Pioneer Investments Declares Monthly Distributions for Closed-End Funds
03 Februar 2015 - 8:23PM
Business Wire
Pioneer Investments today announced the declaration of dividends
for five closed-end funds for February 2015. The closing market
price, annualized market price distribution rate, NAV, and
annualized NAV distribution rate are based on data as of February
2, 2015.
Ex Date:
February 17, 2015
Record Date:
February 19, 2015
Payable Date:
February 27, 2015
Fund Distribution
MarketPrice
Market
PriceDistributionRate
NAV
NAVDistributionRate
Taxable
Pioneer Diversified High Income Trust (NYSE MKT: HNW) $0.1350
$17.21 9.41% $18.04 8.98% Pioneer Floating Rate Trust (NYSE:PHD)
$0.0550 $11.19 5.90% $12.63 5.23% Pioneer High Income Trust
(NYSE:PHT)
$0.1150*
$16.96 8.14% $11.73 11.77%
Tax-Exempt
Pioneer Municipal High Income Advantage Trust (NYSE: MAV) $0.0950
$15.47 7.37% $13.02 8.76% Pioneer Municipal High Income Trust
(NYSE: MHI) $0.0850 $14.80 6.89% $13.75 7.42%
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).
Taxable-EquivalentDistribution
Rateat Market Price
Taxable-EquivalentDistribution
Rateat NAV
Pioneer Municipal High Income Advantage Trust (NYSE: MAV) 13.02%
15.48% Pioneer Municipal High Income Trust (NYSE: MHI) 12.17%
13.11%
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%.
*PHT's February distribution of $0.1150 per share represents a
16.4% decrease from the $0.1375 per share distribution paid in
January. The Fund’s income and reserves supported a stable
distribution of $0.1375 since the Fund’s inception in 2002. The
prolonged low interest-rate environment has reduced the yields of
securities throughout the high yield sector. As a result, the
Fund’s maturing higher yielding securities have been 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 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, distributions are not guaranteed. A fund’s
distribution rate may be affected by numerous factors, including
changes in realized and 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. 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.
© 2015 Pioneer Investment Management, Inc.Member of the
UniCredit Banking Group, Register of Banking Groups
Pioneer InvestmentsShareholder Inquiries:Please contact your
financial advisor or visit
us.pioneerinvestments.com.orBroker/Advisor
Inquiries:800-622-9876orMedia Inquiries:Geoff Smith,
617-422-4727
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