Pioneer Investments Declares Monthly Distributions For Closed-End Funds, Special Distributions, And Announces Termination Of HNW Level Distribution Policy

Pioneer Investments today announced the declaration of dividends for five closed-end funds for December 2011. The closing market price, annualized market price distribution rate, NAV, and NAV distribution rate are based on data as of December 1, 2011.

Pioneer Investments today is also announcing special one-time taxable distributions for Pioneer Municipal High Income Trust (MHI) and Pioneer Municipal High Income Advantage Trust (MAV). These taxable distributions resulted from certain bonds that were purchased at a discount and subsequently sold or matured at a gain. The amount per share of these distributions is provided below.

In addition, Pioneer Investments is also announcing special one-time distributions for Pioneer Floating Rate Trust (PHD) and Pioneer Diversified High Income Trust (HNW) related to income earned by the funds in 2011 above their normal monthly distribution that is required to be paid in 2011. The amount per share of these distributions is provided below.

Regular December 2011 Distribution:
 
Ex Date:         December 8, 2011
Record Date: December 12, 2011
Payable Date: December 19, 2011
                     
Fund Distribution

MarketPrice

Market PriceDistributionRate
NAV

NAVDistributionRate

Taxable
Pioneer High Income Trust (NYSE:PHT) $0.1375 $17.15 9.62% $12.69 13.00%
Pioneer Floating Rate Trust (NYSE:PHD) $0.0850 $12.73 8.01% $12.40

8.23 %

Pioneer Diversified High Income Trust (NYSE Amex:HNW)
$0.1600 $19.06 10.07% $18.83 10.20%
 

Tax-Exempt
Pioneer Municipal High Income Trust (NYSE: MHI) $0.0950 $14.23 8.01% $13.32 8.56%
Pioneer Municipal High Income Advantage Trust (NYSE: MAV) $0.0950 $13.75 8.29% $12.24 9.31%
       

Taxable-EquivalentDistribution Rateat Market Price
       

Taxable-EquivalentDistribution Rateat NAV
Pioneer Municipal High Income Trust (NYSE: MHI) 12.32% 13.17%
Pioneer Municipal High Income Advantage Trust (NYSE: MAV) 12.76% 14.33%

Taxable-Equivalent Distribution Rate is computed using the maximum federal tax rate .

Special December 2011 Taxable Distribution:
 
Ex Date:         December 13, 2011
Record Date: December 15, 2011
Payable Date: December 29, 2011

 
       

 
 
Pioneer Municipal High Income Trust (NYSE: MHI)

$0.0567
Pioneer Municipal High Income Advantage Trust (NYSE: MAV)

$0.1711
Pioneer Floating Rate Trust (PHD)

$0.0850
Pioneer Diversified High Income Trust (HNW)

$0.0400

HNW – Termination of Level Distribution Policy

At a regular meeting held on November 29, 2011, the Board of Trustees of HNW determined to discontinue the fund’s level distribution policy. This determination was made in consideration of a number of factors, including the current economic environment and the fund’s current income prospects. The fund’s regular distribution for December 2011 is expected to consist entirely of net investment income. The fund’s distribution policies continue to be subject to regular review by the Board of Trustees.

The funds are closed-end investment companies. Four of these funds trade on the New York Stock Exchange (NYSE) under the following symbols: MHI, MAV, PHT, and PHD. HNW trades on the NYSE Amex. Pioneer Investment Management, Inc. is each fund’s investment adviser.

Keep in mind, dividends are not guaranteed. Closed-end funds, unlike open-end funds, are not continuously offered. There is a one-time public offering and once issued, common shares of closed-end funds are bought and sold in the open market through a stock exchange and frequently trade at prices lower than their net asset value. Net Asset Value (NAV) is total assets less total liabilities divided by the number of common shares outstanding. For performance data on Pioneer's closed-end funds, please call 800-225-6292 or visit our closed-end pricing page.

© 2011 Pioneer Investment Management, Inc.Member of the UniCredit Banking Group,Register of Banking Groups

Copyright Business Wire 2010

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