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HPS

John Hancock Preferred Income Fund III (HPS) Dividend

John Hancock Preferred Income Fund III · Financial Services · Asset Management · monthly payer

$11.99

Fairly valued · +13% Add to Portfolio

As of Nov 11, 2026, John Hancock Preferred Income Fund III (HPS) pays a monthly dividend of $0.11 per share, or $1.32 a year, a 11.01% yield at its $11.99 share price. The next ex-dividend date is Nov 12, 2026, paid Nov 26, 2026. It has a dividend safety grade of C.

Forward Yield

11.01%

Annual Dividend

$1.32

Payout Ratio

242%

5-Yr Growth

0.0%

Ex-Date

Nov 12, 2026

Frequency

Monthly

Key facts about HPS's dividend

Data as of · Source: SmarterDividends data

  • As of Nov 11, 2026, John Hancock Preferred Income Fund III (HPS) has a forward dividend yield of 11.01%, based on an annual dividend of $1.32 per share and a share price of $11.99.
  • As of Nov 11, 2026, HPS's dividend safety grade from SmarterDividends is C (57 out of 100), which rates the dividend as borderline.
  • HPS last cut its regular dividend in 2020.
  • HPS's next ex-dividend date is Nov 12, 2026, with payment on Nov 26, 2026. Shares must be owned before that date to receive the dividend.
  • As of Nov 11, 2026, HPS pays out 242% of its trailing 12-month earnings as dividends (its payout ratio).
  • HPS's dividend has been roughly flat over the past five years.
  • As of Nov 11, 2026, HPS's 11.01% yield is 31% above its five-year average yield of 8.38%.
  • As of Nov 11, 2026, SmarterDividends' blended fair-value estimate for HPS is $13.54 per share, 13% above the $11.99 share price, so HPS screens as fairly valued.
  • John Hancock Preferred Income Fund III (HPS) pays its dividend monthly, 12 times a year.
  • John Hancock Preferred Income Fund III (HPS) has raised its regular dividend 1 time and cut it 5 times across the 279 payments on record since 2003. Its most recent change was a 9.8% cut to $0.110 per share, going ex-dividend on Oct 10, 2019.
Cite this page

SmarterDividends, "HPS Dividend: Yield, Safety Grade & Next Ex-Date," updated Nov 11, 2026, https://smarterdividends.com/stocks/HPS

Is HPS a good dividend stock?

Mixed

John Hancock Preferred Income Fund III (HPS) pays a monthly dividend yielding 11.01% ($1.32/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 (242%)
    • Very high yield can signal elevated risk
    • Share price is down over the past 5 years

    Key Data

    Dividend Yield
    11.01%
    Payout Ratio
    242%
    Annual Dividend
    $1.32
    5-Yr Avg Growth
    0.0%
    Ex-Dividend Date
    Nov 12, 2026
    Years of Growth
    0
    Frequency
    monthly
    Beta
    0.68
    Market Cap
    $385.0M
    P/E Ratio
    21.8
    5-Yr Total Return
    -37%
    52-Week Range
    $11.39 – $15.54
    Dividend Safety
    C · 57/100
    Ever Cut?
    Yes (2020)

    HPS dividend raises and cuts

    John Hancock Preferred Income Fund III (HPS) has raised its regular dividend 1 time and cut it 5 times across the 279 payments on record since 2003. Its most recent change was a 9.8% cut to $0.110 per share, going ex-dividend on Oct 10, 2019.

    Ex-dateChangeOld → newMove
    Oct 10, 2019Cut$0.122 → $0.110−9.8%
    Apr 10, 2012Raise$0.112 → $0.122+8.9%
    Mar 10, 2009Cut$0.132 → $0.112−15.2%
    Jan 11, 2006Cut$0.148 → $0.132−10.8%
    Jun 9, 2005Cut$0.159 → $0.148−6.9%
    Dec 9, 2004Cut$0.180 → $0.159−11.7%
    Every HPS payment →Download every raise and cut (CSV)
    HPS ex-dividend date & scheduleNext ex-date Nov 12, 2026 · full ex-dividend historyView →HPS dividend historyEvery payment, totals by year, raises and cutsView →HPS dividend calculator100 shares pay $132.00 a year, $11.00 each monthCalculate →HPS total return calculatorWhat $10,000 became, with dividends reinvested or taken as cashSee →

    Frequently Asked Questions

    Is HPS a good dividend stock?

    Mixed. John Hancock Preferred Income Fund III (HPS) pays a monthly dividend yielding 11.01% ($1.32/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 HPS undervalued?

    Based on a blend of discounted cash flow, a dividend-discount model and an earnings-multiple estimate, HPS's fair value is about $13.54 versus a $11.99 share price — so it looks fairly valued (+13% vs. fair value).

    Is HPS's dividend safe?

    HPS 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 HPS's fair value?

    Our blended fair-value estimate for HPS is about $13.54 per share, roughly 13% above the current $11.99 price — combining a discounted cash flow, a dividend-discount model and an earnings multiple.

    Is HPS a buy, hold, or sell?

    We don't issue formal ratings, but on the data HPS screens as "mixed" and fairly valued. John Hancock Preferred Income Fund III (HPS) pays a monthly dividend yielding 11.01% ($1.32/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 HPS cut its dividend?

    HPS 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 HPS pay a dividend?

    Yes. John Hancock Preferred Income Fund III pays a monthly dividend of about $1.32 per share annually, a forward yield of roughly 11.01%.

    How much dividend does 100 shares of HPS pay?

    At $1.32 per share a year, 100 shares of HPS pay $132.00 a year in dividends before tax, about $11.00 each month. Buying them costs about $1,199 at the Nov 11, 2026 price.

    What is HPS's dividend yield?

    As of Nov 11, 2026, HPS's forward dividend yield is 11.01%, based on a $1.32 annual dividend and a $11.99 share price.

    What is HPS's dividend per share?

    As of Nov 11, 2026, HPS pays $1.32 per share per year, distributed on a monthly basis.

    What is HPS's dividend payout ratio?

    As of Nov 11, 2026, HPS's payout ratio is 242% of trailing 12-month earnings — an elevated level worth watching, as it leaves less cushion if earnings dip.

    How many years has HPS grown its dividend?

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

    When is the next HPS ex-dividend date?

    As of Nov 11, 2026, the next ex-dividend date on record for HPS is Nov 12, 2026.

    Income Calculator

    At $1.32 / yr per share

    Per payment (monthly)$11.00
    Annual$132.00
    Monthly avg$11.00
    Full HPS dividend calculator →

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