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Previous: VANGUARD PREFERRED STOCK FUND, NSAR-A, EX-27, 2000-06-19 |
Next: RELIANCE FINANCIAL SERVICES CORP, SC 13D/A, 2000-06-19 |
VANGUARD PREFERRED STOCK FUND CIK # 0000081391 4/30/2000 The Board of Trustees changed the Fund's investment objective of maximizing dividend income that qualifies for the federal intercorporate dividends received deduction (DRD). The new objective is to provide a high level of current income, a significant portion of which will be DRD-eligible. Wellington Management Company began introducing non-DRD-eligible preferred stock into the Fund after March 1, 2000.
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