John Hancock's Preferred Income Fund Announces Monthly Distribution for December 2024
On December 2, 2024, the John Hancock closed-end Preferred Income Fund officially declared its monthly distribution, a key event for investors monitoring financial returns. The announcement outlined crucial dates for shareholders, including the declaration date of December 2, the ex-dividend date of December 12, and the record date also set on December 12. Finally, the payment date is scheduled for December 19, 2024.
The distribution amount per share for this month has been set at $0.1235. As per the latest market data, the fund's market price as of November 29, 2024, was recorded at $17.65. With this pricing, the annualized current distribution rate stands at 8.40%, providing a stable yield for investors looking for income-producing investments amid today's market conditions.
It is important for investors to comprehend that a part of the current distribution may originate from sources beyond net investment income, one of which can include a return of capital. The distinction is crucial as returns of capital are not derived from the income or gains of the fund but rather represent a return of contributions to the investment. Therefore, shareholders are advised to take note of this when conducting their financial planning.
Under the stipulations of the Investment Company Act of 1940, shareholders will receive a notice regarding the estimated components of the distribution, particularly if it does not consist solely of net investment income. This notice will be disseminated at the time of payment and will also be accessible online through the fund's website at www.jhinvestments.com. Notably, these estimates should not be utilized for tax returns, as they may vary from the ultimate classification of distributions relating to federal income tax.
As part of the ongoing commitment to transparency, investors will be provided with IRS Form 1099-DIV at the end of each calendar year, detailing the appropriate reporting methods for distributions received within that tax year.
From a broader perspective, it is essential for potential investors to carefully consider the investment objectives, risks, costs, and expenses attached to the fund before diving into the investment. Statements that appear in press releases, particularly those not directly referencing historical facts, are classified as forward-looking statements according to U.S. securities laws. Investors are encouraged to practice caution when interpreting these statements, as certain factors beyond the control of the fund could lead to discrepancies between projected outcomes and actual results.
John Hancock Investment Management, part of the Manulife Investment Management family, adopts a unique multi-manager approach, merging extensive in-house capabilities with a comprehensive network of specialized asset management firms. This structure ensures that a diverse range of well-established investments is available to cater to the financial needs of numerous investors.
With over a hundred years of legacy in financial stewardship, Manulife Investment Management serves individuals, institutions, and retirement plan members globally from its headquarters in Toronto. Their significant reach across 18 markets worldwide, combined with robust capabilities in both public and private markets, positions them as a leader in responsible investing practices. The organization remains dedicated to developing sustainable investment frameworks, fostering collaboration with companies within their portfolios, and enhancing employee financial well-being through workplace retirement strategies.
In summary, the recent announcement of the monthly distribution by the John Hancock Preferred Income Fund is a significant occurrence for its stakeholders, reflecting the performance of the fund while underscoring the importance of informed investment strategies and responsible financial management.
The distribution amount per share for this month has been set at $0.1235. As per the latest market data, the fund's market price as of November 29, 2024, was recorded at $17.65. With this pricing, the annualized current distribution rate stands at 8.40%, providing a stable yield for investors looking for income-producing investments amid today's market conditions.
It is important for investors to comprehend that a part of the current distribution may originate from sources beyond net investment income, one of which can include a return of capital. The distinction is crucial as returns of capital are not derived from the income or gains of the fund but rather represent a return of contributions to the investment. Therefore, shareholders are advised to take note of this when conducting their financial planning.
Under the stipulations of the Investment Company Act of 1940, shareholders will receive a notice regarding the estimated components of the distribution, particularly if it does not consist solely of net investment income. This notice will be disseminated at the time of payment and will also be accessible online through the fund's website at www.jhinvestments.com. Notably, these estimates should not be utilized for tax returns, as they may vary from the ultimate classification of distributions relating to federal income tax.
As part of the ongoing commitment to transparency, investors will be provided with IRS Form 1099-DIV at the end of each calendar year, detailing the appropriate reporting methods for distributions received within that tax year.
From a broader perspective, it is essential for potential investors to carefully consider the investment objectives, risks, costs, and expenses attached to the fund before diving into the investment. Statements that appear in press releases, particularly those not directly referencing historical facts, are classified as forward-looking statements according to U.S. securities laws. Investors are encouraged to practice caution when interpreting these statements, as certain factors beyond the control of the fund could lead to discrepancies between projected outcomes and actual results.
John Hancock Investment Management, part of the Manulife Investment Management family, adopts a unique multi-manager approach, merging extensive in-house capabilities with a comprehensive network of specialized asset management firms. This structure ensures that a diverse range of well-established investments is available to cater to the financial needs of numerous investors.
With over a hundred years of legacy in financial stewardship, Manulife Investment Management serves individuals, institutions, and retirement plan members globally from its headquarters in Toronto. Their significant reach across 18 markets worldwide, combined with robust capabilities in both public and private markets, positions them as a leader in responsible investing practices. The organization remains dedicated to developing sustainable investment frameworks, fostering collaboration with companies within their portfolios, and enhancing employee financial well-being through workplace retirement strategies.
In summary, the recent announcement of the monthly distribution by the John Hancock Preferred Income Fund is a significant occurrence for its stakeholders, reflecting the performance of the fund while underscoring the importance of informed investment strategies and responsible financial management.
Topics Financial Services & Investing）
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