This adjustment brings the fund's annualized distribution rate to 7.33 percent based on its June 24 net asset value of $14.45 per share. When calculated against the closing market price of $12.73 on the same date, the rate stands at 8.32 percent. Shareholders of record by July 13 are eligible for the upcoming payment.
John Hancock Premium Dividend Fund Raises Monthly Payout by 7 Percent
The John Hancock Premium Dividend Fund is increasing its monthly distribution to $0.0883 per share, a 7 percent hike over the previous $0.0825 rate. The Board of Trustees approved the amendment to the fund's managed distribution plan, effective for the payment scheduled on July 31, 2026.
Under the updated plan, distributions draw from a mix of net investment income, realized capital gains, and, if necessary, return of capital. While the fund intends to prioritize long-term capital gains to cover these payouts, the Board retains the authority to modify or terminate the plan at any time. Management emphasizes that distribution amounts should not be interpreted as a direct indicator of overall investment performance.
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