Pioneer Floating Rate Fund Announces Liquidation and Dissolution Approval, Plans October Distribution

Pioneer Floating Rate Fund has announced the results of its special meeting, with stockholders approving the liquidation and dissolution of the fund. The fund will liquidate its portfolio and distribute cash to shareholders. The last day of secondary market trading is expected on or about October 10, 2025, and the primary liquidating distribution is expected on or about October 15, 2025. The liquidation is a taxable event for shareholders, and the amount realized will depend on the difference between the distribution received and the shareholder's adjusted basis in the fund shares.

Pioneer Floating Rate Fund, Inc. (PHD), a closed-end investment company trading on the New York Stock Exchange (NYSE), has announced the results of its special meeting of stockholders, where shareholders approved the liquidation and dissolution of the fund. The decision was made pursuant to the Plan of Liquidation and Dissolution adopted by the Board of Directors [1].

The fund will commence liquidating its portfolio in preparation for one or more distributions of cash to its stockholders. The liquidation process will involve ceasing normal business activities, except for winding up the fund's affairs, paying liabilities, and distributing remaining assets. The fund plans to close the books on its shares at the close of business on October 10, 2025, which is referred to as the Determination Date [1].

On or about the Determination Date, the fund expects that the last day of secondary market trading for its shares will also occur. Consequently, trading on the NYSE is expected to cease prior to the opening of business on October 13, 2025 [1]. The distribution of liquidation proceeds to shareholders is anticipated to commence as soon as practicable following the Determination Date, with a primary distribution expected on or about October 15, 2025 [1].

The liquidation will be a taxable event for shareholders subject to U.S. federal income tax. The amount realized by each shareholder will be the difference between the total amount of the liquidation distribution(s) received and the shareholder's adjusted basis in the fund shares. Shareholders are advised to consult their personal tax advisors regarding the specific tax consequences of the liquidation [1].

Investors are encouraged to seek advice from qualified tax and financial experts regarding the best options for their particular circumstances. The fund's shares are expected to cease active trading in the secondary market effective as of market close on or about the Determination Date, and there can be no assurance that there will be a market for the purchase or sale of the fund's shares thereafter [1].

References:
[1] https://finance.yahoo.com/news/pioneer-floating-rate-fund-inc-203000165.html
[2] https://www.marketscreener.com/news/pioneer-floating-rate-fund-inc-announces-results-of-special-meeting-of-stockholders-proposal-to-l-ce7c50d8dd8ff724