Amundi Pioneer Declares Monthly Distributions for Pioneer Closed-End Funds
June 04 2019 - 3:05PM
Business Wire
Amundi Pioneer Asset Management today announced the declaration
of dividends for five Pioneer closed-end funds for June.
Ex Date: June 17, 2019 Record Date: June 18, 2019
Payable: June 28, 2019
Ticker
Taxable
Funds
DistributionPer
Share
Change FromPrevious
Month
HNW Pioneer Diversified High Income Trust $0.0950 - PHD Pioneer
Floating Rate Trust $0.0625* $0.0025 PHT Pioneer High Income Trust
$0.0675 -
Ticker
Tax-Exempt
Funds
DistributionPer
Share
Change FromPrevious
Month
MAV Pioneer Municipal High Income Advantage Trust $0.0375**
-$0.0050 MHI Pioneer Municipal High Income Trust $0.0525 -
*PHD’s June per share distribution of $0.0625 represents a 4.2%
increase from the $0.0600 per share distribution paid in May. The
increase was due primarily to widening spreads in the floating rate
bond market, which allowed the Fund to replace maturing and
callable securities with new securities with higher yields,
increasing the Fund’s income. This change better aligns the Fund’s
distribution rates with its current and projected level of earnings
and reserves.
**MAV’s June per share distribution of $0.0375 represents a
11.8% decrease from the $0.0425 per share distribution paid in May.
The decrease was due primarily to reduced yields in the high yield
municipal bond market. The Fund’s maturing and callable securities
were often 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.
MarketPrice
Market PriceDistribution Rate
NAV
NAVDistribution
Rate
Pioneer Diversified High Income Trust $14.14 8.06% $15.99 7.13%
Pioneer Floating Rate Trust $10.37 7.23% $12.02 6.24% Pioneer High
Income Trust $8.88 9.12% $9.81 8.26% Pioneer Municipal High Income
Advantage Trust $10.87 4.14% $11.82 3.81% Pioneer Municipal High
Income Trust $12.11 5.20% $12.85 4.90%
The closing market price and NAV are based on data as of June 3,
2019. 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
NYSEAMER.
Amundi Pioneer Asset Management, Inc. is each fund’s investment
adviser. On July 3, 2017, the name of the adviser was changed from
Pioneer Investment Management, Inc., coinciding with its
acquisition by Amundi. As a result of the transaction, Amundi
Pioneer Asset Management, Inc. became an indirect wholly owned
subsidiary of Amundi. Amundi, one of the world’s largest asset
managers, is headquartered in Paris, France.
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 ManagementAmundi 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]. Amundi Pioneer was formed in July 2017 when Amundi
acquired Pioneer Investments, and established Amundi Pioneer Asset
Management USA, Inc., based in Boston and Durham, NC. 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 have made Amundi Pioneer an investment advisor
of choice among leading institutional and individual investors
worldwide. Amundi Pioneer had approximately $84.7 billion in assets
under management as of March 31, 2019.
[1] Source IPE “Top 400 asset managers” published in June 2018
and based on AUM as of end December 2017.
Visit amundipioneer.com for more information.
Follow us on www.linkedin.com/company/amundi-pioneer and
https://twitter.com/amundipioneer.
Amundi Pioneer Distributor, Inc., Member SIPC© 2019 Amundi
Pioneer Asset Management
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Media Inquiries Please Contact: Geoff Smith, 617-422-4758
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