John Hancock Tax-Advantaged Dividend Income Fund Declares Regular Monthly Dividend

Strategic Insights -

The John Hancock Tax-Advantaged Dividend Income Fund has declared its regular monthly dividend, offering an attractive annualized yield of 7.01 percent based on the fund's closing market price as of August 6, 2004. This dividend is in line with the fund's investment objective of providing a high level of after-tax total return from dividend income and capital appreciation. The fund, a diversified closed-end fund, 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 fund's regular monthly dividend offers an annualized yield of 7.01 percent, based on the fund's closing market price as of August 6, 2004.
  • The fund's investment objective is to provide a high level of after-tax total return from dividend income and capital appreciation.
  • The fund 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.
  • The fund is managed by John Hancock Advisers, LLC, a subsidiary of John Hancock Financial Services, Inc.
  • John Hancock Financial Services and its subsidiaries offer a broad range of financial products and services, including life insurance, mutual funds, and fixed and variable annuities.
  • John Hancock Funds had $30.2 billion in open-end funds, closed-end funds, private accounts, and retirement plans as of March 31, 2004.
  • Manulife Financial Corporation, the parent company of John Hancock Financial Services, had pro forma funds under management of Cdn$356 billion (US$272 billion) as at March 31, 2004.
  • Manulife Financial operates in 19 countries and territories around the world, serving millions of customers.

Statistics:

  • Fund assets: $30.2 billion (as of March 31, 2004)
  • Annualized yield: 7.01% (based on closing market price as of August 6, 2004)
  • Pro forma funds under management by Manulife Financial: Cdn$356 billion (US$272 billion) as at March 31, 2004
  • Fund performance: aims to provide a high level of after-tax total return from dividend income and capital appreciation
  • Investment focus: dividend-paying common and preferred securities that qualify for U.S. federal income taxation at rates applicable to long-term capital gains

Sources:

  • "John Hancock Tax-Advantaged Dividend Income Fund" press release, [no date]
  • John Hancock Financial Services, Inc. website, http://www.jhfunds.com/
  • Manulife Financial Corporation website, http://www.manulife.com/
  • "Manulife Financial Corporation Annual Report 2004"