Management - really on top of it - they mailed me my 2009 Proxy voting material WiTH A 2007 Annual Report. Timely material - huh. I called John Hancock aka - BNY/Mellon - and they stated it was an internal error - they will be mailing 2008 Annuasl Reports next week. Yeaaaaaaa - more money wasted so they can lower the dividend again - yet continue to collect the same MANAGEMENT FEES.
they seem to have cleaned out the bank stuff and it is mostly utility and other somewhat healthier preferreds in the list. you can view the portfolio by clicking news links, scrolling down the excel spread they put out. it could be the leverage too, they have debt and these closed end funds have to watch their ratios or they cant pay divs and qualify as closed end funds. so November 2008 all over again, I own KYE and same thing.