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Pioneer Closed-End Funds Required Notice to Shareholders Sources of Distribution Under Section 19(A)

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Pioneer Closed-End Funds reported distribution sources for May 2024 and the fiscal year to date. For May 2024, the Pioneer Municipal High Income Fund (MHI) distributed $0.0350 per share, with 84.3% from Net Investment Income and 15.7% from Return of Capital. Pioneer Municipal High Income Advantage Fund (MAV) distributed $0.0325 per share, with 83.7% from Net Investment Income and 16.3% from Return of Capital. Pioneer Municipal High Income Opportunities Fund (MIO) distributed $0.0500 per share, with 80% from Net Investment Income and 20% from Return of Capital. These distributions do not necessarily reflect the funds' investment performance and may include returns of capital. The funds trade under the symbols MAV, MHI, and MIO and are subject to market factors affecting distribution rates.

Positive
  • MHI distributed $0.0350 per share for May 2024.
  • MHI's distribution consists of 84.3% Net Investment Income, indicating a major portion comes from investment earnings.
  • The funds trade on NYSE, providing liquidity and accessibility to investors.
Negative
  • 15.7% of MHI's distribution is from Return of Capital, potentially indicating a return of invested funds rather than profits.
  • Distribution rates are not guaranteed and can be affected by various factors, posing a risk to income stability.
  • The funds frequently trade at prices lower than their Net Asset Value (NAV), potentially affecting investor returns.

BOSTON--(BUSINESS WIRE)-- The following closed-end funds reported sources of distribution for May and this fiscal year to date.

Distribution Period: May 2024

 

Ticker

Tax-Exempt Funds

Distribution Amount Per Share

MAV

Pioneer Municipal High Income Advantage Fund, Inc.

$0.0325

MHI

Pioneer Municipal High Income Fund, Inc.

$0.0350

MIO

Pioneer Municipal High Income Opportunities Fund, Inc.

$0.0500

The following tables set forth estimates of the character of the current distribution 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 or Return of Capital. All amounts are expressed per common share.

Pioneer Municipal High Income Advantage Fund, Inc. (NYSE: MAV)

 

 

 

Percentage

Total

Percentage Make up

 

 

Make up of

Cumulative

of Total Cumulative

 

Current

Current

Distributions

Distributions

 

Distribution

Distribution

Fiscal Year to Date

Fiscal Year to Date

Net Investment Income

$0.0272

 

83.7%

 

$0.0541

 

83.2%

Net Realized Short-Term Capital Gains

$0.0000

 

0.0%

 

$0.0000

 

0.0%

Net Realized Long-Term Capital Gains

$0.0000

 

0.0%

 

$0.0000

 

0.0%

Return of Capital

$0.0053

 

16.3%

 

$0.0109

 

16.8%

Total per Common Share

$0.0325

 

100.0%

 

$0.0650

 

100.0%

 

 

 

 

 

Pioneer Municipal High Income Fund, Inc. (NYSE: MHI)

 

 

 

Percentage

Total

Percentage Make up

 

 

Make up of

Cumulative

of Total Cumulative

 

Current

Current

Distributions

Distributions

 

Distribution

Distribution

Fiscal Year to Date

Fiscal Year to Date

Net Investment Income

$0.0295

 

84.3%

 

$0.0295

 

84.3%

Net Realized Short-Term Capital Gains

$0.0000

 

0.0%

 

$0.0000

 

0.0%

Net Realized Long-Term Capital Gains

$0.0000

 

0.0%

 

$0.0000

 

0.0%

Return of Capital

$0.0055

 

15.7%

 

$0.0055

 

15.7%

Total per Common Share

$0.0350

 

100.0%

 

$0.0350

 

100.0%

 

Pioneer Municipal High Income Opportunities Fund, Inc. (NYSE: MIO)

 

 

 

 

 

 

 

Percentage

Total

Percentage Make up

 

 

Make up of

Cumulative

of Total Cumulative

 

Current

Current

Distributions

Distributions

 

Distribution

Distribution

Fiscal Year to Date

Fiscal Year to Date

Net Investment Income

$0.0400

 

80.0%

 

$0.0400

 

80.0%

Net Realized Short-Term Capital Gains

$0.0000

 

0.0%

 

$0.0000

 

0.0%

Net Realized Long-Term Capital Gains

$0.0000

 

0.0%

 

$0.0000

 

0.0%

Return of Capital

$0.0100

 

20.0%

 

$0.0100

 

20.0%

Total per Common Share

$0.0500

 

100.0%

 

$0.0500

 

100.0%

Notes:

Investors should not necessarily draw any conclusions about the funds' investment performance from the amount of these distributions.

Each fund estimates that a portion of its distribution does not represent income or realized capital gains. Therefore, such portion of its distribution may be a return of capital. A return of capital may occur when some or all of the money invested in the fund is returned to the investor. A return of capital distribution does not necessarily reflect the fund's investment performance and should not be considered "yield" or "income."

The amounts and sources of distributions reported under the notice are only estimates and are not being provided for tax reporting purposes. The actual amounts and sources for tax reporting purposes will depend upon each fund's investment experience during the remainder of its respective fiscal year and may be subject to change based on tax regulations. Each fund will provide investors with a Form(s) 1099 for the calendar year that explains how to report these distributions for federal income tax purposes.

The funds are closed-end investment companies. The following funds trade on the New York Stock Exchange (NYSE) under the following symbols: MAV, MHI and MIO.

Keep in mind, distribution rates are not guaranteed. A fund’s distribution rate may be affected by numerous factors, including changes in actual or projected investment income, the level of undistributed net investment income, if any, and other factors. Closed-end funds, unlike open-end funds, are not continuously offered. 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 Amundi US’ closed-end funds, please call 800-225-6292 or visit our closed-end pricing page.

About Amundi US
Amundi US is the US business of Amundi, Europe’s largest asset manager by assets under management and ranked among the ten largest globally1. Boston is one of Amundi’s six main global investment hubs2 and offers a broad range of fixed-income, equity, and multi-asset investment solutions in close partnership with wealth management firms, distribution platforms, and institutional investors across the Americas, Europe, and Asia-Pacific.

With our financial and extra-financial research capabilities and long-standing commitment to responsible investment, Amundi is a key player in the asset management landscape. Amundi clients benefit from the expertise and advice of 5,5003 team members and market professionals in 35 countries3. A subsidiary of the Crédit Agricole group and listed on the Paris stock exchange, Amundi currently manages approximately $2.286 trillion of assets3.

Amundi, a Trusted Partner, working every day in the interest of our clients and society

www.amundi.com/us

Follow us on linkedin.com/company/amundi-us/ and twitter.com/amundi_us.

1 Source: IPE “Top 500 Asset Managers” published in June 2023, based on assets under management as of December 31, 2022.
2 Boston, Dublin, London, Milan, Paris, and Tokyo
3 Amundi data as of 3/31/2024

Shareholder Inquiries: Please contact your financial advisor or visit www.amundi.com/us.

Amundi Distributor US, Inc., Member SIPC
60 State Street, Boston, MA 02109
©2024 Amundi Asset Management US, Inc.

Broker/Advisor Inquiries Please Contact: 800-622-9876

Media Inquiries Please Contact: Geoff Smith, 617-504-8520

Source: Amundi US

FAQ

What distribution did Pioneer Municipal High Income Fund (MHI) announce for May 2024?

Pioneer Municipal High Income Fund (MHI) announced a distribution of $0.0350 per share for May 2024.

What percentage of MHI's distribution for May 2024 came from Net Investment Income?

84.3% of MHI's distribution for May 2024 came from Net Investment Income.

What portion of MHI's distribution is considered Return of Capital?

15.7% of MHI's distribution for May 2024 is considered Return of Capital.

Are the distribution rates announced by MHI guaranteed?

No, the distribution rates announced by MHI are not guaranteed and can be affected by various factors.

Do the distributions include returns of capital?

Yes, a portion of the distributions includes returns of capital, which may indicate returning invested funds to shareholders.

Where do Pioneer Closed-End Funds trade?

Pioneer Closed-End Funds trade on the New York Stock Exchange (NYSE) under symbols MAV, MHI, and MIO.

Pioneer Municipal High Income Fund, Inc.

NYSE:MHI

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