-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, SWDpWWVyF9UDJ/nU1MVdM0XaLx4vUmIOk8gCzxI7L5udUnvj+wkudffjBktx1WBn cMlz87v0KT2/VmwW+6+RQw== 0000932471-99-000525.txt : 19991221 0000932471-99-000525.hdr.sgml : 19991221 ACCESSION NUMBER: 0000932471-99-000525 CONFORMED SUBMISSION TYPE: 497 PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 19991220 FILER: COMPANY DATA: COMPANY CONFORMED NAME: VANGUARD PREFERRED STOCK FUND CENTRAL INDEX KEY: 0000081391 STANDARD INDUSTRIAL CLASSIFICATION: [] IRS NUMBER: 231976122 FISCAL YEAR END: 1031 FILING VALUES: FORM TYPE: 497 SEC ACT: SEC FILE NUMBER: 002-54886 FILM NUMBER: 99777249 BUSINESS ADDRESS: STREET 1: PO BOX 2600 STREET 2: VM #V34 CITY: VALLEY FORGE STATE: PA ZIP: 19482 BUSINESS PHONE: 6106691000 FORMER COMPANY: FORMER CONFORMED NAME: VANGUARD QUALIFIED DIVIDEND PORTFOLIO II INC DATE OF NAME CHANGE: 19871001 FORMER COMPANY: FORMER CONFORMED NAME: QUALIFIED DIVIDEND PORTFOLIO II INC DATE OF NAME CHANGE: 19840229 497 1 PREFERRED STOCK FUND PROSPECTUS SUPPLEMENT [SHIP] [THE VANGUARD GROUP LOGO] VANGUARD PREFERRED STOCK FUND SUPPLEMENT TO THE PROSPECTUS DATED JANUARY 29, 1999 On December 14, 1999, the Fund filed documents with the Securities and Exchange Commission (SEC), describing a change to its investment objective. The change is expected to become effective on February 28, 2000. Since its inception, the Fund's objective has been to provide the maximum dividend income that qualifies for the federal intercorporate dividends-received deduction (usually referred to as "DRD"). In today's marketplace, however, not much new preferred stock is DRD-eligible. As a result, the Fund's Board of Trustees has decided to broaden the Fund's objective, so that there is greater flexibility to invest in preferred stock that is NOT DRD-eligible. As revised, the objective will be to provide high current income with a SIGNIFICANT PORTION of income that is DRD-eligible. under this new objective, the fund may be suitable for both corporate investors and individual investors. (C) 1999 The Vanguard Group, Inc. All rights reserved. Vanguard Marketing Corporation, Distributor. PS38N-12/21/1999 -----END PRIVACY-ENHANCED MESSAGE-----