Description

Operating as a closed-ended equity mutual fund, the John Hancock Premium Dividend Fund is under the direction of John Hancock Investment Management LLC, with John Hancock Asset Management serving as its co-manager. Its investment mandate is centered on the public equity markets within the United States. While seeking exposure to a diverse array of sectors, the fund allocates a significant portion of its assets to companies in the utilities sector. The core of its holdings comprises preferred and common stocks that are recognized for their dividend distributions. Performance evaluation for the fund is conducted against a blended benchmark, specifically 70% of the Bank of America Merrill Lynch Preferred Stock DRD Eligible Index and 30% of the S&P 500 Utilities Index. Originally founded in the United States on December 21, 1989, this fund was formerly designated as the John Hancock Patriot Premium Dividend Fund II.