JOHN HANCOCK HEDGED EQUITY & INCOME FUND ANNOUNCES AMENDMENT TO MANAGED DISTRIBUTION PLAN AND DECLARES DECREASED QUARTERLY DISTRIBUTION
Under the Plan, the Fund will make quarterly distributions of an amount equal to
Pursuant to its Plan, the Fund declared its quarterly distribution today as follows:
Declaration Date: June 30, 2023
Ex Date: September 08, 2023
Record Date: September 11, 2023
Payment Date: September 29, 2023
This new distribution amount equates to an annualized distribution rate of
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
An investor should consider the Fund's investment objectives, risks, charges and expenses carefully before investing.
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.
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
View original content:https://www.prnewswire.com/news-releases/john-hancock-hedged-equity--income-fund-announces-amendment-to-managed-distribution-plan-and-declares-decreased-quarterly-distribution-301868399.html
SOURCE John Hancock Investment Management