Pioneer Investments Declares Monthly Distributions for Closed-End Funds
05 Januar 2017 - 10:03PM
Business Wire
Pioneer Investments today announced the declaration of dividends
for three closed-end funds for January.
Ex Date:
January 17, 2017
Record Date:
January 19, 2017
Payable:
January 31, 2017
Ticker
Taxable
Funds
Distribution
Per Share
Change From
Previous
Month
PHT Pioneer High Income Trust* $0.0650 $-0.0200
Ticker
Tax-Exempt
Funds
Distribution
Per Share
Change From
Previous
Month
MAV Pioneer Municipal High Income Advantage Trust* $0.0475 $-0.0150
MHI Pioneer Municipal High Income Trust* $0.0475 $-0.0100
MarketPrice
Market Price
Distribution
Rate
NAV
NAV
Distribution
Rate
Pioneer High Income Trust $10.36 7.53% $10.49 7.44% Pioneer
Municipal High Income Advantage Trust $11.95 4.77% $11.73 4.86%
Pioneer Municipal High Income Trust $11.93 4.78% $12.59 4.53%
*PHT’s January per share distribution of $0.0650 represents a
23.5% decrease from the $0.0850 per share distribution paid in
December. MAV’s January per share distribution of $0.0475
represents a 24.0% decrease from the $0.0625 per share distribution
paid in December. MHI’s January per share distribution of $0.0475
represents a 17.4% decrease from the $0.0575 per share distribution
paid in December. The prolonged low interest rate environment last
year reduced the yields of securities throughout the bond market.
As a result, the Funds’ maturing and callable higher yielding
securities often were replaced with new securities with lower
yields, reducing the Funds’ income. The Funds 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 January
4, 2017. 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. PHT, MHI and MAV
trade on the New York Stock Exchange (NYSE). 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.
© 2017 Pioneer Investment Management, Inc.Member of the
UniCredit Banking Group, Register of Banking Groups
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version on businesswire.com: http://www.businesswire.com/news/home/20170105006346/en/
Pioneer InvestmentsShareholder Inquiries:Please contact your
financial advisor or visit
us.pioneerinvestments.com.orBroker/Advisor Inquiries Please
Contact:800-622-9876orMedia Inquiries Please Contact:Geoff Smith,
617-422-4727
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