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Pioneer Investments Declares Monthly Distributions for Closed-End Funds

BOSTON--(BUSINESS WIRE)--Pioneer Investments today announced the declaration of dividends for five closed-end funds for September 2014. The closing market price, annualized market price distribution rate, NAV, and annualized NAV distribution rate are based on data as of September 2, 2014.

         
Ex Date: September 15, 2014
Record Date: September 17, 2014
Payable Date: September 30, 2014
 
                             
Fund Distribution

Market
Price

Market Price
Distribution
Rate

NAV

NAV
Distribution
Rate

 

Taxable

Pioneer Diversified High Income Trust (NYSE MKT: HNW) $0.1600 $20.60 9.32% $19.92 9.64%
Pioneer Floating Rate Trust (NYSE:PHD) $0.0550 $12.17 5.42% $12.97 5.09%
Pioneer High Income Trust (NYSE:PHT) $0.1375 $17.81 9.26% $13.91 11.86%
 

Tax-Exempt

Pioneer Municipal High Income Advantage Trust (NYSE: MAV) $0.0950 $15.07 7.57% $12.54 9.09%
Pioneer Municipal High Income Trust (NYSE: MHI) $0.0950 $15.17 7.52% $13.45 8.48%
 

Market Price Distribution Rate is calculated by dividing the last distribution per share (annualized) by market price. Rate includes leverage (non-income items such as loan or proceeds). It does not reflect returns of principal.

           

Taxable-Equivalent
Distribution Rate
at Market Price

Taxable-Equivalent
Distribution Rate
at NAV

Pioneer Municipal High Income Advantage Trust (NYSE: MAV) 13.37% 16.06%
Pioneer Municipal High Income Trust (NYSE: MHI) 13.29% 14.98%
 

Taxable-Equivalent Distribution Rate is computed using an effective tax rate of 43.4%, which includes the maximum federal tax rate of 39.6% and the net investment income tax rate of 3.8%.

The funds are closed-end investment companies. Four of these funds trade on the New York Stock Exchange (NYSE) under the following symbols: PHD, PHT, MAV and MHI. HNW trades on the NYSE MKT. Pioneer Investment Management, Inc. is each fund’s investment adviser.

Keep in mind, dividends are not guaranteed. Closed-end funds, unlike open-end funds, are not continuously offered. There is a one-time public offering and 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.

© 2014 Pioneer Investment Management, Inc.
Member of the UniCredit Banking Group, Register of Banking Groups

Contacts

Pioneer Investments
Shareholder Inquiries:
Please contact your financial advisor or visit us.pioneerinvestments.com.
or
Broker/Advisor Inquiries Contact:
800-622-9876
or
Media Inquiries Contact:
Geoff Smith, 617-422-4727