BOSTON--(BUSINESS WIRE)--Amundi Pioneer Asset Management today announced the declaration of dividends for five Pioneer closed-end funds for November 2019.
Ex Date: |
November 18, 2019 |
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Record Date: |
November 19, 2019 |
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Payable: |
November 29, 2019 |
Ticker |
Taxable Funds |
Distribution Per Share |
Change From Previous Month |
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HNW* |
Pioneer Diversified High Income Trust |
$0.0950 |
- |
|||
PHD |
Pioneer Floating Rate Trust |
$0.0625 |
- |
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PHT |
Pioneer High Income Trust |
$0.0675 |
- |
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|
|
|
|
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Ticker |
Tax-Exempt Funds |
Distribution Per Share |
Change From Previous Month |
|||
MAV |
Pioneer Municipal High Income Advantage Trust |
$0.0375 |
- |
|||
MHI** |
Pioneer Municipal High Income Trust |
$0.0450 |
-$0.0025 |
|
Market Price |
Market Price Distribution Rate |
NAV |
NAV Distribution Rate |
||||
Pioneer Diversified High Income Trust |
$14.87 |
7.67% |
$16.04 |
7.11% |
||||
Pioneer Floating Rate Trust |
$10.48 |
7.16% |
$11.85 |
6.33% |
||||
Pioneer High Income Trust |
$9.40 |
8.62% |
$10.02 |
8.08% |
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Pioneer Municipal High Income Advantage Trust |
$10.72 |
4.20% |
$11.98 |
3.76% |
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Pioneer Municipal High Income Trust |
$12.06 |
4.48% |
$12.95 |
4.17% |
*HNW currently has a level distribution policy, which is intended to provide investors with a relatively stable monthly distribution. The level distribution policy is subject to regular review by the Board of Trustees to determine whether it continues to be in the best interests of the fund and its shareholders. There can be no assurance that this policy will be maintained in the future or maintained at its current level. Investors should not necessarily draw any conclusions about the fund's investment performance from the amount of this distribution or from the terms of the fund's level distribution policy. If the fund estimates that any portion of a distribution may be comprised of amounts from sources other than net investment income, then the fund will notify shareholders of the estimated composition of the distribution through a separate written Section 19(a) Notice. Section 19(a) Notices are provided for informational purposes only, and should not be used for tax reporting purposes. Final tax characteristics of all fund distributions will be provided on Form 1099-DIV, which is mailed after the close of the calendar year.
**MHI’s November per share distribution of $0.0450 represents a 5.3% decrease from the $0.0475 per share distribution paid in October. The decrease was due primarily to reduced yields in the municipal bond market. The fund’s maturing and callable securities were generally replaced with new securities with lower yields, reducing the fund’s income. This change better aligns the fund’s distribution rate with its current and projected level of earnings and reserves.
The closing market price and NAV are based on data as of November 4, 2019. The Market Price Distribution Rate is calculated by dividing the latest declared monthly distribution per share (annualized) by the market price. The NAV Distribution Rate is calculated by dividing the latest declared monthly distribution per share (annualized) by the NAV per share.
The funds are closed-end investment companies. Four of these funds trade on the New York Stock Exchange (NYSE) under the following symbols: MHI, MAV, PHT, and PHD. HNW trades on the NYSEAMER.
Keep in mind, distribution rates are not guaranteed. A fund’s distribution rate may be affected by numerous factors, including changes in actual or projected investment income, the level of undistributed net investment income, if any, and other factors. Shareholders should not draw any conclusions about a fund’s investment performance based on a fund’s current distributions. Closed-end funds, unlike open-end funds, are not continuously offered. Once issued, common shares of closed-end funds are bought and sold in the open market through a stock exchange and frequently trade at prices lower than their net asset value. Net Asset Value (NAV) is total assets less total liabilities divided by the number of common shares outstanding. For performance data on Amundi Pioneer's closed-end funds, please call 800-225-6292 or visit our closed-end pricing page.
About Amundi Pioneer Asset Management
Amundi Pioneer is the U.S. business of Amundi, Europe’s largest asset manager by assets under management and ranked among the ten largest globally[1]. Boston is one of Amundi’s six main global investment hubs and offers a broad range of fixed-income, equity, and multi-asset investment solutions in close partnership with wealth management firms, distribution platforms, and institutional investors across the Americas, Europe, and Asia-Pacific. Our long history of proprietary research, robust risk management, disciplined investment processes, and strong client relationships have made Amundi Pioneer an investment advisor of choice among leading institutional and individual investors worldwide. Amundi Pioneer had approximately $86 billion in assets under management as of September 30, 2019.
[1] Source IPE “Top 400 asset managers” published in June 2019 and based on AUM as of end December 2018.
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© 2019 Amundi Pioneer Asset Management
