In plain terms — John Hancock Premium Dividend Fund
Shares currently cost about 11.7% less than the value of the assets behind them (a discount).
Over the past year it has averaged a 10.1% discount, so today's level is not wide for this fund (Z-score -0.9). That describes the past; it does not predict where the discount goes next.
It pays regular distributions worth about 9.0% a year of the share price (7.9% of the assets). That is a payout rate, not a return: part of it may be capital being handed back.
Because the shares trade below the value of their assets, each dollar of reinvested distributions buys about $1.13 of assets — a ReinvestCapture™ rate of 10.2%, more than the payout rate itself. That is buying power, not a return.
The assets themselves grew 1.5% over the past year including distributions (NAV total return).
Guided view hides the statistical panels. Switch to Expert view in the grey bar to see them. Nothing here is advice.
Price and NAV, past year
Snapshot
Valuation vs. history
| Window | Average prem/disc | Std. dev. | Z-score | Observations |
|---|---|---|---|---|
| 3 months | -10.82% | 0.64% | -0.72 | 55 |
| 6 months | -10.92% | 0.69% | -0.51 | 107 |
| 1 year | -10.06% | 1.34% | -0.91 | 205 |
| 3 years | -6.97% | — | — | — |
| 5 years | -2.32% | — | — | — |
Current contemporaneous premium/discount -11.28% (close Oct 14, 2026 vs NAV Oct 13, 2026). 1-year range -12.65% to -7.09%. A negative Z-score means a wider discount than the window average — not that the fund is undervalued.
Performance
| Series | 1M | 3M | YTD | 1Y | 3Y (ann.) | 5Y (ann.) |
|---|---|---|---|---|---|---|
| Market price return | -2.08% | -9.47% | -7.40% | -10.84% | +7.67% | -7.23% |
| Market price total return | -1.35% | -7.50% | -1.06% | -3.50% | +16.68% | +0.68% |
| NAV return | -2.62% | -7.27% | -3.74% | -5.44% | +7.86% | -2.02% |
| NAV total return | -1.98% | -5.48% | +2.14% | +1.53% | +16.26% | +6.11% |
Through Oct 14, 2026. Total return reinvests distributions at the series value on the ex-date. Cumulative ≤ 1 year, annualised beyond.
About the fund
John Hancock Premium Dividend Fund is a closed ended equity mutual fund launched and managed by John Hancock Investment Management LLC. It is co-managed by John Hancock Asset Management. The fund invests in the public equity markets of the United States. It seeks to invest in stocks of companies operating across diversified sectors, with an emphasis on the utilities sector. The fund primarily invests in dividend paying preferred stocks and common stocks of companies. It benchmarks the performance of its portfolio against a composite benchmark comprised of 70% Bank of America Merrill Lynch Preferred Stock DRD Eligible Index and 30% S&P 500 Utilities Index. The fund was formerly known as John Hancock Patriot Premium Dividend Fund II. John Hancock Premium Dividend Fund was formed on December 21, 1989 and is domiciled in the United States.
CEF Explorer research page for John Hancock Premium Dividend Fund. Figures carry their own dates and sources; a discount to NAV does not guarantee convergence or any return. This is not investment advice.