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Manulife Financial Corp
Symbol MFC
Shares Issued 1,863,894,528
Close 2014-12-17 C$ 21.72
Market Cap C$ 40,483,789,148
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Manulife Financial's JH Tax-Advantaged renews buyback

2014-12-17 21:16 ET - News Release

An anonymous director of John Hancock reports

JOHN HANCOCK TAX-ADVANTAGED DIVIDEND INCOME FUND RENEWS SHARE REPURCHASE PLAN

The board of trustees of Manulife Financial Corp.'s John Hancock Tax-Advantaged Dividend Income Fund, a closed-end fund managed by John Hancock Advisers LLC, has renewed the fund's share repurchase plan that is set to expire on Dec. 31, 2014. The board of trustees approved the renewal of the share repurchase plan as part of its continuing 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. Pursuant to the share repurchase plan, the fund may purchase in the open market, between Jan. 1, 2015, and Dec. 31, 2015, up to an additional 10 per cent of its outstanding common shares (based on common shares outstanding as of Dec. 31, 2014).

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 potentially increase the NAV per share. It could also have the benefit of providing additional liquidity in the trading of common shares. The fund has been repurchasing shares in 2014 to seek to enhance shareholder value, and year to date through Nov. 30, 2014, the fund has repurchased 229,167 shares, or 0.61 per cent of total outstanding shares. During this period, the share repurchases have contributed to the fund's NAV by approximately 1.4 cents per share. 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.

About John Hancock Investments

John Hancock Investments provides asset management services to individuals and institutions through a unique manager-of-managers approach. A wealth management business of John Hancock Financial, it managed $123-billion in assets as of Sept. 30, 2014, across mutual funds, college savings plans and retirement plans.

About John Hancock Financial and Manulife Financial

John Hancock Financial is a division of Manulife Financial.

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