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Overview of John Hancock Premium Dividend Fund's Distribution Sources

On November 29, 2024, the John Hancock Premium Dividend Fund (NYSE: PDT), managed by John Hancock Investment Management LLC and subadvised by Manulife Investment Management (US) LLC, announced its monthly distribution details to shareholders. The fund has declared a distribution of $0.0825 per common share, which will be paid to all shareholders who were on record by November 12, 2024. This distribution is part of the Fund's managed distribution plan.

Significant Distribution Announcement

The fund's announcement comes as part of a regular communication to its investors following a requirement set by an exemptive order from the U.S. Securities and Exchange Commission. Shareholders were informed that no action is needed from them regarding this announcement.

Distribution Period and Updates

The effective distribution period for this payment is November 2024. The details regarding the distribution amount serve to keep shareholders informed about the fund’s financial performance and distribution strategy throughout the fiscal year, which runs from November 1, 2024, to October 31, 2025.

Breakdown of the Distribution Sources

The estimated breakdown of sources contributing to the current distribution of $0.0825 per share reveals:
1. Net Investment Income: Contributing $0.0672, which forms 81% of the current distribution.
2. Net Realized Short-Term Capital Gains: Contributing $0.0038, making up 5% of the total.
3. Net Realized Long-Term Capital Gains: Accounting for $0.0115 at 14% of the distribution.
4. Return of Capital or Other Capital Source: No contribution to this distribution.

This breakdown is provided to ensure transparency and helps shareholders understand where their earnings come from. For the fiscal year to date, the cumulative distribution details reiterate the same sources, showcasing the fund's consistent performance.

Performance Metrics

In terms of performance, the fund has recorded an average annual total return of 5.76% over the past five years, which indicates a robust return on investment compared to traditional savings methods. Furthermore, the annualized current distribution rate stands at 7.28% as of October 31, 2024.

Important Reminders for Shareholders

Investors should note that the amounts and sources of distributions reported are merely estimates. They are not intended for tax reporting purposes. Accurate tax-related reporting will rely on the fund's investment performance throughout the rest of the fiscal year, which may be subject to change according to tax regulations. Shareholders will receive a Form 1099-DIV for the calendar year to guide them in tax reporting.

As stated in the fund's managed distribution plan, fixed monthly distributions of $0.0825 per share will continue until further notice. Should shareholders have any queries, they are encouraged to reach out directly to their financial advisors or contact the John Hancock Investment Management Closed-End Fund Information Line at 1-800-843-0090 during business hours.

About John Hancock and Manulife Investment Management

John Hancock Investment Management operates under the umbrella of Manulife Financial Corporation, which has an established heritage of financial stewardship spanning more than a century. Their approach integrates a unique multi-manager strategy that links extensive in-house investment capabilities with a network of specialized asset managers, delivering diverse and robust investment solutions.

With a focus on sustainability and responsible investing, Manulife Investment Management is dedicated to enhancing financial wellbeing for individuals and organizations through various financial products and services, particularly in retirement planning.