JOHN HANCOCK TAX-ADVANTAGED DIVIDEND INCOME FUND NOTICE TO SHAREHOLDERS - SOURCES OF DISTRIBUTION UNDER SECTION 19(a)

Rhea-AI Summary

The John Hancock Tax-Advantaged Dividend Income Fund (NYSE: HTD) announced a monthly distribution of $0.1380 per share, payable on February 28, 2023 to shareholders of record by February 13, 2023. This distribution is part of the Fund's managed distribution plan. For the distribution period of February 2023, the sources include 92% from net investment income, with no contributions from capital gains. The Fund’s current fiscal year runs from November 1, 2022 to October 31, 2023. Shareholders should be aware that portions of the distribution may be considered a return of capital.

Positive

• Monthly distribution of $0.1380 per share confirmed.
• 92% of the distribution sourced from net investment income.

Negative

• No net realized short-term or long-term capital gains contributing to distribution.
• Partial return of capital indicated, suggesting potential sustainability concerns.

BOSTON, Feb. 28, 2023 /PRNewswire/ - John Hancock Tax-Advantaged Dividend Income Fund (NYSE: HTD) (the "Fund"), a closed-end fund managed by John Hancock Investment Management LLC and subadvised by Manulife Investment Management (US) LLC, announced today sources of its monthly distribution of $0.1380 per share paid to all shareholders of record as of February 13, 2023, pursuant to the Fund's managed distribution plan. This press release is issued as required by an exemptive order granted to the Fund by the U.S. Securities and Exchange Commission.   

Notification of Sources of Distribution

This notice provides shareholders of the John Hancock Tax-Advantaged Dividend Income Fund (NYSE: HTD) with important information concerning the distribution declared on February 1, 2023, and payable on February 28, 2023. No action is required on your part.

Distribution Period:	February 2023
Distribution Amount Per Common Share:	$0.1380

The following table sets forth the estimated sources of the current distribution, payable February 28, 2023, and the cumulative distributions paid this fiscal year to date from the following sources: net investment income; net realized short term capital gains; net realized long term capital gains; and return of capital or other capital source. All amounts are expressed on a per common share basis and as a percentage of the distribution amount.

		For the period 02/1/2023-02/28/2023				For the fiscal year-to-date period 11/1/2022-02/28/2023 1
Source		Current Distribution ($)		% Breakdown of the Current Distribution		Total Cumulative Distributions ($)		% Breakdown of the Total Cumulative Distributions
Net Investment Income		0.1267		92 %		0.3473		63 %
Net Realized Short-		0.0000		0 %		0.0572		10 %
Term Capital Gains
Net Realized Long- Term Capital Gains		0.0000		0 %		0.0393		7 %
Term Capital Gains
Return of Capital or		0.0113		8 %		0.1081		20 %
Other Capital Source
Total per common share		0.1380		100 %		0.5519		100 %
Average annual total return (in relation to NAV) for the 5 years ended on January 31, 2023								7.75 %
Annualized current distribution rate expressed as a percentage of NAV as of January 31, 2023								6.82 %
Cumulative total return (in relation to NAV) for the fiscal year through January 31, 2023								8.79 %
Cumulative fiscal year-to-date distribution rate expressed as a percentage of NAV as of January 31, 2023								2.27 %

 

_____________________________

1  The Fund's current fiscal year began on November 1, 2022 and will end on October 31, 2023.

You should not draw any conclusions about the Fund's investment performance from the amount of this distribution or from the terms of the Fund's managed distribution plan.

The Fund estimates that it has distributed more than its income and net realized capital gains; therefore, a portion of your distribution may be a return of capital.  A return of capital may occur, for example, when some or all of the money that you invested in the Fund is paid back to you.  A return of capital distribution does not necessarily reflect the Fund's investment performance and should not be confused with "yield" or "income."

The amounts and sources of distributions reported in this Notice are only estimates and are not being provided for tax reporting purposes.  The actual amounts and sources of the amounts for tax reporting purposes will depend upon the Fund's investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations.  The Fund will send you a Form 1099-DIV for the calendar year that will tell you how to report these distributions for federal income tax purposes.

The Fund has declared the February 2023 distribution pursuant to the Fund's managed distribution plan (the "Plan").  Under the Plan, the Fund makes fixed monthly distributions in the amount of $0.1380 per share, which will continue to be paid monthly until further notice.

If you have questions or need additional information, please contact your financial professional or call the John Hancock Investment Management Closed-End Fund Information Line at 1-800-843-0090, Monday through Friday between 8:00 a.m. and 7:00 p.m., Eastern Time.

Statements in this press release that are not historical facts are forward-looking statements as defined by the United States securities laws. You should exercise caution in interpreting and relying on forward-looking statements because they are subject to uncertainties and other factors which are, in some cases, beyond the Fund's control and could cause actual results to differ materially from those set forth in the forward-looking statements.

An investor should consider a Fund's investment objectives, risks, charges and expenses carefully before investing.

About John Hancock Investment Management
A company of Manulife Investment Management, we serve investors through a unique multimanager approach, complementing our extensive in-house capabilities with an unrivaled network of specialized asset managers, backed by some of the most rigorous investment oversight in the industry. The result is a diverse lineup of time-tested investments from a premier asset manager with a heritage of financial stewardship.

About Manulife Investment Management
Manulife Investment Management is the global brand for the global wealth and asset management segment of Manulife Financial Corporation. We draw on more than a century of financial stewardship and the full resources of our parent company to serve individuals, institutions, and retirement plan members worldwide. Headquartered in Toronto, our leading capabilities in public and private markets are strengthened by an investment footprint that spans 18 geographies. We complement these capabilities by providing access to a network of unaffiliated asset managers from around the world. We're committed to investing responsibly across our businesses. We develop innovative global frameworks for sustainable investing, collaboratively engage with companies in our securities portfolios, and maintain a high standard of stewardship where we own and operate assets, and we believe in supporting financial well-being through our workplace retirement plans. Today, plan sponsors around the world rely on our retirement plan administration and investment expertise to help their employees plan for, save for, and live a better retirement. Not all offerings are available in all jurisdictions. For additional information, please visit manulife.com.

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SOURCE John Hancock Investment Management

FAQ

What is the distribution amount for NYSE: HTD in February 2023?

The distribution amount for NYSE: HTD in February 2023 is $0.1380 per share.

When will the February 2023 distribution for NYSE: HTD be paid?

The February 2023 distribution for NYSE: HTD will be paid on February 28, 2023.

How is the February 2023 distribution for NYSE: HTD sourced?

The February 2023 distribution for NYSE: HTD is sourced primarily from 92% net investment income.

What is the current fiscal year period for NYSE: HTD?

The current fiscal year for NYSE: HTD runs from November 1, 2022, to October 31, 2023.

Is the distribution for NYSE: HTD a return of capital?

Yes, a portion of the distribution may be considered a return of capital.