John Hancock Preferred Income Fund III Declares Regular Monthly Dividend

Strategic Insights -

John Hancock Preferred Income Fund III, a diversified closed-end fund, declared its regular monthly dividend of $0.0725 per share. This dividend translates to an annualized yield of 9.42 percent, based on the fund's closing market price as of July 6, 2004. The fund's primary investment objective is to provide a high level of current income, consistent with preservation of capital. Its secondary investment objective is to provide growth of capital.

The Fund invests at least 80% of its total assets in preferred securities and other fixed income securities which are rated investment grade. John Hancock Funds, a premier investment management company, manages $30.2 billion in open-end funds, closed-end funds, private accounts, and retirement plans for individual and institutional investors as of March 31, 2004. The company's parent, Manulife Financial Corporation, operates in 19 countries and territories worldwide, with pro forma funds under management totaling Cdn$356 billion (US$272 billion) as at March 31, 2004.

Key Takeaways:

  • John Hancock Preferred Income Fund III declared a regular monthly dividend of $0.0725 per share.
  • The dividend rate is an annualized yield of 9.42 percent, based on the fund's closing market price as of July 6, 2004.
  • The fund's primary investment objective is to provide a high level of current income, consistent with preservation of capital.
  • The fund invests at least 80% of its total assets in preferred securities and other fixed income securities which are rated investment grade.
  • John Hancock Funds manages $30.2 billion in open-end funds, closed-end funds, private accounts, and retirement plans as of March 31, 2004.
  • Manulife Financial Corporation operates in 19 countries and territories worldwide, and has pro forma funds under management totaling Cdn$356 billion (US$272 billion) as at March 31, 2004.
  • The company's subsidiaries offer a broad range of financial products and services, including life insurance, college savings products, mutual funds, and annuities.
  • John Hancock Financial Services and its subsidiaries have been in operation since 1862.

Statistics:

  • Monthly dividend: $0.0725 per share
  • Annualized yield: 9.42 percent, as of July 6, 2004
  • Total assets invested in preferred securities: at least 80%
  • Total assets managed by John Hancock Funds: $30.2 billion as of March 31, 2004
  • Pro forma funds under management by Manulife Financial: Cdn$356 billion (US$272 billion) as at March 31, 2004

Sources:

  • John Hancock Preferred Income Fund III
  • John Hancock Funds
  • John Hancock Financial Services, Inc.
  • Manulife Financial Corporation
  • Kimberley Dietrich, +1-617-375-0311, or Investors: +1-800-843-0090, both of John Hancock
  • http://www.jhfunds.com/