Pioneer Investments Declares Monthly Distributions for Closed-End Funds
04 November 2014 - 7:50PM
Business Wire
Pioneer Investments today announced the declaration of dividends
for five closed-end funds for November 2014. The closing market
price, annualized market price distribution rate, NAV, and
annualized NAV distribution rate are based on data as of November
3, 2014.
Ex Date: November 13,
2014 Record Date: November 17, 2014 Payable Date: November 28, 2014
Fund Distribution
MarketPrice
Market
PriceDistributionRate
NAV
NAVDistributionRate
Taxable
Pioneer Diversified High Income Trust (NYSE MKT: HNW) $0.1350
$20.19 8.02% $19.28 8.40% Pioneer Floating Rate Trust (NYSE:PHD)
$0.0550 $11.52 5.73% $12.80 5.16% Pioneer High Income Trust
(NYSE:PHT) $0.1375 $17.50 9.43% $13.03 12.66%
Tax-Exempt
Pioneer Municipal High Income Advantage Trust (NYSE: MAV) $0.0950
$15.26 7.47% $12.62 9.03% Pioneer Municipal High Income Trust
(NYSE: MHI) $0.0850 $15.30 6.67% $13.49 7.56%
Market Price Distribution Rate is calculated by dividing the
last distribution per share (annualized) by market price. Rate
includes leverage (non-income items such as loan or proceeds). It
does not reflect returns of principal.
Taxable-EquivalentDistribution
Rateat Market Price
Taxable-EquivalentDistribution
Rateat NAV
Pioneer Municipal High Income Advantage Trust (NYSE: MAV) 13.20%
15.95% Pioneer Municipal High Income Trust (NYSE: MHI) 11.78%
13.36%
Taxable-Equivalent Distribution Rate is computed using an
effective tax rate of 43.4%, which includes the maximum federal tax
rate of 39.6% and the net investment income tax rate of 3.8%.
*HNW’s November distribution of $0.1350 per share represents a
$0.025 per share decrease from the previous monthly distribution of
$0.160 per share. MHI’s November distribution of $0.0850 per share
represents at $0.010 per share decrease from the previous monthly
distribution of $0.0950 per share. Many fixed income asset classes
have experienced spread compression (tightening) in the past 12
months. Therefore, yields on the funds’ securities have trended
lower. These distribution changes were made to better align the
funds’ distribution rates to their current and projected level of
earnings.
The funds are closed-end investment companies. Four of these
funds trade on the New York Stock Exchange (NYSE) under the
following symbols: PHD, PHT, MAV and MHI. HNW trades on the NYSE
MKT. 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.
© 2014 Pioneer Investment Management, Inc.Member of the
UniCredit Banking Group, Register of Banking Groups
Pioneer InvestmentsShareholder Inquiries:Contact your financial
advisor or visit us.pioneerinvestments.com.orBroker/Advisor
Inquiries Contact:800-622-9876orMedia Inquiries Contact:Geoff
Smith, 617-422-4727
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