Pioneer Investments today announced the declaration of dividends for three closed-end funds for January.

   

Ex Date:

January 17, 2017

Record Date:

January 19, 2017

Payable:

January 31, 2017

 

Ticker

    

Taxable Funds

    

Distribution

Per Share

    

Change From

Previous Month

PHT Pioneer High Income Trust* $0.0650 $-0.0200
 

Ticker

Tax-Exempt Funds

Distribution

Per Share

Change From

Previous Month

MAV Pioneer Municipal High Income Advantage Trust* $0.0475 $-0.0150
MHI Pioneer Municipal High Income Trust* $0.0475 $-0.0100
 
   

Market
Price

    

Market Price

Distribution Rate

    

NAV

    

NAV

Distribution Rate

Pioneer High Income Trust $10.36 7.53% $10.49 7.44%
Pioneer Municipal High Income Advantage Trust $11.95 4.77% $11.73 4.86%
Pioneer Municipal High Income Trust $11.93 4.78% $12.59 4.53%
 

*PHT’s January per share distribution of $0.0650 represents a 23.5% decrease from the $0.0850 per share distribution paid in December. MAV’s January per share distribution of $0.0475 represents a 24.0% decrease from the $0.0625 per share distribution paid in December. MHI’s January per share distribution of $0.0475 represents a 17.4% decrease from the $0.0575 per share distribution paid in December. The prolonged low interest rate environment last year reduced the yields of securities throughout the bond market. As a result, the Funds’ maturing and callable higher yielding securities often were replaced with new securities with lower yields, reducing the Funds’ income. The Funds 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 January 4, 2017. 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. PHT, MHI and MAV trade on the New York Stock Exchange (NYSE). 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.

© 2017 Pioneer Investment Management, Inc.
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