John Hancock Preferred Income Fund and Preferred Income Fund II Declare Increased Monthly Distributions by 12.9% to $0.1400 Per Share (HPF)

John Hancock Preferred Income Fund HPI and John Hancock Preferred Income Fund II HPF announced today an increase in its monthly distribution by 12.9% to $0.1400 per share, up from $0.1240 per share effective with the Fund's next distribution payment on May 31, 2011. The increased distribution is payable to holders of record on May 12, 2011 with an ex-dividend date of May 10, 2011.