By a News Reporter-Staff News Editor at Insurance Weekly News -- John Hancock Premium Dividend Fund (NYSE: PDT) (the "Fund"), a closed-end fund managed by John Hancock Advisers, LLC , announced that its Board of Trustees has approved a share repurchase plan. The Board of Trustees approved a share repurchase plan 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 ("NAV") of the Fund's common shares. Pursuant to the share repurchase plan, the Fund may purchase in the open market, between December 19, 2013 and December 31, 2014 , up to 10% of its outstanding common shares (a total of 5,000,845 shares based on common shares outstanding as of November 30, 2013 of 50,008,453) The share repurchase 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 Fund's repurchase activity will be disclosed in its shareholder report for the relevant fiscal period. There is no assurance that the market price of the Fund's shares, either absolutely or relative to NAV, will increase as a result of any share repurchases, or that the plan will enhance shareholder value over the long-term. Keywords for this news article include: Insurance Companies, John Hancock Investments. Our reports deliver fact-based news of research and discoveries from around the world. Copyright 2014, NewsRx LLC
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