Published:
Patriot Premium Dividend Fund II (NYSE: PDT) Announces Results of Tender Determination
BOSTON, July 18 /PRNewswire/ -- John Hancock Patriot Premium Dividend Fund
II (NYSE: PDT) (the "Fund"), announced today the results of the tender
determination for the period ended June 27, 2008. The Fund's Board of Trustees
had previously authorized a semi-annual series tender offer program. In the
event that common shares of the Fund have traded at an average daily discount
to net asset value (NAV) of greater than 10% for a 12-week measurement period
(occurring in the second and fourth quarters), the Fund, under normal
circumstances, will make offers to purchase up to 5% of the Fund's total
outstanding common shares at 98% of NAV. For the tender determination period
ended June 27, 2008, the Fund traded at an average discount to net asset value
of 14.10%. Consequently, the Fund will commence a tender offer in the third
quarter of 2008 for up to 5% of outstanding shares at a price equal to 98% of
the Fund's NAV as determined at the close of the regular trading session of
the NYSE on the date the tender offer expires. Additional information about
the dates and terms of the tender offer will be released by subsequent press
releases.
This announcement is not an offer to purchase nor a solicitation of an
offer to sell shares of John Hancock Patriot Premium Dividend Fund II. Offers
will be made only by Offers to Purchase and the related Letters of
Transmittal. The Offers to Purchase and the related Letters of Transmittal
when available should be read by shareholders because they will contain
important information. Shareholders may obtain free of charge, when available,
the Offers to Purchase and Letters of Transmittal from the web site
(www.sec.gov) of the Securities and Exchange Commission, or from Mellon
Investor Services, the Fund's shareholder servicing agent, at 1-800-852-0218.
The Fund is a diversified closed-end management investment company. The
Fund seeks to provide a high level of current income consistent with modest
growth of capital for holders of its common shares of beneficial interest. The
Fund will pursue its investment objective by investing in a diversified
portfolio of dividend-paying preferred and common stocks. The Fund is advised
by John Hancock Advisers, LLC, a wholly owned subsidiary of John Hancock
Financial Services.
About Manulife Financial and John Hancock
TheBoston-based mutual fund business unit of John Hancock Financial
Services, John Hancock Funds manages more than $54.1 billion in open-end
funds, closed-end funds, private accounts, retirement plans and related party
assets for individual and institutional investors at March 31, 2008. John
Hancock Funds are distributed by John Hancock Funds, LLC, member FINRA. For
more information, please visit www.jhfunds.com.
John Hancock is a unit of Manulife Financial Corporation, a leading
Canadian-based financial services group serving millions of customers in 19
countries and territories worldwide. Operating as Manulife Financial inCanada
andAsia, and primarily through John Hancock inthe United States, the Company
offers clients a diverse range of financial protection products and wealth
management services through its extensive network of employees, agents and
distribution partners. Funds under management by Manulife Financial and its
subsidiaries were Cdn$400 billion (US$389 billion) as of March 31, 2008.
Manulife Financial Corporation trades as 'MFC' on the TSX, NYSE and PSE, and
under '0945' on the SEHK.
Manulife Financial can be found on the Internet at www.manulife.com.
The performance data contained within this press release represents past
performance, which does not guarantee future results. Performance, especially
for short time periods, should not be the sole factor in making your
investment decision. Statements in this press release that are not historical
facts are forward-looking statements as defined byUnited 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.
SOURCE John Hancock Funds
Copyright © 2008, PRNewswire
Copyright © 2008, NewsBlaze,
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