John Hancock Preferred Income Fund II owns preferred and other income securities. These holdings can pay attractive coupons, but company credit, redemption terms and interest rates affect both income and portfolio value.
Business
Preferred-stock funds
Listing
HPF · New York Stock Exchange
Reporting period
2026-01-31
Dividend schedule
Monthly
How the business works
Preferred dividends and bond interest become net investment income after expenses and financing costs. Security prices, calls and credit events affect NAV separately from that income line.
Extras are shown separately and are not assumed to repeat.
Reported earnings
Each measure shown separately, per share
Net investment income$1.05
Aug 1, 2024 to Jul 31, 2025
$0.00$1.05
Distribution yield10.02%Sourced distributions divided by dated market priceReported annual income yield6.55%Reported net investment income $1.0500 per share for 2024-08-01 to 2025-07-31, divided by approved 2025-07-31 market price $16.0400. Excludes capital gains; historical, not a current yield or forecast.Annual dividend$1.48Current regular payment annualized per share
Dividend payment history
Date or month
Per share
Sep 30, 2026
$0.1235
Reported earnings and sources
Reported earnings for the latest four periods. Compare the same earnings measure across periods; different measures are not added together.
Cash distributions are the total paid per share during each reporting period, including any gains or return of capital. Period lengths may differ, so compare the dates before comparing amounts. Short periods are not annualized.
NAV change excludes distributions. Reported NAV total return includes reinvestment and is copied from the fund statement, not estimated by adding cash distributions to the NAV change.
Distribution and NAV evidence
Cash paid, opening and closing NAV, and the fund-reported NAV total return are separate observations. NAV change excludes distributions. These figures show outcomes, not which source funded a payment or whether future distributions are sustainable. Net investment income excludes investment gains and is not a payout-coverage ratio. FY2024 net investment income is linked to this same fund's earlier SEC filing. The $1.48 cash figure in Financial Highlights rounds the exact $1.482 paid during that fiscal year; the historical cash-yield figure retains the precise amount. This is dated evidence, not an income-coverage verdict.
Fund net investment income per common share; actual reporting period, not annualized$0.5700
$0.00$0.60
For the six months ended January 31, 2026, HPF reported $0.57 of net investment income per common share and $0.74 of distributions. NAV moved from $15.88 to $15.96. Income provided a substantial part of the cash paid, while investment results and payment sources are needed to explain the rest.
Portfolio dividends and interest, realized investment results and any option activity contribute to distribution resources after expenses. A declared distribution can include gains or return of capital as well as investment income; its amount is not an earnings figure.
The earnings available to shareholders depend on the cash generated by these activities after operating and financing costs. Portfolio gains, financing proceeds and recurring income should be evaluated separately.
The portfolio information checked September 11, 2026 reports effective leverage of 39.66%.
Financing can increase earning assets, but its cost reduces income available to common shareholders. When borrowing costs rise or portfolio income falls, the distribution can become harder to sustain.
John Hancock Preferred Income Fund II reported $0.5700 per share for 2025-08-01 through 2026-01-31, measured as Fund net investment income per common share; actual reporting period, not annualized.
Actual per-share reporting period, without annualisation. Net investment income, realized gains, unrealized changes and cash distributions are different measures. This comparison is not the Fly High forward Dividend Coverage Ratio.
Losses or weaker cash generation in preferred-stock investments can reduce the resources available for future distributions.
Watch for changes in the underlying exposure and the next reported results before treating the current payment as evidence of continuing earnings support.
A maintained payment can exceed investment results. Review NAV and reported income together rather than treating distribution yield as total return.
Watch for changes in the underlying exposure and the next reported results before treating the current payment as evidence of continuing earnings support.
The next six-month report should show whether preferred payments and financing costs leave more recurring income for the distribution. Check credit, calls and NAV alongside the cash paid.
Net asset value (NAV)
NAV per share$14.08Sep 29, 2026Market price$13.49Sep 29, 2026PREMIUM / DISCOUNT TO NAV4.19% discountCalculated from the displayed same-date values.
NAV is the fund's assets minus liabilities, divided by shares outstanding. All values are USD per share.
CEFConnect current common-share NAV and closing market price, both dated 2026-09-29. The published premium or discount agrees with the calculation within source rounding. Older audited NAV history remains unchanged.
The next six-month report should show whether preferred payments and financing costs leave more recurring income for the distribution. Check credit, calls and NAV alongside the cash paid.
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U.S. federal · Tax year 2025
Dividend tax treatment
The fund's 2025 distributions included ordinary dividends and return of capital. The mix can change from year to year.
This company information is a guide, not your personal tax statement. Use your Form 1099-DIV when you file.
Ordinary, nonqualified
20.78%
Qualified dividends
57.05%
Capital-gain distributions
0%
Return of capital
22.17%
Tax year: 2025. Total distributions: $1.48 per share.
Tax details and source
Total ordinary dividends (includes qualified)
77.83%
Section 199A portion (within ordinary dividends)
0%
Exempt-interest distributions
0%
Reporting form
Form 1099-DIV
Source date
2026-01-20
Qualified dividends are included in total ordinary dividends. Section 199A is a separate designation within ordinary dividends, not extra income or qualified dividend income.
Your account type, holding period and circumstances affect treatment. Use your broker’s tax statement for filing. Return of capital generally reduces cost basis; amounts beyond basis can be taxable. IRS dividend guidance.
