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|
|HNW||Pioneer Diversified High Income Trust||$0.0950||-|
|PHD||Pioneer Floating Rate Trust||$0.0625*||$0.0025|
|PHT||Pioneer High Income Trust||$0.0675||-|
|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.
|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 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. 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.
 Source IPE “Top 400 asset managers” published in June 2018 and based on AUM as of end December 2017.
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