Amundi Pioneer Declares Monthly Distributions for Pioneer Closed-End Funds
May 05 2020 - 4:05PM
Business Wire
Amundi Pioneer Asset Management today announced the declaration
of dividends for five Pioneer closed-end funds for May 2020.
Ex Date:
May 18, 2020
Record Date:
May 19, 2020
Payable:
May 29, 2020
Ticker
Taxable
Funds
Distribution
Per
Share
Change From
Previous
Month
HNW*
Pioneer Diversified High Income
Trust
$0.0950
-
PHD
Pioneer Floating Rate Trust
$0.0600**
-$0.0025
PHT
Pioneer High Income Trust
$0.0675
-
Ticker
Tax-Exempt
Funds
Distribution
Per
Share
Change From
Previous
Month
MAV
Pioneer Municipal High Income
Advantage Trust
$0.0425***
$0.0050
MHI
Pioneer Municipal High Income
Trust
$0.0450
-
Market
Price
Market Price
Distribution Rate
NAV
NAV
Distribution Rate
Pioneer Diversified High Income
Trust
$10.89
10.47%
$12.55
9.08%
Pioneer Floating Rate Trust
$8.26
8.72%
$9.71
7.42%
Pioneer High Income Trust
$6.77
11.96%
$7.60
10.66%
Pioneer Municipal High Income
Advantage Trust
$10.13
5.03%
$11.59
4.40%
Pioneer Municipal High Income
Trust
$10.88
4.96%
$12.39
4.36%
*HNW currently has a level distribution policy, which is
intended to provide investors with a relatively stable monthly
distribution. The level distribution policy is subject to regular
review by the Board of Trustees to determine whether it continues
to be in the best interests of the fund and its shareholders. There
can be no assurance that this policy will be maintained in the
future or maintained at its current level. Investors should not
necessarily draw any conclusions about the fund's investment
performance from the amount of this distribution or from the terms
of the fund's level distribution policy. If the fund estimates that
any portion of a distribution may be comprised of amounts from
sources other than net investment income, then the fund will notify
shareholders of the estimated composition of the distribution
through a separate written Section 19(a) Notice. Section 19(a)
Notices are provided for informational purposes only, and should
not be used for tax reporting purposes. Final tax characteristics
of all fund distributions will be provided on Form 1099-DIV, which
is mailed after the close of the calendar year.
**PHD’s May distribution of $0.0600 per share represents a 4%
decrease from the $0.0625 per share paid in April. The decrease was
due primarily to lower LIBOR rates and tighter spreads in the
floating rate bond market, which resulted in the Fund replacing
maturing and callable securities with new securities with lower
yields, reducing the Fund’s income.
***MAV’s May distribution of $0.0425 per share represents a
13.3% increase from $0.0375 per share paid in April. The increase
was due primarily to increased yields in the high yield municipal
bond market. A number of the Fund’s maturing and callable
securities were replaced with new securities with higher yields,
increasing the Fund’s income. This change better aligns the Fund’s
distribution rate with its current and projected level of earnings
and reserves.
The closing market price and NAV are based on data as of May 4,
2020. 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.
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
NYSEAMER.
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 Amundi
Pioneer's closed-end funds, please call 800-225-6292 or visit our
closed-end pricing page.
About Amundi Pioneer Asset Management
Amundi Pioneer is the U.S. business of Amundi, Europe’s largest
asset manager by assets under management and ranked among the ten
largest globally[1]. Boston is one of Amundi’s six main global
investment hubs and offers a broad range of fixed-income, equity,
and multi-asset investment solutions in close partnership with
wealth management firms, distribution platforms, and institutional
investors across the Americas, Europe, and Asia-Pacific. Our long
history of proprietary research, robust risk management,
disciplined investment processes, and strong client relationships
has made Amundi Pioneer an investment advisor of choice among
leading institutional and individual investors worldwide. Amundi
Pioneer had approximately $78 billion in assets under management as
of March 31, 2020.
[1] Source IPE “Top 400 asset managers” published in June 2019
and based on AUM as of end December 2018.
Visit amundipioneer.com/us for more information.
Follow us on www.linkedin.com/company/amundi-pioneer and
https://twitter.com/amundipioneer.
Amundi Pioneer Distributor, Inc., Member SIPC ©2020 Amundi
Pioneer Asset Management
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