SmarterDividends
HPF

John Hancock Preferred Income Fund II

HPF

Financial Services · Asset Management · Stock · monthly payer

$13.10

Undervalued · +15% Add to Portfolio

Forward Yield

11.31%

Annual Dividend

$1.48

Payout Ratio

247%

5-Yr Growth

0.0%

Ex-Date

Oct 13, 2026

Frequency

Monthly

Key facts about HPF's dividend

Data as of · Source: SmarterDividends data

  • As of Oct 18, 2026, John Hancock Preferred Income Fund II (HPF) has a forward dividend yield of 11.31%, based on an annual dividend of $1.48 per share and a share price of $13.10.
  • As of Oct 18, 2026, HPF's dividend safety grade from SmarterDividends is C (57 out of 100), which rates the dividend as borderline.
  • HPF last cut its regular dividend in 2020.
  • HPF's most recent ex-dividend date was Oct 13, 2026, for a dividend of $0.12 per share.
  • As of Oct 18, 2026, HPF pays out 247% of its trailing 12-month earnings as dividends (its payout ratio).
  • HPF's dividend has been roughly flat over the past five years.
  • As of Oct 18, 2026, HPF's 11.31% yield is 32% above its five-year average yield of 8.59%.
  • As of Oct 18, 2026, SmarterDividends' blended fair-value estimate for HPF is $15.12 per share, 15% above the $13.10 share price, so HPF screens as undervalued.
  • John Hancock Preferred Income Fund II (HPF) pays its dividend monthly, 12 times a year.
  • John Hancock Preferred Income Fund II (HPF) has raised its regular dividend 2 times and cut it 4 times across the 286 payments on record since 2003. Its most recent change was a 11.4% cut to $0.124 per share, going ex-dividend on Oct 10, 2019.
Cite this page

SmarterDividends, "HPF Dividend: Yield, Safety Grade & Next Ex-Date," updated Oct 18, 2026, https://smarterdividends.com/stocks/HPF

Summary

As of Oct 18, 2026, John Hancock Preferred Income Fund II (HPF) yields 11.31% ($1.48 a year per share) and has a dividend safety grade of C (57/100).

Is HPF a good dividend stock?

Mixed

John Hancock Preferred Income Fund II (HPF) pays a monthly dividend yielding 11.31% ($1.48/yr), with 0 years of growth and a dividend-safety grade of C. The picture is mixed — the dividend pays, but safety or growth signals are weaker than ideal.

Advantages

    Risks

    • Cut its dividend in 2020
    • Elevated payout ratio (247%)
    • Very high yield can signal elevated risk
    • Share price is down over the past 5 years

    Key Data

    Dividend Yield
    11.31%
    Payout Ratio
    247%
    Annual Dividend
    $1.48
    5-Yr Avg Growth
    0.0%
    Ex-Dividend Date
    Oct 13, 2026
    Years of Growth
    0
    Frequency
    monthly
    Beta
    0.66
    Market Cap
    $284.1M
    P/E Ratio
    21.8
    5-Yr Total Return
    -38%
    52-Week Range
    $12.67 – $16.84
    Dividend Safety
    C · 57/100
    Ever Cut?
    Yes (2020)

    HPF dividend raises and cuts

    John Hancock Preferred Income Fund II (HPF) has raised its regular dividend 2 times and cut it 4 times across the 286 payments on record since 2003. Its most recent change was a 11.4% cut to $0.124 per share, going ex-dividend on Oct 10, 2019.

    Ex-dateChangeOld → newMove
    Oct 10, 2019Cut$0.140 → $0.124−11.4%
    May 10, 2011Raise$0.124 → $0.140+12.9%
    Mar 10, 2009Cut$0.155 → $0.124−20.0%
    Jan 10, 2008Cut$0.161 → $0.155−3.7%
    Dec 11, 2007Raise$0.155 → $0.161+3.9%
    Feb 17, 2005Cut$0.180 → $0.155−13.9%
    Every HPF payment →Download every raise and cut (CSV)
    HPF ex-dividend date & scheduleNext ex-date Oct 13, 2026 · full ex-dividend historyView →HPF dividend historyEvery payment, totals by year, raises and cutsView →

    Frequently Asked Questions

    Is HPF a good dividend stock?

    Mixed. John Hancock Preferred Income Fund II (HPF) pays a monthly dividend yielding 11.31% ($1.48/yr), with 0 years of growth and a dividend-safety grade of C. The picture is mixed — the dividend pays, but safety or growth signals are weaker than ideal.

    Is HPF undervalued?

    Based on a blend of discounted cash flow, a dividend-discount model and an earnings-multiple estimate, HPF's fair value is about $15.12 versus a $13.10 share price — so it looks undervalued (+15% vs. fair value).

    Is HPF's dividend safe?

    HPF has a dividend-safety grade of C (57/100), based on its payout coverage, free-cash-flow, 0-year growth streak, a dividend cut in 2020, debt and yield-versus-history.

    What is HPF's fair value?

    Our blended fair-value estimate for HPF is about $15.12 per share, roughly 15% above the current $13.10 price — combining a discounted cash flow, a dividend-discount model and an earnings multiple.

    Is HPF a buy, hold, or sell?

    We don't issue formal ratings, but on the data HPF screens as "mixed" and undervalued. John Hancock Preferred Income Fund II (HPF) pays a monthly dividend yielding 11.31% ($1.48/yr), with 0 years of growth and a dividend-safety grade of C. The picture is mixed — the dividend pays, but safety or growth signals are weaker than ideal. This is research for your own analysis, not investment advice.

    Will HPF cut its dividend?

    HPF earns a dividend-safety grade of C (57/100), and has cut its dividend before (last in 2020). A higher score means lower cut risk based on payout coverage, cash flow and history — but no score guarantees a dividend.

    Does HPF pay a dividend?

    Yes. John Hancock Preferred Income Fund II pays a monthly dividend of about $1.48 per share annually, a forward yield of roughly 11.31%.

    What is HPF's dividend yield?

    As of Oct 18, 2026, HPF's forward dividend yield is 11.31%, based on a $1.48 annual dividend and a $13.10 share price.

    What is HPF's dividend per share?

    As of Oct 18, 2026, HPF pays $1.48 per share per year, distributed on a monthly basis.

    What is HPF's dividend payout ratio?

    As of Oct 18, 2026, HPF's payout ratio is 247% of trailing 12-month earnings — an elevated level worth watching, as it leaves less cushion if earnings dip.

    How many years has HPF grown its dividend?

    HPF does not currently have a long dividend-growth streak on record.

    When is the next HPF ex-dividend date?

    As of Oct 18, 2026, HPF's next ex-dividend date hasn't been announced. The most recent was Oct 13, 2026, for $0.12 per share.

    Income Calculator

    At $1.48 / yr per share

    Per payment (monthly)$12.33
    Annual$148.00
    Monthly avg$12.33

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