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Insurance industry

John Hancock Tax-Advantaged Dividend Income Fund Declares Monthly Dividend

Strategic Insights

— 1 min read

John Hancock Tax-Advantaged Dividend Income Fund announced its monthly dividend, which translates to an annualized yield of 6.50 percent, based on the fund's closing market price as of September 10, 2004. This declaration aligns with the fund's objective to provide a high level of after-tax total return from dividend income and capital appreciation. The fund, managed by John Hancock Funds, invests at least 80% of its assets in dividend-paying common and preferred securities that qualify for U.S. federal income taxation at rates applicable to long-term capital gains.

Key Takeaways:

  • The John Hancock Tax-Advantaged Dividend Income Fund is a diversified, closed-end fund with the objective of providing a high level of after-tax total return from dividend income and capital appreciation.
  • The fund will invest at least 80% of its assets in dividend-paying common and preferred securities that qualify for U.S. federal income taxation at rates applicable to long-term capital gains.
  • John Hancock Funds manages over $27 billion in open-end funds, closed-end funds, private accounts, and retirement plans for individual and institutional investors.
  • Manulife Financial Corporation, the parent company of John Hancock, has funds under management of Cdn$360 billion (US$269 billion) as of June 30, 2004.
  • John Hancock Tax-Advantaged Dividend Income Fund is traded publicly and its annualized yield is 6.50 percent, based on the fund's closing market price as of September 10, 2004.
  • The fund's investment manager, John Hancock Advisers, LLC, has expertise in selecting dividend-paying securities that meet the fund's investment criteria.

Statistics:

  • Annualized yield of 6.50 percent for the John Hancock Tax-Advantaged Dividend Income Fund as of September 10, 2004.
  • $27 billion in assets under management for John Hancock Funds as of June 30, 2004.
  • Cdn$360 billion (US$269 billion) in funds under management by Manulife Financial Corporation as of June 30, 2004.
  • 80% is the minimum investment percentage in dividend-paying securities for the John Hancock Tax-Advantaged Dividend Income Fund.

Sources:

  • John Hancock Funds' press release dated [no date provided]
  • Company website: http://www.jhfunds.com/
  • Manulife Financial website: http://www.manulife.com/

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