the Fund's investment
performance from the amount of the Fund's distributions or from the
terms of the Plan.
Although the Fund has adopted the Plan, it may discontinue the
Plan. The Board of Trustees of the Fund may amend the terms of the
Plan or terminate the Plan at any time without prior notice to the
Fund's shareholders. The Plan will be subject to periodic review by
the Fund's Board of Trustees.
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 the Fund's investment objectives,
risks, charges and expenses carefully before investing.
About John Hancock Investment Management
A
company of Manulife Investment Management, we serve
investors through a unique multimanager approach,
complementing our extensive in-house capabilities with an unrivaled
network of specialized asset managers, backed by some of the most
rigorous investment oversight in the industry. The result is a
diverse lineup of time-tested investments from a premier asset
manager with a heritage of financial stewardship.
About Manulife Investment Management
Manulife
Investment Management is the global brand for the global
wealth and asset management segment of Manulife
Financial Corporation. We draw on more than a century of
financial stewardship and the full resources of our parent company
to serve individuals, institutions, and retirement plan members
worldwide. Headquartered in Toronto, our leading capabilities in public
and private markets are strengthened by an investment footprint
that spans 18 geographies. We complement these capabilities by
providing access to a network of unaffiliated asset managers from
around the world. We're committed to investing responsibly across
our businesses. We develop innovative global frameworks for
sustainable investing, collaboratively engage with companies in our
securities portfolios, and maintain a high standard of stewardship
where we own and operate assets, and we believe in supporting
financial well-being through our workplace retirement plans. Today,
plan sponsors around the world rely on our retirement plan
administration and investment expertise to help their employees
plan for, save for, and live a better retirement. Not all offerings
are available in all jurisdictions. For additional information,
please visit manulifeim.com.
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SOURCE John Hancock Investment Management