Pioneer Investments Declares Monthly Distributions for Closed-End Funds

BOSTON--()--Pioneer Investments today announced the declaration of dividends for five closed-end funds for August.

   

Ex Date:

August 16, 2016

Record Date:

August 18, 2016

Payable:

 

August 31, 2016

 
                 

Ticker

Taxable Funds

Distribution

Per Share

Change From

Previous Month

HNW Pioneer Diversified High Income Trust $0.1150 -
PHD Pioneer Floating Rate Trust $0.0600 -
PHT Pioneer High Income Trust $0.0850 -
 

Ticker

Tax-Exempt Funds

Distribution

Per Share

Change From

Previous Month

MAV Pioneer Municipal High Income Advantage Trust* $0.0625 $-0.0075
MHI Pioneer Municipal High Income Trust* $0.0575 $-0.0125
 
     

Market
Price

     

Market Price

Distribution Rate

     

NAV

     

NAV

Distribution Rate

Pioneer Diversified High Income Trust $16.16 8.54% $17.04 8.10%
Pioneer Floating Rate Trust $11.40 6.32% $12.42 5.80%
Pioneer High Income Trust $10.37 9.84% $10.10 10.10%
Pioneer Municipal High Income Advantage Trust $13.96 5.37% $12.85 5.84%
Pioneer Municipal High Income Trust $14.31 4.82% $13.65 5.05%
 

*MAV’s August distribution of $0.0625 per share represents a 12.0% decrease from the $0.0700 per share distribution paid in July. MHI’s August distribution of $0.0575 per share represents a 17.86% decrease from the $0.0700 per share distribution paid in July. The prolonged low interest rate environment has reduced the yields of securities throughout the municipal bond market. As a result, the Funds’ maturing and callable higher yielding securities have been replaced with new securities with lower yields, reducing the Funds’ income. The Funds have also experienced increased borrowing costs. These changes better align the Funds’ distribution rates with their current and projected level of earnings and reserves.

The closing market price and NAV are based on data as of August 2, 2016. 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 NYSE MKT. Pioneer Investment Management, Inc. is each fund’s investment adviser.

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 Pioneer's closed-end funds, please call 800-225-6292 or visit our closed-end pricing page.

© 2016 Pioneer Investment Management, Inc.

Member of the UniCredit Banking Group, Register of Banking Groups

Contacts

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

Contacts

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