The Boards of Trustees/Directors of the PIMCO closed-end funds
(each, a “Fund” and, collectively, the “Funds”) have declared a
monthly distribution for each Fund’s common shares as summarized
below. The distributions are payable on May 1, 2020 to shareholders
of record on April 13, 2020, with an ex-dividend date of April 9,
2020.
|
|
Monthly Distribution Per
Share |
Fund |
NYSE Symbol |
Amount |
Change From Previous Month |
Percentage Change From Previous Month |
PIMCO Corporate & Income
Strategy Fund |
(NYSE: PCN) |
$0.112500 |
- |
- |
PIMCO Corporate & Income
Opportunity Fund |
(NYSE: PTY) |
$0.130000 |
- |
- |
PIMCO Global StocksPLUS® &
Income Fund |
(NYSE: PGP) |
$0.093940 |
- |
- |
PIMCO High Income Fund |
(NYSE: PHK) |
$0.061331 |
- |
- |
PIMCO Income Opportunity
Fund |
(NYSE: PKO) |
$0.190000 |
- |
- |
PIMCO Strategic Income Fund,
Inc. |
(NYSE: RCS) |
$0.061200 |
- |
- |
PCM Fund, Inc. |
(NYSE: PCM) |
$0.080000 |
- |
- |
PIMCO Income Strategy
Fund |
(NYSE: PFL) |
$0.090000 |
- |
- |
PIMCO Income Strategy Fund
II |
(NYSE: PFN) |
$0.080000 |
- |
- |
PIMCO Dynamic Income Fund |
(NYSE: PDI) |
$0.220500 |
- |
- |
PIMCO Dynamic Credit and
Mortgage Income Fund |
(NYSE: PCI) |
$0.174000 |
- |
- |
PIMCO Municipal Income
Fund |
(NYSE: PMF) |
$0.054000 |
- |
- |
PIMCO California Municipal
Income Fund |
(NYSE: PCQ) |
$0.065000 |
- |
- |
PIMCO New York Municipal
Income Fund |
(NYSE: PNF) |
$0.042000 |
- |
- |
PIMCO Municipal Income Fund
II |
(NYSE: PML) |
$0.059000 |
- |
- |
PIMCO California Municipal
Income Fund II |
(NYSE: PCK) |
$0.032000 |
- |
- |
PIMCO New York Municipal
Income Fund II |
(NYSE: PNI) |
$0.040045 |
- |
- |
PIMCO Municipal Income Fund
III |
(NYSE: PMX) |
$0.046000 |
- |
- |
PIMCO California Municipal
Income Fund III |
(NYSE: PZC) |
$0.038000 |
- |
- |
PIMCO New York Municipal
Income Fund III |
(NYSE: PYN) |
$0.035490 |
- |
- |
|
|
|
|
|
|
Distributions from PMF, PML, PMX, PCQ, PCK, PZC,
PNF, PNI and PYN are generally exempt from regular federal income
taxes. In addition, distributions from PCQ, PCK and PZC are also
generally exempt from California state income taxes, and
distributions from PNF, PNI and PYN are generally exempt from New
York State and city income taxes. There can be no assurance that
all distributions paid by these Funds will be exempt from federal
income taxes or applicable state or local income taxes.
Distributions may include ordinary income, net
capital gains and/or returns of capital. Generally, a return of
capital occurs when the amount distributed by a Fund includes a
portion of (or is comprised entirely of) your investment in the
Fund in addition to (or rather than) your pro-rata portion of the
Fund’s net income or capital gains. A Fund’s distributions in any
period may be more or less than the net return earned by the Fund
on its investments, and therefore should not be used as a measure
of performance or confused with “yield” or “income.” A return of
capital is not taxable; rather it reduces a shareholder’s tax basis
in his or her shares of the Fund. If a Fund estimates that a
portion of its distribution may be comprised of amounts from
sources other than net investment income in accordance with its
policies and accounting practices, such Fund will notify
shareholders of the estimated composition of such distribution
through a separate written Section 19 Notice. Such notices are
provided for informational purposes only, and should not be used
for tax reporting purposes. Final tax characteristics of all Fund
distributions will be provided on Form 1099-DIV, which is mailed
after the close of the calendar year.
It is important to note that differences exist
between a Fund’s daily internal accounting records and practices, a
Fund’s financial statements presented in accordance with U.S. GAAP,
and recordkeeping practices under income tax regulations.
Accordingly, among other consequences, it is possible that a Fund
may not issue a Section 19 Notice in situations where the Fund’s
financial statements prepared later and in accordance with U.S.
GAAP and/or the final tax character of those distributions might
later report that the sources of those distributions included
capital gains and/or a return of capital. Please see the Funds’
most recent shareholder reports and Section 19 Notice, if
applicable, for more details.
A Fund’s distribution rate may be affected by
numerous factors, including changes in realized and projected
market returns, Fund performance, and other factors. There can be
no assurance that a change in market conditions or other factors
will not result in a change in a Fund’s distribution rate at a
future time.
Certain Funds may engage in investment
strategies, including the use of derivatives, to, among other
things, seek to generate current, distributable income without
regard to possible declines in the Fund’s net asset value. A Fund’s
income and gain generating strategies, including certain
derivatives strategies, may generate current, distributable income,
even if such strategies could potentially result in declines in the
Fund’s net asset value. A Fund’s income and gain-generating
strategies, including certain derivatives strategies, may generate
current income and gains taxable as ordinary income sufficient to
support monthly distributions even in situations when the Fund has
experienced a decline in net assets due to, for example, adverse
changes in the broad U.S. or non-U.S. equity markets or the Fund’s
debt investments, or arising from its use of derivatives.
A Fund may enter into opposite sides of interest
rate swap and other derivatives for the principal purpose of
generating distributable gains on the one side (characterized as
ordinary income for tax purposes) that are not part of the Fund’s
duration or yield curve management strategies (“paired swap
transactions”), and with a substantial possibility that the Fund
will experience a corresponding capital loss and decline in net
asset value with respect to the opposite side transaction (to the
extent it does not have corresponding offsetting capital gains).
Consequently, common shareholders may receive distributions and owe
tax on amounts that are effectively a taxable return of the
shareholder’s investment in the Fund at a time when their
investment in a Fund has declined in value, which may be taxed at
ordinary income rates. The tax treatment of certain derivatives in
which a Fund invests may be unclear and thus subject to
recharacterization. Any recharacterization of payments made or
received by a Fund pursuant to derivatives potentially could affect
the amount, timing or character of Fund distributions. In addition,
the tax treatment of such investment strategies may be changed by
regulation or otherwise.
The common shares of the Funds trade on the New
York Stock Exchange. As with any stock, the price of a Fund’s
common shares will fluctuate with market conditions and other
factors. If you sell your common shares of a Fund, the price
received may be more or less than your original investment.
Shares of closed-end investment management
companies, such as the Funds, frequently trade at a discount from
their net asset value and may trade at a price that is less than
the initial offering price and/or the net asset value of such
shares. Further, if a Fund’s shares trade at a price that is more
than the initial offering price and/or the net asset value of such
shares, including at a substantial premium and/or for an extended
period of time, there is no assurance that any such premium will be
sustained for any period of time and will not decrease, or that the
shares will not trade at a discount to net asset value
thereafter.
The Funds’ daily New York Stock Exchange closing
market prices, net asset values per share, as well as other
information, including updated portfolio statistics and performance
are available at pimco.com/closedendfunds or by calling the Funds’
shareholder servicing agent at (844) 33-PIMCO. Updated portfolio
holdings information about a Fund will be available approximately
15 calendar days after such Fund’s most recent fiscal quarter end,
and will remain accessible until such Fund files a Form N-PORT or a
shareholder report for the period which includes the date of the
information.
About PIMCO
PIMCO is one of the world’s premier fixed income
investment managers. With our launch in 1971 in Newport Beach,
California, PIMCO introduced investors to a total return approach
to fixed income investing. In the 45+ years since, we have
continued to bring innovation and expertise to our partnership with
clients seeking the best investment solutions. Today we have
offices across the globe and 2,150+ professionals united by a
single purpose: creating opportunities for investors in every
environment. PIMCO is owned by Allianz S.E., a leading global
diversified financial services provider.
Except for the historical information and
discussions contained herein, statements contained in this news
release constitute forward-looking statements. These statements may
involve a number of risks, uncertainties and other factors that
could cause actual results to differ materially, including the
performance of financial markets, the investment performance of
PIMCO's sponsored investment products and separately managed
accounts, general economic conditions, future acquisitions,
competitive conditions and government regulations, including
changes in tax laws. Readers should carefully consider such
factors. Further, such forward-looking statements speak only on the
date at which such statements are made. PIMCO undertakes no
obligation to update any forward-looking statements to reflect
events or circumstances after the date of such statement.
This material has been distributed for
informational purposes only and should not be considered as
investment advice or a recommendation of any particular security,
strategy or investment product. No part of this material may be
reproduced in any form, or referred to in any other publication,
without express written permission. PIMCO is a trademark of Allianz
Asset Management of America L.P. in the United States and
throughout the world. ©2020, PIMCO
For information on PIMCO Closed-End
Funds:Financial Advisors: (800) 628-1237 Shareholders: (844)
337-4626 or (844) 33-PIMCOPIMCO Media Relations: (212) 597-1054
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