Pioneer Investments Declares Monthly Distributions for Closed-End Funds

Pioneer Investments today announced the declaration of dividends for five closed-end funds for August 2009. The closing market price, annualized distribution rate and NAV distribution rate are based on data as of August 3, 2009.

    
      
        
          Ex Date:
        
        
           
        
        
           
        
        
           
        
        
           
        
        
          August 12, 2009
        
      
      
        
          Record Date:
        
        
        
        
        
        
        
        
        
        
          August 14, 2009
        
      
      
        
          Payable Date:
        
        
        
        
        
        
        
        
        
        
          August 31, 2009
        
      
      
        
        
        
        
        
        
        
        
        
        
        
           
        
      
    
    
      
        
          

Fund

Distribution

Market

Market Price

NAV

NAV

Price

Distribution

Distribution

Rate

Rate

Taxable

        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
      
      
        
          Pioneer High Income Trust (NYSE: PHT)
        
        
        
        
          $0.1375
        
        
        
        
        
        
        
        
          $11.75
        
        
        
        
        
        
        
        
          14.04%
        
        
        
        
        
        
        
        
          $10.55
        
        
        
        
        
        
        
        
          15.64%
        
      
      
        
          

Pioneer Floating Rate Trust (NYSE: PHD) (a)

        
        
        
        
          $0.0850
        
        
        
        
        
        
        
        
          $10.29
        
        
        
        
        
        
        
        
          9.91%
        
        
        
        
        
        
        
        
          $10.71
        
        
        
        
        
        
        
        
          9.52%
        
      
      
        
          Pioneer Diversified High Income Trust (NYSE Amex: HNW) (b) (c)
        
        
        
        
          $0.1600
        
        
        
        
        
        
        
        
          $17.18
        
        
        
        
        
        
        
        
          11.18%
        
        
        
        
        
        
        
        
          $16.89
        
        
        
        
        
        
        
        
          11.37%
        
      
      
        
           
        
      
      
        
          

Tax-Exempt

        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
      
      
        
          Pioneer Municipal High Income Trust (NYSE: MHI)
        
        
        
        
          $0.0750
        
        
        
        
        
        
        
        
          $11.92
        
        
        
        
        
        
        
        
          7.55%
        
        
        
        
        
        
        
        
          $11.78
        
        
        
        
        
        
        
        
          7.64%
        
      
      
        
          Pioneer Municipal High Income Advantage Trust (NYSE: MAV)
        
        
        
        
          $0.0750
        
        
        
        
        
        
        
        
          $10.83
        
        
        
        
        
        
        
        
          8.31%
        
        
        
        
        
        
        
        
          $10.11
        
        
        
        
        
        
        
        
          8.90%
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
           
        
      
    
    
      
        
        
        
           
        
        
          

Taxable-Equivalent

Taxable-Equivalent

Distribution Rate

Distribution Rate

at Market Price

at NAV

        
      
      
        
           
        
      
      
        
          Pioneer Municipal High Income Trust (NYSE: MHI)
        
        
        
        
          11.62%
        
        
        
        
        
        
        
        
          11.75%
        
      
      
        
          Pioneer Municipal High Income Advantage Trust (NYSE: MAV)
        
        
        
        
          12.78%
        
        
        
        
        
        
        
        
          13.69%
        
      
    
    

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

    
      
        
          (a) PHD’s August distribution represents a decrease of approximately 
          10.5% compared to the fund’s July distribution of $0.0950 per share. 
          This decrease is primarily due to declining yields on floating rate 
          securities and increased defaults.
        
      
      
        
          (b) HNW’s August distribution represents a 15.7% decline from the 
          July distribution. This decrease is primarily due to declining 
          yields on floating rate securities. Approximately 50% of the fund’s 
          assets were tied to floating rate securities on June 30, 2009.
        
      
      
        
          (c)At this time HNW believes that a portion of this distribution may 
          include a return of capital in addition to net investment income and 
          long-term capital gains. A return of capital is not a distribution 
          of income or capital gains from the fund, does not necessarily 
          reflect the fund's investment performance, and should not be 
          considered "yield" or "income." Further information on the 
          composition of the distribution will be made available on the 
          payment date and will be available at pioneerinvestments.com. The 
          final determination of tax characteristics of the fund’s 
          distributions will occur after the end of the year, at which time it 
          will be reported to shareholders.
        
      
    
    

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.

    
      
        
          © 2009 Pioneer Investment Management, Inc.
        
      
      
        
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