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

Rhea-AI Summary

On May 31, 2024, John Hancock Tax-Advantaged Dividend Income Fund (NYSE: HTD) announced the sources of its monthly distribution of $0.1380 per share for May 2024. The record date for shareholders was May 13, 2024. The distribution breakdown includes 95% net investment income, 5% net realized short-term capital gains, and 0% return of capital. For the fiscal year-to-date period from November 1, 2023, to May 31, 2024, distributions per share totaled $0.9660, with 64% from net investment income, 16% from net realized short-term capital gains, and 20% from net realized long-term capital gains. The Fund has a 5-year average annual return on NAV of 4.16%, and an annualized current distribution rate of 7.63% as of April 30, 2024. The Fund operates under a managed distribution plan.

Positive

• Monthly distribution of $0.1380 per share declared for May 2024.
• 95% of the current distribution sourced from net investment income.
• No return of capital, indicating income-based distributions.
• 5-year average annual return on NAV is 4.16%.
• Annualized current distribution rate is 7.63% as of April 30, 2024.
• Cumulative total return for the fiscal year through April 30, 2024, is 19.14%.

Negative

• 5% of the current distribution is from net realized short-term capital gains, which may be less tax-advantaged.
• No long-term capital gains included in the current distribution.
• Distributions are based on estimates and not finalized for tax reporting purposes.

BOSTON, May 31, 2024 /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 May 13, 2024, 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 May 1, 2024, and payable on May 31, 2024. No action is required on your part.

Distribution Period:	May 2024
Distribution Amount Per Common Share:	$0.1380

The following table sets forth the estimated sources of the current distribution, payable May 31, 2024, 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 05/1/2024-05/31/2024				For the fiscal year-to-date period 11/1/2023-05/31/2024 1
Source		Current Distribution ($)		% Breakdown of the Current Distribution		Total Cumulative Distributions ($)		% Breakdown of the Total Cumulative Distributions
Net Investment Income		0.1317		95 %		0.6155		64 %
Net Realized Short- Term Capital Gains		0.0063		5 %		0.1572		16 %
Net Realized Long- Term Capital Gains		0.0000		0 %		0.1933		20 %
Return of Capital or Other Capital Source		0.0000		0 %		0.0000		0 %
Total per common share		0.1380		100 %		0.9660		100 %
1 The Fund's current fiscal year began on November 1, 2023 and will end on October 31, 2024.
Average annual total return (in relation to NAV) for the 5 years ended on April 30, 2024								4.16 %
Annualized current distribution rate expressed as a percentage of NAV as of April 30, 2024								7.63 %
Cumulative total return (in relation to NAV) for the fiscal year through April 30, 2024								19.14 %
Cumulative fiscal year-to-date distribution rate expressed as a percentage of NAV as of April 30, 2024								4.45 %

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 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 May 2024 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 monthly distribution amount for John Hancock Tax-Advantaged Dividend Income Fund in May 2024?

The monthly distribution amount for May 2024 is $0.1380 per share.

What percentage of the May 2024 distribution for HTD is from net investment income?

95% of the May 2024 distribution is from net investment income.

Are there any long-term capital gains included in HTD's May 2024 distribution?

No, there are no long-term capital gains included in the May 2024 distribution.

What is the average annual return on NAV for HTD over the last 5 years?

The average annual return on NAV over the last 5 years is 4.16%.

What is the annualized current distribution rate for HTD as of April 30, 2024?

The annualized current distribution rate as of April 30, 2024, is 7.63%.

What is the cumulative total return for HTD for the fiscal year through April 30, 2024?

The cumulative total return for the fiscal year through April 30, 2024, is 19.14%.