John Hancock Patriot Premium Dividend Fund I Declares Monthly Dividend

Strategic Insights -

John Hancock Patriot Premium Dividend Fund I declared its monthly dividend on January 31, 2005, with an annualized yield of 6.64 percent based on the fund's closing market price. The fund seeks to provide a high current income, consistent with modest growth of capital for holders of its common shares. As a diversified, closed-end fund, it invests at least 80% of its assets in a diversified portfolio of dividend-paying securities.

Key Takeaways:

  • The fund's investment objective is to provide a high current income, consistent with modest growth of capital for holders of its common shares.
  • The fund invests at least 80% of its assets in a diversified portfolio of dividend-paying securities.
  • John Hancock Funds, a premier investment management company, managed approximately $29 billion in open-end funds, closed-end funds, private accounts, retirement plans, and related party assets as of September 30, 2004.
  • John Hancock Patriot Premium Dividend Fund I is a subsidiary of John Hancock Financial Services, Inc., a subsidiary of Manulife Financial Corporation.
  • Manulife Financial is a leading Canadian-based financial services group serving millions of customers in 19 countries and territories worldwide.

Statistics:

  • Annualized yield: 6.64 percent
  • Total assets under management by Manulife Financial and its subsidiaries: Cdn$346 billion (US$274 billion)
  • Market capitalization of Manulife Financial Corporation: trades as 'MFC' on the TSX, NYSE, and PSE, and under '0945' on the SEHK

Sources:

  • John Hancock Patriot Premium Dividend Fund I
  • John Hancock Funds
  • Manulife Financial Corporation
  • The Globe and Mail
  • http://www.jhfunds.com/
  • http://www.manulife.com/)