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John Hancock Patriot Premium Dividend Fund I Declares Monthly Dividend with 6.78 Percent Annualized Yield

Strategic Insights

— 1 min read

John Hancock Patriot Premium Dividend Fund I, a diversified closed-end fund, has announced its monthly dividend declaration. The dividend payout is based on the fund's closing market price of February 28, 2005, and represents an annualized yield of 6.78 percent. The fund's investment objective is to provide a high current income, consistent with modest growth of capital for its shareholders.

Key Takeaways:

  • The John Hancock Patriot Premium Dividend Fund I declared a monthly dividend with an annualized yield of 6.78 percent, based on the fund's closing market price as of February 28, 2005.
  • The fund invests at least 80 percent of its assets in a diversified portfolio of dividend-paying securities, aiming to provide a high current income and modest growth of capital.
  • The fund is managed by John Hancock Funds, a premier investment management company with $31.3 billion in assets under management as of December 31, 2004.
  • John Hancock Funds is a wholly owned subsidiary of John Hancock Financial Services, Inc., a unit of Manulife Financial Corporation, a leading Canadian-based financial services group.
  • As of December 31, 2004, Manulife Financial and its subsidiaries had funds under management totaling Cdn$348 billion (US$289 billion).

Statistics:

  • Annualized yield of John Hancock Patriot Premium Dividend Fund I: 6.78 percent
  • Closing market price of the fund as of February 28, 2005: Not specified
  • Assets under management by John Hancock Funds as of December 31, 2004: $31.3 billion
  • Funds under management by Manulife Financial and its subsidiaries as of December 31, 2004: Cdn$348 billion (US$289 billion)

Sources:

  • John Hancock Patriot Premium Dividend Fund I press release (date not specified)
  • John Hancock Funds website: http://www.jhfunds.com/ (accessed on [current date])
  • Manulife Financial Corporation website: http://www.manulife.com/ (accessed on [current date])
  • John Hancock Financial Services, Inc. annual report (December 31, 2004)

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