John Hancock Preferred Income Fund III Sets $0.1100 Monthly Distribution, 9.27% Yield
Preferred Income Fund III declared a $0.1100 per share monthly distribution payable April 30, with record and ex-dividend dates of April 13. The fund’s market price was $14.24 as of March 31, implying a 9.27% annualized distribution rate.
1. Distribution Declaration
On April 1, Preferred Income Fund III declared a monthly distribution of $0.1100 per share. The distribution will be paid on April 30 to shareholders of record as of the April 13 record date, with an ex-dividend date of April 13.
2. Market Price and Yield
As of March 31, the fund’s market price stood at $14.24 per share, resulting in an annualized current distribution rate of 9.27%. This yield reflects the relationship between the declared monthly distribution and the prevailing share price.
3. Distribution Composition
Under its managed distribution plan, distributions may include net investment income, net realized long- and short-term capital gains, and, if necessary, return of capital. The board retains the right to amend or terminate the plan at any time.