Pioneer Investments Declares Monthly Distributions for Closed-End Funds
04 August 2016 - 6:14AM
Business Wire
Pioneer Investments today announced the declaration of dividends
for five closed-end funds for August.
Ex Date:
August 16, 2016
Record Date:
August 18, 2016
Payable:
August 31, 2016
Ticker
Taxable
Funds
Distribution
Per Share
Change From
Previous
Month
HNW Pioneer Diversified High Income Trust $0.1150 - PHD Pioneer
Floating Rate Trust $0.0600 - PHT Pioneer High Income Trust $0.0850
-
Ticker
Tax-Exempt
Funds
Distribution
Per Share
Change From
Previous
Month
MAV Pioneer Municipal High Income Advantage Trust* $0.0625 $-0.0075
MHI Pioneer Municipal High Income Trust* $0.0575 $-0.0125
MarketPrice
Market Price
Distribution
Rate
NAV
NAV
Distribution
Rate
Pioneer Diversified High Income Trust $16.16 8.54% $17.04 8.10%
Pioneer Floating Rate Trust $11.40 6.32% $12.42 5.80% Pioneer High
Income Trust $10.37 9.84% $10.10 10.10% Pioneer Municipal High
Income Advantage Trust $13.96 5.37% $12.85 5.84% Pioneer Municipal
High Income Trust $14.31 4.82% $13.65 5.05%
*MAV’s August distribution of $0.0625 per share represents a
12.0% decrease from the $0.0700 per share distribution paid in
July. MHI’s August distribution of $0.0575 per share represents a
17.86% decrease from the $0.0700 per share distribution paid in
July. The prolonged low interest rate environment has reduced the
yields of securities throughout the municipal bond market. As a
result, the Funds’ maturing and callable higher yielding securities
have been replaced with new securities with lower yields, reducing
the Funds’ income. The Funds have also experienced increased
borrowing costs. These changes better align the Funds’ distribution
rates with their current and projected level of earnings and
reserves.
The closing market price and NAV are based on data as of August
2, 2016. 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.
All funds are closed-end investment companies. PHD, PHT, MHI and
MAV trade on the New York Stock Exchange (NYSE). HNW trades on the
NYSE MKT. Pioneer Investment Management, Inc. is each fund’s
investment adviser.
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 Pioneer's
closed-end funds, please call 800-225-6292 or visit our closed-end
pricing page.
© 2016 Pioneer Investment Management, Inc.
Member of the UniCredit Banking Group, Register of Banking
Groups
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Contact:800-622-9876orMedia Inquiries Please Contact:Geoff Smith,
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