United States
Securities and Exchange Commission
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 1)
John Hancock Patriot Preferred Dividend Fund
(Name of Issuer)
Common Stock
(Title of Class of Securities)
41013J-10-7
(CUSIP Number)
The Commerce Group Inc.
211 Main Street
Webster, MA 01570
(508) 943-9000
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
May 13, 2003
(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to
report the acquisition which is the subject of this Schedule 13D, and is
filing this schedule because of Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the
following box: [X]
The information required on the remainder of this cover page shall not be
deemed to be "filed" for the purpose of Section 18 of the Securities Exchange
Act of 1934 ("Act") or otherwise subject to the liabilities of that section of
the Act but shall be subject to all other provisions of the Act (however, see
the Notes).
Page 1 of 6
CUSIP No.: 41013J-10-7 THE COMMERCE GROUP, Inc.
SCHEDULE 13D
AMENDMENT NO. 1
MAY 27, 2003
1. NAME OF REPORTING PERSON
S.S. OR I.R.S. ID NO. OF ABOVE PERSON
The Commerce Group Inc.
ID# 04-2599931
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [ ]
3. SEC USE ONLY
4. SOURCE OF FUNDS [WC]
5 CHECK BOX IF DISCLOSURE OF LEGAL [ ]
PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e)
6. CITIZENSHIP OR PLACE OF ORGANIZATION
Massachusetts
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
SOLE VOTING POWER 2,266,300
SHARED VOTING POWER 0
SOLE DISPOSITIVE POWER 2,266,300
SHARED DISPOSITIVE POWER 0
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,266,300
12. CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
31.2%
14. TYPE OF REPORTING PERSON
[HC]
Page 2 of 6
CUSIP No.: 41013J-10-7 THE COMMERCE GROUP, Inc.
SCHEDULE 13D
AMENDMENT NO. 1
MAY 27, 2003
ITEM 1. SECURITY AND ISSUER
This Schedule 13D relates to the shares of beneficial interest (the
"Shares"), of John Hancock Patriot Preferred Dividend Fund (the "Fund"), a
Massachusetts business trust registered as an investment company under the
Investment Company Act of 1940, as amended (the "Investment Company Act").
The principal executive offices of the Fund are located at 101 Huntington
Avenue, Boston, MA, 02119-7603.
ITEM 2. IDENTITY AND BACKGROUND
(a) - (f) This Schedule 13D is being filed by The Commerce Group Inc.
(the "Reporting Person"), a corporation formed under the laws of
Massachusetts. The Reporting Person is a corporation whose principal offices
are located at 211 Main Street Webster, MA 01570. No material changes have
taken place with respect to director or officer information of the Reporting
Person.
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION
The source of the funds used by the Reporting Person to purchase Shares
listed in Item 5(a) was working capital. The amount of the funds used to
purchase such shares reported in Annex A aggregated approximately $434,661.
ITEM 4. PURPOSE OF TRANSACTION
No material change has taken place since the previous filing.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER
(a) The Fund's reports with the Securities and Exchange Commission report
that 7,257,200 Shares are outstanding. Based upon such number, the Reporting
Person beneficially owns 31.2% of the Fund's outstanding Shares.
(b) The Reporting Person is the beneficial owner (through its insurance
subsidiaries as listed below) of 2,266,300 Shares, over which it has sole
power of disposition and voting. Such number of Shares represents
approximately 31.2% of the outstanding Shares.
Shares Cost
The Commerce Insurance Company 1,998,200 $21,960,700
American Commerce Insurance Company 248,100 2,765,374
Commerce West Insurance Company 20,000 237,675
Totals 2,266,300 $24,963,749
(c) During the period from December 15, 2000 through May 13, 2003, the
Reporting Person has effected the following purchases and sales of Common
Stock, all of which were made on the New York Stock Exchange (see attached
Annex A). All transactions prior to December 15, 2000 were reported on
previous Schedule 13D filings.
(d) No person other than the Reporting Person has the right to receive or
the power to direct the receipt of dividends from, or the proceeds from the
sale of, the shares of Common Stock owned by the Reporting Person.
(e) It is inapplicable to state the date on which the Reporting Person
ceased to be the beneficial owner of more than five percent of the Common
Stock.
Page 3 of 6
CUSIP No.: 41013J-10-7 THE COMMERCE GROUP, Inc.
SCHEDULE 13D
AMENDMENT NO. 1
MAY 27, 2003
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS
WITH RESPECT TO SECURITIES OF THE ISSUER
The Reporting Person does not have any contract, arrangement,
understanding or relationship (legal or otherwise) with any person with
respect to any securities of the Fund, including, but not limited to, the
transfer or voting of any such securities, finders' fees, joint ventures, loan
or option arrangements, puts or calls, guarantees of profits, division of
profits or loss, or the giving or withholding of proxies.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS
Annex A Item 5(c) Information
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify
that the information set forth in this statement is true, complete and
correct.
May 27, 2003 THE COMMERCE GROUP INC.
Gerald Fels
Executive Vice President &
Chief Financial Officer
Page 4 of 6
ANNEX A
Item 5 (c) - Information
FROM: 10/31/00 - 05/13/03
PPF 41013J-10-7 JOHN HANCOCK PATRIOT PREFERRED DIVIDEND FUND
COMMERCE INSURANCE COMPANY
SALES
TRADE SETTLEMENT SHARES SALE PRICE
DATE DATE SOLD PER SHARE CONSIDERATION
04/21/03 04/24/03 13,000 $12.9504 $167,827.32
04/30/03 05/05/03 6,000 12.7110 76,022.43
04/30/03 05/05/03 4,000 12.7110 50,681.62
05/01/03 05/06/03 9,900 12.7048 125,375.63
05/02/03 05/07/03 2,500 12.7011 31,651.26
05/02/03 05/07/03 1,300 12.7011 16,458.66
05/05/03 05/08/03 1,600 12.7044 20,262.08
05/06/03 05/09/03 900 12.7091 11,401.65
05/06/03 05/09/03 2,000 12.7091 25,337.01
05/06/03 05/09/03 2,000 12.7091 25,337.01
05/06/03 05/09/03 5,600 12.7091 70,943.63
05/07/03 05/12/03 1,800 12.7222 22,826.88
05/08/03 05/13/03 5,000 12.7420 63,507.01
COMMERCE SALE TOTALS: 55,600 $707,632.19
PURCHASES
TRADE SETTLEMENT SHARES PRICE ACQUISITION
DATE DATE PURCHASED PER SHARE COST
12/15/00 12/20/00 2,000 $10.3750 $ 20,830.00
12/19/00 12/22/00 2,400 10.5000 25,296.00
12/20/00 12/26/00 1,000 10.6250 10,665.00
12/21/00 12/27/00 5,800 10.7500 62,582.00
12/27/00 01/02/01 5,900 10.9375 64,767.25
02/20/01 02/23/01 200 11.6500 2,338.00
02/20/01 02/23/01 6,000 11.7000 70,440.00
02/21/01 02/26/01 1,800 11.7000 21,132.00
02/21/01 02/26/01 500 11.6500 5,845.00
03/05/01 03/08/01 2,600 11.8500 30,914.00
Page 5 of 6
ANNEX A
Item 5 (c) - Information
JOHN HANCOCK PATRIOT PREFERRED DIVIDEND FUND
(Continued)
PURCHASES
TRADE SETTLEMENT SHARES PRICE ACQUISITION
DATE DATE PURCHASED PER SHARE COST
04/17/01 04/20/01 1,200 11.5500 13,908.00
12/12/01 12/17/01 5,200 12.2000 63,648.00
04/19/02 04/24/02 3,400 12.4000 42,296.00
COMMERCE PURCHASE TOTALS: 38,000 $434,661.25
NET COMMERCE SALE TOTAL: 17,600 $272,970.94
AMERICAN COMMERCE INSURANCE CO
SALES
TRADE SETTLEMENT SHARES SALE PRICE
DATE DATE SOLD PER SHARE CONSIDERATION
02/10/03 02/13/03 100 $12.5000 $ 1,245.96
04/21/03 04/24/03 21,800 12.9563 281,562.12
04/21/03 04/24/03 300 12.9563 3,874.71
04/21/03 04/24/03 7,700 12.9563 99,450.84
04/21/03 04/24/03 2,200 12.9563 28,414.52
04/22/03 04/25/03 500 12.9500 6,454.69
04/23/03 04/28/03 300 12.8500 3,842.81
05/08/03 05/13/03 100 12.7500 1,270.94
05/09/03 05/14/03 5,000 12.7100 63,347.03
05/12/03 05/15/03 3,300 12.9473 42,592.09
05/13/03 05/16/03 10,600 12.8154 135,412.88
AMERICAN COMMERCE SALE TOTALS: 51,900 $667,468.59
NO PURCHASES DURING PERIOD
NET CONSOLIDATED SALE TOTAL: 69,500 $940,439.53
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