PIMCO Corporate & Income Strategy Fund (PCN) Plans Dividend Increase – $0.11 Per Share
PIMCO Corporate & Income Strategy Fund (NYSE:PCN) declared a monthly dividend on Monday, December 4th, Wall Street Journal reports. Investors of record on Monday, December 11th will be given a dividend of 0.1125 per share by the investment management company on Tuesday, January 2nd. This represents a $1.35 annualized dividend and a yield of 7.99%. The ex-dividend date is Friday, December 8th. This is an increase from PIMCO Corporate & Income Strategy Fund’s previous monthly dividend of $0.11.
PIMCO Corporate & Income Strategy Fund has decreased its dividend by an average of 7.5% per year over the last three years.
PIMCO Corporate & Income Strategy Fund (NYSE:PCN) traded up $0.14 during trading on Monday, reaching $16.90. The company had a trading volume of 119,812 shares, compared to its average volume of 114,017. PIMCO Corporate & Income Strategy Fund has a fifty-two week low of $14.47 and a fifty-two week high of $17.95.
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About PIMCO Corporate & Income Strategy Fund
Pimco Corporate & Income Strategy Fund (the Fund) is a diversified, closed-end management investment company. The Fund’s investment objective is to seek high current income, with a secondary objective of capital preservation and appreciation. Under normal market conditions, the Fund invests at least 80% of its total assets in a combination of corporate debt obligations of varying maturities, other corporate income-producing securities, and income-producing securities of non-corporate issuers, such as the United States government securities, municipal securities, and mortgage-backed and other asset-backed securities issued on a public or private basis.
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