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John Hancock Preferred Income Fund Announces Monthly Distribution

On December 20, 2024, the John Hancock closed-end Preferred Income Fund made a significant announcement regarding its monthly distribution. This declaration is crucial for investors and stakeholders, as it underscores the fund's financial health and operational transparency.

Key Distribution Dates

• - Declaration Date: December 20, 2024
• - Ex Date: December 30, 2024
• - Record Date: December 30, 2024
• - Payment Date: January 31, 2025

The Preferred Income Fund is set to distribute $0.1235 per share. As of the market price on December 19, 2024, which stands at $16.43, this distribution corresponds to an annualized current distribution rate of 9.02%.

This distribution announcement is not just a standard operational procedure, but it has also been necessitated by the need to comply with the 2024 distribution requirements for federal excise tax purposes. It indicates the fund's proactive approach in ensuring that it adheres to regulatory standards while also managing shareholder expectations effectively.

Distribution Sources

It's important for investors to note that a part of the fund's current distribution may derive from sources outside of net investment income. This includes potential returns of capital. A return of capital should not be viewed as a distribution rooted in income or gains generated by the fund—investors need to distinguish between these components to understand their returns fully.

As mandated by the Investment Company Act of 1940, shareholders will receive a notice detailing the estimated components of the distribution at the time of payment, should it not consist exclusively of net investment income. Moreover, this notice will be available on the fund's website, giving investors further transparency regarding their investments.

For tax reporting, after the end of each calendar year, investors can expect a Form 1099-DIV summarizing how to report distributions received throughout the year for federal income tax purposes. This highlights the importance of keeping accurate records when dealing with investment returns, especially those involving varied sources.

Forward-Looking Statements

As with all financial announcements, caution is advised when interpreting the information provided. Statements included in the press release that do not pertain to historical facts can be considered forward-looking and subject to risks and uncertainties that may result in actual outcomes differing materially from those anticipated. Investors are encouraged to consider the fund's investment objectives, associated risks, and costs before making investment decisions.

About John Hancock Investment Management

John Hancock Investment Management operates under the umbrella of Manulife Investment Management. The firm serves investors with a unique multimanager approach, combining internal capabilities with a well-established network of specialized asset managers. This strategy culminates in a diverse range of reliable investments, drawing from a long-standing tradition of financial stewardship.

The focus on sustainable investing continues to guide John Hancock’s operations, as it aims to create positive change within its investments while supporting the financial well-being of its clients. With a robust historical background and a commitment to excellence, John Hancock remains a prominent player in the investment field, providing services to individuals and institutions across the globe.

Conclusion

In conclusion, the recent distribution announcement by the John Hancock Preferred Income Fund is an important milestone for investors. It reflects the fund's commitment to maintain transparency and regulatory compliance while ensuring that investors are kept well-informed about their financial positions. As the fund looks toward regular distributions in the coming year, stakeholders can remain confident in the management's strategic approach to investments.