John Hancock Preferred Income Fund II
HPFFinancial Services · Stock · monthly payer
Forward Yield
9.30%
Annual Dividend
$1.48
Payout Ratio
114%
5-Yr Growth
0.0%
Ex-Date
Aug 13, 2026
Frequency
Monthly
Summary
As of August 2026, John Hancock Preferred Income Fund II (HPF) yields 9.30% ($1.48 per share annually), with a blended fair-value estimate of $17.93 — +13% upside, so it screens as fairly valued. Dividend safety grade: C (61/100).
Is HPF a good dividend stock?
Yes, with caveatsJohn Hancock Preferred Income Fund II (HPF) pays a monthly dividend yielding 9.30% ($1.48/yr), with 0 years of growth and a dividend-safety grade of C. It's a solid income payer, but check the caveats below before buying.
Advantages
Risks
- Cut its dividend in 2020
- Elevated payout ratio (114%)
- Very high yield can signal elevated risk
- Share price is down over the past 5 years
Key Data
- Dividend Yield
- 9.30%
- Payout Ratio
- 114%
- Annual Dividend
- $1.48
- 5-Yr Avg Growth
- 0.0%
- Ex-Dividend Date
- Aug 13, 2026
- Years of Growth
- 0
- Frequency
- monthly
- Beta
- 0.65
- Market Cap
- $345.3M
- P/E Ratio
- 12.3
- 5-Yr Total Return
- -30%
- 52-Week Range
- $15.07 – $17.13
- Dividend Safety
- C · 61/100
- Ever Cut?
- Yes (2020)
Frequently Asked Questions
HPF Price — Last 12 Months
Daily close
Price Return
1 Year
-1%
3 Years
+5%
5 Years
-30%
52-Week Range
$15.07 – $17.13
Price change over each period (excludes dividends). Past performance doesn't guarantee future results.
What is HPF worth?
Fairly valuedmedium confidenceOur blended fair-value estimate for John Hancock Preferred Income Fund II is $17.93 per share, versus a market price of $15.92. That implies the stock is roughly fairly priced.
Fair Value
$17.93
Current Price
$15.92
Gap
+13%
Margin of Safety
11%
How we get there
Discounted cash flow
Discounts projected free cash flow back to today.
Dividend discount
Discounts the future dividend stream back to today.
Earnings multiple (Graham)
Graham's earnings-multiple formula, anchored to bond yields.
At today's price, the market is pricing in about -0.3% annual free-cash-flow growth. We model 0.0% — below our estimate, leaving room for upside if the business executes.
Assumptions: 7.5% discount rate (CAPM), 0.0% stage-1 growth, 2.5% terminal growth, $1.30 EPS, $1.48 annual dividend. Updated weekly.
Fair-value estimates are model output for educational purposes only — not investment advice or a price target.
HPF Dividend Safety Score
Borderline
SmarterDividends' proprietary score, backtested against which dividends were actually cut over 15+ years (0.78 AUC). It blends a validated cut-risk model (growth streak, cut history) with current payout, cash-flow and debt. Higher is safer · not investment advice.
Dividend Growth
Total dividends per share by year
Dividend History
| Ex-Date | Pay Date | Amount | Type |
|---|---|---|---|
| Jul 13, 2026 | — | $0.1240 | regular |
| Jun 11, 2026 | — | $0.1240 | regular |
| May 11, 2026 | — | $0.1240 | regular |
| Apr 13, 2026 | — | $0.1240 | regular |
| Mar 12, 2026 | — | $0.1240 | regular |
| Feb 12, 2026 | — | $0.1240 | regular |
| Jan 12, 2026 | — | $0.1240 | regular |
| Dec 11, 2025 | — | $0.1240 | regular |
| Nov 13, 2025 | — | $0.1240 | regular |
| Oct 14, 2025 | — | $0.1240 | regular |
| Sep 12, 2025 | — | $0.1240 | regular |
| Aug 11, 2025 | — | $0.1240 | regular |
| Jul 11, 2025 | — | $0.1240 | regular |
| Jun 12, 2025 | — | $0.1240 | regular |
Income Calculator
At $1.48 / yr per share
