Loading...

Pioneer Diversified High Income Trust

AMEX:HNW
Snowflake Description

Imperfect balance sheet unattractive dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
HNW
AMEX
$118M
Market Cap
  1. Home
  2. US
  3. Diversified Financials
Company description

Pioneer Diversified High Income Trust is a closed ended fixed income mutual fund launched and managed by Pioneer Investment Management, Inc. The last earnings update was 112 days ago. More info.


Add to Portfolio Compare Print
  • Pioneer Diversified High Income Trust is a fund or ETF! Currently our data availability for these is poor, we only recommend using them as part of a portfolio.
HNW Share Price and Events
7 Day Returns
-1.5%
AMEX:HNW
3%
US Capital Markets
0.8%
US Market
1 Year Returns
-4.2%
AMEX:HNW
-6.1%
US Capital Markets
5.9%
US Market
HNW Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Pioneer Diversified High Income Trust (HNW) -1.5% 0.6% 5% -4.2% -8.7% -31.3%
US Capital Markets 3% 3.6% 5.5% -6.1% 57.3% 69.2%
US Market 0.8% 2.6% 10.6% 5.9% 37.7% 45.5%
1 Year Return vs Industry and Market
  • HNW outperformed the Capital Markets industry which returned -6.1% over the past year.
  • HNW underperformed the Market in United States of America which returned 5.9% over the past year.

HNW Value

 Is Pioneer Diversified High Income Trust undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Pioneer Diversified High Income Trust to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Pioneer Diversified High Income Trust.

AMEX:HNW Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Median Return on Equity from the past 5 years.
= Stable Book Value * Return on Equity
= $17.09 * 4.4%
$0.74
Book Value of Equity per Share Median Book Value from the past 5 years. $17.09
Discount Rate (Cost of Equity) See below 8.8%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for AMEX:HNW
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
Capital Markets Unlevered Beta Simply Wall St/ S&P Global 0.73
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.727 (1 + (1- 21%) (54.18%))
1.026
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.03
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (1.026 * 5.96%)
8.84%

Discounted Cash Flow Calculation for AMEX:HNW using Excess Returns Model Model

The calculations below outline how an intrinsic value for Pioneer Diversified High Income Trust is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

AMEX:HNW Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (4.4% – 8.84%) * $17.09)
$-0.77
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= $-0.77 / (8.84% - 2.73%)
$-12.53
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= $17.09 + $-12.53
$4.55
AMEX:HNW Discount to Share Price
Calculation Result
Value per share (USD) From above. $4.55
Current discount Discount to share price of $14.21
= -1 x ($14.21 - $4.55) / $4.55
-212.2%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Pioneer Diversified High Income Trust is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Pioneer Diversified High Income Trust's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Pioneer Diversified High Income Trust's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
AMEX:HNW PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-10-31) in USD $0.19
AMEX:HNW Share Price ** AMEX (2019-04-18) in USD $14.21
United States of America Capital Markets Industry PE Ratio Median Figure of 88 Publicly-Listed Capital Markets Companies 30.03x
United States of America Market PE Ratio Median Figure of 3,078 Publicly-Listed Companies 18.23x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Pioneer Diversified High Income Trust.

AMEX:HNW PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= AMEX:HNW Share Price ÷ EPS (both in USD)

= 14.21 ÷ 0.19

76.5x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Pioneer Diversified High Income Trust is overvalued based on earnings compared to the US Capital Markets industry average.
  • Pioneer Diversified High Income Trust is overvalued based on earnings compared to the United States of America market.
Price based on expected Growth
Does Pioneer Diversified High Income Trust's expected growth come at a high price?
Raw Data
AMEX:HNW PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 76.5x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
Not available
United States of America Capital Markets Industry PEG Ratio Median Figure of 34 Publicly-Listed Capital Markets Companies 2.32x
United States of America Market PEG Ratio Median Figure of 2,108 Publicly-Listed Companies 1.56x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for Pioneer Diversified High Income Trust, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Pioneer Diversified High Income Trust's assets?
Raw Data
AMEX:HNW PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-10-31) in USD $16.49
AMEX:HNW Share Price * AMEX (2019-04-18) in USD $14.21
United States of America Capital Markets Industry PB Ratio Median Figure of 166 Publicly-Listed Capital Markets Companies 6.42x
United States of America Market PB Ratio Median Figure of 5,172 Publicly-Listed Companies 1.93x
AMEX:HNW PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= AMEX:HNW Share Price ÷ Book Value per Share (both in USD)

= 14.21 ÷ 16.49

0.86x

* Primary Listing of Pioneer Diversified High Income Trust.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Pioneer Diversified High Income Trust is good value based on assets compared to the US Capital Markets industry average.
X
Value checks
We assess Pioneer Diversified High Income Trust's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Capital Markets industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Capital Markets industry average (and greater than 0)? (1 check)
  5. Pioneer Diversified High Income Trust has a total score of 1/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

HNW Future Performance

 How is Pioneer Diversified High Income Trust expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Pioneer Diversified High Income Trust has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by Simply Wall St do have past financial data. You can see them here.

Show me the analysis anyway

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
6.8%
Expected Capital Markets industry annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Pioneer Diversified High Income Trust expected to grow at an attractive rate?
  • Unable to compare Pioneer Diversified High Income Trust's earnings growth to the low risk savings rate as no estimate data is available.
Growth vs Market Checks
  • Unable to compare Pioneer Diversified High Income Trust's earnings growth to the United States of America market average as no estimate data is available.
  • Unable to compare Pioneer Diversified High Income Trust's revenue growth to the United States of America market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
AMEX:HNW Future Growth Rates Data Sources
Data Point Source Value (per year)
United States of America Capital Markets Industry Earnings Growth Rate Market Cap Weighted Average 6.8%
United States of America Capital Markets Industry Revenue Growth Rate Market Cap Weighted Average 3.8%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 13.3%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
AMEX:HNW Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (5 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
AMEX:HNW Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2018-10-31 15 11 2
2018-07-31 14 8 4
2018-04-30 14 4 6
2018-01-31 14 4 9
2017-10-31 14 3 13
2017-07-31 14 7 17
2017-04-30 14 12 21
2017-01-31 14 13 18
2016-10-31 15 14 15
2016-07-31 15 16 6
2016-04-30 16 18 -2
2016-01-31 16 19 -4

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Unable to determine if Pioneer Diversified High Income Trust is high growth as no earnings estimate data is available.
  • Unable to determine if Pioneer Diversified High Income Trust is high growth as no revenue estimate data is available.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
AMEX:HNW Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (5 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from Pioneer Diversified High Income Trust Company Filings, last reported 5 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

AMEX:HNW Past Financials Data
Date (Data in USD Millions) EPS *
2018-10-31 0.19
2018-07-31 0.43
2018-04-30 0.67
2018-01-31 1.10
2017-10-31 1.53
2017-07-31 2.01
2017-04-30 2.49
2017-01-31 2.12
2016-10-31 1.75
2016-07-31 0.74
2016-04-30 -0.26
2016-01-31 -0.44

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Pioneer Diversified High Income Trust will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Pioneer Diversified High Income Trust's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Pioneer Diversified High Income Trust has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

HNW Past Performance

  How has Pioneer Diversified High Income Trust performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Pioneer Diversified High Income Trust's growth in the last year to its industry (Capital Markets).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Pioneer Diversified High Income Trust's year on year earnings growth rate was negative over the past 5 years and the most recent earnings are below average.
  • Pioneer Diversified High Income Trust's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Pioneer Diversified High Income Trust's 1-year earnings growth is negative, it can't be compared to the US Capital Markets industry average.
Earnings and Revenue History
Pioneer Diversified High Income Trust's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Pioneer Diversified High Income Trust Company Filings, last reported 5 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

AMEX:HNW Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-10-31 14.62 1.55 2.08
2018-07-31 14.30 3.55 2.12
2018-04-30 13.98 5.56 2.15
2018-01-31 13.89 9.16 2.17
2017-10-31 13.81 12.76 2.20
2017-07-31 13.82 16.76 2.17
2017-04-30 13.82 20.76 2.15
2017-01-31 14.36 17.69 2.09
2016-10-31 14.90 14.62 2.03
2016-07-31 15.29 6.21 2.06
2016-04-30 15.69 -2.21 2.09
2016-01-31 15.98 -3.70 2.14
2015-10-31 16.27 -5.19 2.19
2015-07-31 17.19 -1.77 2.23
2015-04-30 18.11 1.66 2.26
2015-01-31 18.67 6.06 2.30
2014-10-31 19.23 10.46 2.34
2014-07-31 19.39 11.94 2.34
2014-04-30 19.56 13.41 2.35
2014-01-31 20.11 16.09 2.40
2013-10-31 20.67 18.76 2.45
2013-07-31 21.22 22.78 2.45
2013-04-30 21.76 26.79 2.45
2013-01-31 21.57 24.76 2.39
2012-10-31 21.38 22.73 2.32
2012-07-31 21.00 13.25 2.36
2012-04-30 20.62 3.76 2.39

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Pioneer Diversified High Income Trust has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Pioneer Diversified High Income Trust used its assets more efficiently than the US Capital Markets industry average last year based on Return on Assets.
  • Pioneer Diversified High Income Trust's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Pioneer Diversified High Income Trust's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Capital Markets industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Pioneer Diversified High Income Trust has a total score of 1/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

HNW Health

 How is Pioneer Diversified High Income Trust's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Pioneer Diversified High Income Trust's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Pioneer Diversified High Income Trust's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Pioneer Diversified High Income Trust's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Pioneer Diversified High Income Trust's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is not covered by short term assets, assets are 0.1x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Pioneer Diversified High Income Trust Company Filings, last reported 5 months ago.

AMEX:HNW Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-10-31 137.38 64.16 1.80
2018-07-31 137.38 64.16 1.80
2018-04-30 142.37 64.00 0.67
2018-01-31 142.37 64.00 0.67
2017-10-31 145.33 64.28 0.01
2017-07-31 145.33 64.28 0.01
2017-04-30 147.31 57.66 0.01
2017-01-31 147.31 57.66 0.01
2016-10-31 144.60 57.00 1.61
2016-07-31 144.60 57.00 1.61
2016-04-30 138.57 57.39 0.00
2016-01-31 138.57 57.39 0.00
2015-10-31 141.48 64.00 6.09
2015-07-31 141.48 64.00 6.09
2015-04-30 153.28 65.32 2.73
2015-01-31 153.28 65.32 2.73
2014-10-31 160.66 67.00 5.65
2014-07-31 160.66 67.00 5.65
2014-04-30 166.61 67.00
2014-01-31 166.61 67.00
2013-10-31 168.65 69.00 0.65
2013-07-31 168.65 69.00 0.65
2013-04-30 171.65 69.00 0.72
2013-01-31 171.65 69.00 0.72
2012-10-31 166.29 69.00 0.03
2012-07-31 166.29 69.00 0.03
2012-04-30 161.15 69.00 5.50
  • Pioneer Diversified High Income Trust's level of debt (46.7%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (40.9% vs 46.7% today).
  • Debt is not well covered by operating cash flow (17.9%, less than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 7x coverage).
X
Financial health checks
We assess Pioneer Diversified High Income Trust's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Pioneer Diversified High Income Trust has a total score of 2/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

HNW Dividends

 What is Pioneer Diversified High Income Trust's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
8.02%
Current annual income from Pioneer Diversified High Income Trust dividends.
If you bought $2,000 of Pioneer Diversified High Income Trust shares you are expected to receive $160 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Pioneer Diversified High Income Trust's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.4%).
  • Pioneer Diversified High Income Trust's dividend is above the markets top 25% of dividend payers in United States of America (3.63%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
AMEX:HNW Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
United States of America Capital Markets Industry Average Dividend Yield Market Cap Weighted Average of 43 Stocks 2%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2009 Stocks 2.4%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.4%
United States of America Top 25% Dividend Yield 75th Percentile 3.6%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

AMEX:HNW Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-04-04 1.140 7.943
2019-03-05 1.140 8.064
2019-02-05 1.140 8.192
2018-12-18 1.140 8.529
2018-12-03 1.140 8.535
2018-11-05 1.140 8.248
2018-10-03 1.140 8.076
2018-09-05 1.140 7.782
2018-08-03 1.140 7.790
2018-07-03 1.140 7.917
2018-06-04 1.140 7.788
2018-05-04 1.140 7.699
2018-04-04 1.140 7.628
2018-03-02 1.140 7.571
2018-02-05 1.140 7.475
2018-01-04 1.140 7.311
2017-12-04 1.140 7.264
2017-11-03 1.140 7.268
2017-10-04 1.380 8.472
2017-09-05 1.380 8.445
2017-08-03 1.380 8.368
2017-07-05 1.380 8.377
2017-06-02 1.380 8.379
2017-05-03 1.380 8.284
2017-04-04 1.380 8.364
2017-02-03 1.380 8.540
2016-12-20 1.380 8.549
2016-12-02 1.380 8.702
2016-11-03 1.380 8.825
2016-10-04 1.380 8.568
2016-09-02 1.380 8.452
2016-08-03 1.380 8.377
2016-07-05 1.380 8.654
2016-05-03 1.380 8.866
2016-04-04 1.380 8.880
2016-03-03 1.380 9.129
2016-02-04 1.380 9.910
2015-12-03 1.380 9.743
2015-11-03 1.380 9.636
2015-10-02 1.620 10.714
2015-09-02 1.620 10.865
2015-08-04 1.620 10.559
2015-07-02 1.620 10.025
2015-06-02 1.620 9.612
2015-05-05 1.620 9.306
2015-04-06 1.620 9.287
2015-03-03 1.620 9.321
2015-02-03 1.620 9.312
2014-12-19 1.620 9.325
2014-11-04 1.620 8.893
2014-10-03 1.920 9.464
2014-09-03 1.920 9.504
2014-08-05 1.920 9.251
2014-07-03 1.920 9.062
2014-05-05 1.920 9.134
2014-04-03 1.920 9.376
2014-03-04 1.920 9.477
2014-02-04 1.920 9.372
2013-12-03 1.920 9.383
2013-11-05 1.920 9.164
2013-10-04 1.920 9.101
2013-09-04 1.920 9.450
2013-08-05 1.920 9.824
2013-07-03 1.920 9.561
2013-06-04 1.920 9.396
2013-05-03 1.920 8.665
2013-04-03 1.920 8.755
2013-03-05 1.920 8.894
2013-02-05 1.920 9.002
2012-12-21 1.920 9.283
2012-11-05 1.920 9.412
2012-06-29 1.960 9.325
2011-12-30 1.920 9.600
2011-06-29 1.920 9.910
2010-06-29 1.686 8.058
2009-06-29 2.469 13.584
2009-04-20 1.780 12.294

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have fallen over the past 10 years.
Current Payout to shareholders
What portion of Pioneer Diversified High Income Trust's earnings are paid to the shareholders as a dividend.
  • Dividends paid are not well covered by earnings (0.2x coverage).
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Pioneer Diversified High Income Trust's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Pioneer Diversified High Income Trust afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Pioneer Diversified High Income Trust has a total score of 2/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

HNW Management

 What is the CEO of Pioneer Diversified High Income Trust's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Lisa Jones
CEO Bio

Ms. Lisa M. Jones is Head of the Americas (USA, Canada, Amerique Latine) at Amundi SA since April 2018 and was its Head of Americas until april 2018. Ms. Jones is Head of Americas at Amundi Group since July 2017. She serves as the Chief Executive Officer, President of U.S. and Head of Americas at Amundi Pioneer Asset Management, Inc. Ms. Jones has been the Chief Executive Officer and President at Pioneer Investment Management, Inc. since August 11, 2014 and serves as its Chairman. Ms. Jones Joined Pioneer Investment Management, Inc. in 2014. She serves as the Chief Executive Officer, Head of U.S. Division and President at Pioneer Investment Management USA Inc. Previously, Ms. Jones served as an Executive Vice President of Global Business Development at MFS Institutional Advisors, Inc. She has more than 16 years of experience at MFS Investment Management, where she held leadership roles in both the retail and institutional divisions. Prior to this, Ms. Jones served as the Global Head of Distribution at Morgan Stanley Investment Management Inc. until 2013 and served as its Global Head of Sales. She also served as the President of MSIM Distribution Inc. In this role, she oversaw all MSIM distribution channels globally, including retail and institutional. She also served as the Head of Institutional and International Distribution at Eaton Vance Corp. until May 2010. Ms. Jones served as the Head of Institutional Business at Eaton Vance Management. She began her career at E.F. Hutton & Co. Lisa is a member of the Board of Governors of the Investment Company Institute and a trustee at the Pingree School Board of Trustees. Lisa has served on the Advisory Board of the Institutional Investor Institute and the Board of Fellows at Trinity College. She has over 25 years of experience in global financial services developing and building asset management businesses. She earned a B.A. in Economics from Trinity College in 1984.

CEO Compensation
  • Insufficient data for Lisa to compare compensation growth.
  • Insufficient data for Lisa to establish whether their remuneration is reasonable compared to companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the Pioneer Diversified High Income Trust management team in years:

9.7
Average Tenure
55
Average Age
  • The average tenure for the Pioneer Diversified High Income Trust management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Lisa Jones

TITLE
Chief Executive Officer and President

Jean Bradley

TITLE
Chief Compliance Officer
AGE
65
TENURE
9.1 yrs

Christopher Kelley

TITLE
Secretary
AGE
53
TENURE
8.8 yrs

Mark Bradley

TITLE
Treasurer
AGE
58
TENURE
11.1 yrs

David Sinnott

TITLE
Portfolio Manager

Kelly O'Donnell

TITLE
Anti-Money Laundering Officer
AGE
47
TENURE
13.3 yrs

Gary Sullivan

TITLE
Assistant Treasurer
AGE
60

Luis Presutti

TITLE
Assistant Treasurer
AGE
53

David Johnson

TITLE
Assistant Treasurer
AGE
38
TENURE
10.3 yrs

Carol Hannigan

TITLE
Assistant Secretary
AGE
57
TENURE
8.8 yrs
Board of Directors Tenure

Average tenure and age of the Pioneer Diversified High Income Trust board of directors in years:

11.3
Average Tenure
70
Average Age
  • The average tenure for the Pioneer Diversified High Income Trust board of directors is over 10 years, this suggests they are a seasoned and experienced board.
Board of Directors

Thomas Perna

TITLE
Chairman
COMPENSATION
$1,000
AGE
68
TENURE
6.9 yrs

Marguerite Piret

TITLE
Independent Trustee
COMPENSATION
$1,000
AGE
70
TENURE
12.3 yrs

Margaret B. Graham

TITLE
Independent Trustee
COMPENSATION
$1,000
AGE
71
TENURE
12.3 yrs

David Bock

TITLE
Independent Trustee
COMPENSATION
$1,000
AGE
74
TENURE
12.3 yrs

Benjamin Friedman

TITLE
Independent Trustee
COMPENSATION
$1,000
AGE
73
TENURE
11.3 yrs

Marc Mayer

TITLE
Independent Trustee
AGE
60
TENURE
5.3 yrs

Ken Taubes

TITLE
Interested Trustee
AGE
60
TENURE
5.3 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
X
Management checks
We assess Pioneer Diversified High Income Trust's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Pioneer Diversified High Income Trust has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

HNW News

Simply Wall St News

HNW Company Info

Description

Pioneer Diversified High Income Trust is a closed ended fixed income mutual fund launched and managed by Pioneer Investment Management, Inc. It invests in the fixed income markets across the globe. The fund seeks to invest in higher yielding asset classes, including high yield bonds, leveraged bank loans, and event-linked bonds .It employs a combination of fundamental and quantitative analysis to create its portfolio. The fund benchmarks the performance of its portfolio against a composite benchmark comprising of 50% Bank of America Merrill Lynch Global High Yield, Emerging Markets Plus Index and 50% the Credit Suisse Leveraged Loan Index. Pioneer Diversified High Income Trust was formed on January 30, 2007 and is domiciled in the United States.

Details
Name: Pioneer Diversified High Income Trust
HNW
Exchange: AMEX
Founded: 2007
$118,408,945
8,332,790
Website: http://
Address: Pioneer Diversified High Income Trust
60 State Street,
Boston,
Massachusetts, 02109-1820,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
AMEX HNW Common Shares NYSE MKT LLC US USD 25. May 2007
Number of employees
Current staff
Staff numbers
0
Pioneer Diversified High Income Trust employees.
Industry
Asset Management and Custody Banks
Diversified Financials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/19 00:04
End of day share price update: 2019/04/18 00:00
Last earnings filing: 2018/12/28
Last earnings reported: 2018/10/31
Last annual earnings reported: 2018/04/30


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.