Pioneer Investments Declares Monthly Distributions for Closed-End Funds
05 August 2009 - 7:06AM
Business Wire
Pioneer Investments today announced the declaration of dividends
for five closed-end funds for August 2009. The closing market
price, annualized distribution rate and NAV distribution rate are
based on data as of August 3, 2009.
Ex Date: August 12, 2009 Record Date:
August 14, 2009 Payable Date: August 31, 2009
Fund
Distribution
Market
Market Price
NAV
NAV
Price
Distribution
Distribution
Rate
Rate
Taxable
Pioneer High Income Trust (NYSE: PHT) $0.1375 $11.75 14.04% $10.55
15.64%
Pioneer Floating Rate Trust (NYSE:
PHD) (a)
$0.0850 $10.29 9.91% $10.71 9.52% Pioneer Diversified High Income
Trust (NYSE Amex: HNW) (b) (c) $0.1600 $17.18 11.18% $16.89 11.37%
Tax-Exempt
Pioneer Municipal High Income Trust (NYSE: MHI) $0.0750 $11.92
7.55% $11.78 7.64% Pioneer Municipal High Income Advantage Trust
(NYSE: MAV) $0.0750 $10.83 8.31% $10.11 8.90%
Taxable-Equivalent
Taxable-Equivalent
Distribution Rate
Distribution Rate
at Market Price
at NAV
Pioneer Municipal High Income Trust (NYSE: MHI) 11.62%
11.75% Pioneer Municipal High Income Advantage Trust (NYSE: MAV)
12.78% 13.69%
Taxable-Equivalent Distribution Rate is computed using the
maximum federal tax rate.
(a) PHD’s August distribution represents a decrease of
approximately 10.5% compared to the fund’s July distribution of
$0.0950 per share. This decrease is primarily due to declining
yields on floating rate securities and increased defaults. (b)
HNW’s August distribution represents a 15.7% decline from the July
distribution. This decrease is primarily due to declining yields on
floating rate securities. Approximately 50% of the fund’s assets
were tied to floating rate securities on June 30, 2009. (c)At this
time HNW believes that a portion of this distribution may include a
return of capital in addition to net investment income and
long-term capital gains. A return of capital is not a distribution
of income or capital gains from the fund, does not necessarily
reflect the fund's investment performance, and should not be
considered "yield" or "income." Further information on the
composition of the distribution will be made available on the
payment date and will be available at pioneerinvestments.com. The
final determination of tax characteristics of the fund’s
distributions will occur after the end of the year, at which time
it will be reported to shareholders.
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 NYSE
Amex. Pioneer Investment Management, Inc. is each fund’s investment
adviser.
Keep in mind, dividends are not guaranteed. Closed end funds,
unlike open-end funds, are not continuously offered. There is a
one-time public offering and 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 Pioneer's closed-end funds, please call
800-225-6292 or visit our closed-end pricing page.
© 2009 Pioneer Investment Management, Inc. Member of the UniCredit
Banking Group, Register of Banking Groups
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