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 Premium Dividend Fund I
(Name of Issuer)
Common Stock
(Title of Class of Securities)
41013Q-10-1
(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)
June 3, 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 7
CUSIP No.: 41013Q-10-1 THE COMMERCE GROUP, INC.
SCHEDULE 13D
AMENDMENT NO. 1
JUNE 13, 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 4,450,000
SHARED VOTING POWER 0
SOLE DISPOSITIVE POWER 4,450,000
SHARED DISPOSITIVE POWER 0
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
4,450,000
12. CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
29.5%
14. TYPE OF REPORTING PERSON
[HC]
Page 2 of 7
CUSIP No.: 41013Q-10-1 THE COMMERCE GROUP, INC.
SCHEDULE 13D
AMENDMENT NO. 1
JUNE 13, 2003
ITEM 1. SECURITY AND ISSUER
This Schedule 13D relates to the shares of beneficial interest (the
"Shares"), of John Hancock Patriot Premium Dividend Fund I (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
$1,052,427.
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 15,061,235 Shares are outstanding. Based upon such number, the
Reporting Person beneficially owns 29.5% of the Fund's outstanding Shares.
(b) The Reporting Person is the beneficial owner (through its insurance
subsidiaries as listed below) of 4,450,000 Shares, over which it has sole
power of disposition and voting. Such number of Shares represents
approximately 29.5% of the outstanding Shares.
Shares Cost
The Commerce Insurance Company 4,130,900 $37,403,700
American Commerce Insurance Company 95,400 784,979
Commerce West Insurance Company 223,700 2,073,620
Totals 4,450,000 $40,262,299
Page 3 of 7
CUSIP No.: 41013Q-10-1 THE COMMERCE GROUP, INC.
SCHEDULE 13D
AMENDMENT NO. 1
JUNE 13, 2003
(c) During the period from December 2, 2000 through June 3, 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 2, 2000 were reported on
previous Schedule 13 D 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.
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.
June 13, 2003 THE COMMERCE GROUP INC.
Gerald Fels
Executive Vice President &
Chief Financial Officer
Page 4 of 7
ANNEX A
Item 5 (c) - Information
PDF - JOHN HANCOCK PATRIOT PREMIUM DIVIDEND FUND I
FROM 12/01/00 - 6/03/03
COMMERCE INSURANCE COMPANY
SALES
TRADE SETTLEMENT SHARES SALE PRICE
DATE DATE SOLD PER SHARE CONSIDERATION
04/28/03 05/01/03 3,600 $9.1325 $ 32,731.46
04/30/03 05/05/03 5,800 9.0164 52,060.67
05/01/03 05/06/03 7,400 9.0151 66,412.61
05/02/03 05/07/03 5,500 8.9998 49,276.58
05/06/03 05/09/03 2,900 8.9030 25,701.49
05/06/03 05/09/03 6,500 8.9030 57,606.79
05/06/03 05/09/03 500 8.9030 4,431.29
05/07/03 05/12/03 7,200 8.8997 63,786.84
05/08/03 05/13/03 2,100 8.9062 $ 18,618.14
COMMERCE SALE TOTALS: 41,500 $370,625.87
COMMERCE INSURANCE COMPANY
PURCHSAES
TRADE SETTLEMENT SHARES PRICE ACQUISITION
DATE DATE PURCHASED PER SHARE COST
12/15/00 12/20/00 29,900 $8.2500 $ 247,871.00
12/18/00 12/21/00 4,200 8.3125 35,080.50
12/20/00 12/26/00 1,600 8.6875 13,964.00
12/21/00 12/27/00 200 8.6875 1,745.50
12/26/00 12/29/00 9,800 8.6875 85,529.50
12/27/00 01/02/01 10,700 8.6250 92,715.50
12/28/00 01/03/01 6,000 8.6250 51,990.00
09/21/01 09/26/01 11,500 8.5000 98,210.00
10/22/01 10/25/01 1,500 9.4300 14,205.00
10/24/01 10/29/01 3,700 9.4800 35,224.00
10/25/01 10/30/01 8,800 9.5500 84,392.00
Page 5 of 7
ANNEX A
Item 5 (c) - Information (Continued)
PDF - JOHN HANCOCK PATRIOT PREMIUM DIVIDEND FUND I
FROM 12/01/00 - 6/03/03
COMMERCE INSURANCE COMPANY
PURCHSAES (Continued)
TRADE SETTLEMENT SHARES PRICE ACQUISITION
DATE DATE PURCHASED PER SHARE COST
12/12/01 12/17/01 21,200 9.4900 202,036.00
07/12/02 07/17/02 100 8.4000 844.00
07/16/02 07/19/02 10,500 8.4000 88,620.00
COMMERCE PURCHASE TOTALS: 119,700 $1,052,427.00
NET COMMERCE SALE TOTAL: (78,200) ($681,801.13)
AMERICAN COMMERCE INSURANCE CO
SALES
TRADE SETTLEMENT SHARES SALE PRICE
DATE DATE SOLD PER SHARE CONSIDERATION
04/21/03 04/24/03 4,500 $9.0340 $ 40,471.09
04/22/03 04/25/03 7,800 9.0003 69,887.05
04/23/03 04/28/03 2,900 8.8925 25,671.04
04/23/03 04/28/03 1,100 8.8925 9,737.29
04/29/03 05/02/03 300 9.0204 2,693.99
04/29/03 05/02/03 200 9.0204 1,796.00
04/29/03 05/02/03 3,200 9.0204 28,735.93
04/29/03 05/02/03 3,200 9.0204 28,735.93
05/08/03 05/13/03 2,300 8.9000 20,377.04
05/09/03 05/14/03 13,500 8.8882 119,445.08
05/12/03 05/15/03 16,900 8.8805 149,397.42
05/13/03 05/16/03 1,000 8.8700 8,829.58
05/14/03 05/19/03 3,300 8.8000 28,906.64
05/16/03 05/21/03 3,200 8.9003 28,351.62
Page 6 of 7
ANNEX A
Item 5 (c) - Information (Continued)
PDF - JOHN HANCOCK PATRIOT PREMIUM DIVIDEND FUND I
FROM 12/01/00 - 6/03/03
AMERICAN COMMERCE INSURANCE CO
SALES (Continued)
TRADE SETTLEMENT SHARES SALE PRICE
DATE DATE SOLD PER SHARE CONSIDERATION
05/19/03 05/22/03 6,600 $8.7427 $ 57,435.12
05/19/03 05/22/03 11,100 8.7427 96,595.43
05/19/03 05/22/03 9,500 8.7427 82,671.76
05/20/03 05/23/03 1,700 8.6658 14,663.17
05/20/03 05/23/03 4,100 8.6658 35,364.11
05/20/03 05/23/03 700 8.6658 6,037.78
05/22/03 05/28/03 4,300 8.7825 37,590.98
05/22/03 05/28/03 5,500 8.7825 48,081.49
05/22/03 05/28/03 4,400 8.7825 38,465.19
05/23/03 05/29/03 1,600 8.8455 14,088.14
05/23/03 05/29/03 2,200 8.8455 19,371.19
05/23/03 05/29/03 5,300 8.8455 46,666.95
05/27/03 05/30/03 8,200 9.0345 73,751.43
05/28/03 06/02/03 11,800 9.1383 107,354.89
05/29/03 06/03/03 14,600 9.2690 134,737.07
05/30/03 06/04/03 8,100 9.1986 74,181.17
06/02/03 06/05/03 7,400 9.1485 67,399.73
06/03/03 06/06/03 34,100 9.0438 $ 307,015.15
AMERICAN COMMERCE SALE TOTALS: 204,600 $1,824,506.45
NO PURCHASES DURING PERIOD
NET CONSOLIDATED SALE TOTAL: 126,400 $1,142,705.32
Page 7 of 7