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PIMCO Corporate & Income (NYSE:PCN) declared a dividend payable on October 1, 2021 to its shareholders as of September 1, 2021. It was also announced that shareholders of PIMCO Corporate & Income's stock as of September 13, 2021 are entitled to the dividend. The stock is expected to become ex-dividend 1 business day(s) before the record date. PIMCO Corporate & Income has an ex-dividend date set for for September 10, 2021. The company's current dividend payout is $0.11, which equates to a dividend yield of 7.31% at current price levels.
An ex-dividend date signals when a company's shares cease to trade with its current dividend payout. There is a small intermission period before the company announces a new dividend. Usually, a company's ex-dividend date falls one business day before its record date. Investors should keep this in mind when purchasing stocks because buying them on or after ex-dividend dates does not qualify them to receive the declared payment. Newly declared dividends go to shareholders who have owned that stock before the ex-dividend date. Typically, companies will announce and implement new dividend yields on a quarterly basis.
Over the past year, PIMCO Corporate & Income has seen its dividend payouts remain the same and its yields trend downward. Last year on May 12, 2021 the company's payout sat at $0.11, which has returned to its value today. PIMCO Corporate & Income's dividend yield last year was 7.49%, which has since decreased by 0.18%.
Companies use dividend yields in different strategic ways. Some companies may opt to not give yields altogether to reinvest in themselves. Other companies may opt to increase or decrease their yield amounts to control how their shares circulate throughout the stock market.
Click here to find details on PIMCO Corporate & Income's previous dividends.
To keep track of which companies are distributing dividends, click here to visit our Dividends Calendar.
Posted In: PCN
