John Hancock Closed-End Funds Announce Monthly Distribution Details for Investors
On December 2, 2024, John Hancock Investment Management made an important announcement regarding monthly distributions for its closed-end funds. This release serves as a significant update for investors interested in the company’s performance and commitment to returning value to shareholders.
The funds declared their monthly distributions alongside key dates of relevance for investors. The declaration date set for December 2, 2024, marks the official announcement, while the ex-dividend date established as December 12, 2024, is critical for shareholders to note. Investors must hold their shares before this date to qualify for the distribution. The record date aligns with the ex-dividend date, emphasizing its importance in the issuance of payments. Finally, the distributions are set to be paid on December 31, 2024, just in time for the New Year.
The announcement covered various funds, each with its respective payout. Below are the specifics:
Market prices as of November 29, 2024, indicate that the Preferred Income Fund II trades at $17.35, with an annualized current distribution rate of 8.54%. In contrast, the Preferred Income Fund III is trading at $15.76 with a rate of 8.38%, and the Premium Dividend Fund shows a market price of $13.23, yielding 7.48%. The Tax-Advantaged Dividend Income Fund, however, has a higher price of $23.64 with a lower current distribution rate of 7.01%.
The Premium Dividend Fund, under the PDT Plan, has a managed distribution policy where monthly amounts are paid until further notice. These distributions may consist of various components including net investment income, long and short-term capital gains, and possibly return of capital. This highlights the complexity with which these funds manage their distributions, underscoring their commitment to optimize investor returns.
Similarly, the Tax-Advantaged Dividend Income Fund functions under the HTD Plan, distributing $0.1380 per share monthly. Its payouts also mix different sources, ensuring compliance with federal tax obligations. An important note for investors is the stipulation that a portion of these distributions might also represent returns of capital, which are not classified as income from the fund’s activities.
The announcement further clarified that any distributions not derived from net investment income must be communicated to shareholders through notices at payment times. These communications ensure transparency regarding how investors should report their earnings for tax purposes, further emphasizing John Hancock's adherence to regulatory frameworks established by the Investment Company Act of 1940.
Although the terms of both the PDT and HTD Plans may be amended, the current standing signifies a positive outlook for investors. The promise of consistent monthly distributions is reassuring amidst a fluctuating market landscape. Investors are encouraged to stay updated by consulting resources such as the company’s official website for detailed notices about distributions as they are declared.
John Hancock, part of Manulife Financial Corporation, is known for its variety of investment vehicles and seasoned management strategies. They operate through a multimanager approach, providing a blend of in-house expertise and external partnerships which strengthens their investment portfolio across markets. With over a century of financial stewardship, they remain committed to responsible investing and supporting financial well-being through their products and services.
For continuing updates, investors are encouraged to regularly check the John Hancock website at www.jhinvestments.com. Regular updates on fund performances and any changes to investment strategies will be integral to making informed investment decisions.
Monthly Distribution Announcement
The funds declared their monthly distributions alongside key dates of relevance for investors. The declaration date set for December 2, 2024, marks the official announcement, while the ex-dividend date established as December 12, 2024, is critical for shareholders to note. Investors must hold their shares before this date to qualify for the distribution. The record date aligns with the ex-dividend date, emphasizing its importance in the issuance of payments. Finally, the distributions are set to be paid on December 31, 2024, just in time for the New Year.
Distribution Breakdown
The announcement covered various funds, each with its respective payout. Below are the specifics:
- - HPF - Preferred Income Fund II: $0.1235 per share
- - HPS - Preferred Income Fund III: $0.1100 per share
- - PDT - Premium Dividend Fund: $0.0825 per share
- - HTD - Tax-Advantaged Dividend Income Fund: $0.1380 per share
Market prices as of November 29, 2024, indicate that the Preferred Income Fund II trades at $17.35, with an annualized current distribution rate of 8.54%. In contrast, the Preferred Income Fund III is trading at $15.76 with a rate of 8.38%, and the Premium Dividend Fund shows a market price of $13.23, yielding 7.48%. The Tax-Advantaged Dividend Income Fund, however, has a higher price of $23.64 with a lower current distribution rate of 7.01%.
Insight into the Funds
The Premium Dividend Fund, under the PDT Plan, has a managed distribution policy where monthly amounts are paid until further notice. These distributions may consist of various components including net investment income, long and short-term capital gains, and possibly return of capital. This highlights the complexity with which these funds manage their distributions, underscoring their commitment to optimize investor returns.
Similarly, the Tax-Advantaged Dividend Income Fund functions under the HTD Plan, distributing $0.1380 per share monthly. Its payouts also mix different sources, ensuring compliance with federal tax obligations. An important note for investors is the stipulation that a portion of these distributions might also represent returns of capital, which are not classified as income from the fund’s activities.
Regulatory Compliance
The announcement further clarified that any distributions not derived from net investment income must be communicated to shareholders through notices at payment times. These communications ensure transparency regarding how investors should report their earnings for tax purposes, further emphasizing John Hancock's adherence to regulatory frameworks established by the Investment Company Act of 1940.
Future Perspective
Although the terms of both the PDT and HTD Plans may be amended, the current standing signifies a positive outlook for investors. The promise of consistent monthly distributions is reassuring amidst a fluctuating market landscape. Investors are encouraged to stay updated by consulting resources such as the company’s official website for detailed notices about distributions as they are declared.
About John Hancock Investment Management
John Hancock, part of Manulife Financial Corporation, is known for its variety of investment vehicles and seasoned management strategies. They operate through a multimanager approach, providing a blend of in-house expertise and external partnerships which strengthens their investment portfolio across markets. With over a century of financial stewardship, they remain committed to responsible investing and supporting financial well-being through their products and services.
For continuing updates, investors are encouraged to regularly check the John Hancock website at www.jhinvestments.com. Regular updates on fund performances and any changes to investment strategies will be integral to making informed investment decisions.
Topics Financial Services & Investing）
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