PCM Fund (PCM) Declares $0.08 Dividend
PCM Fund said on September 1, 2023 that its board of directors declared a regular monthly dividend of $0.08 per share ($0.96 annualized). Previously, the company paid $0.08 per share.
Shareholders of record as of September 11, 2023 will receive the payment on October 2, 2023.
At the current share price of $9.32 / share, the stock's dividend yield is 10.30%.
Looking back five years and taking a sample every week, the average dividend yield has been 9.38%, the lowest has been 7.92%, and the highest has been 15.38%. The standard deviation of yields is 1.12 (n=236).
The current dividend yield is 0.82 standard deviations above the historical average.
- Read the Ultimate Guide to Dividend Harvesting.
The company has not increased its dividend in the last three years.
What is the Fund Sentiment?
There are 24 funds or institutions reporting positions in PCM Fund. This is a decrease of 3 owner(s) or 11.11% in the last quarter. Average portfolio weight of all funds dedicated to PCM is 0.02%, an increase of 39.06%. Total shares owned by institutions increased in the last three months by 26.90% to 1,166K shares.
What are Other Shareholders Doing?
Foundations Investment Advisors holds 267K shares.
GWM Advisors holds 154K shares. In it's prior filing, the firm reported owning 142K shares, representing an increase of 7.72%. The firm decreased its portfolio allocation in PCM by 0.51% over the last quarter.
SOL Capital Management holds 141K shares. In it's prior filing, the firm reported owning 143K shares, representing a decrease of 1.42%. The firm increased its portfolio allocation in PCM by 4.26% over the last quarter.
Financial Advocates Investment Management holds 116K shares. In it's prior filing, the firm reported owning 109K shares, representing an increase of 6.03%. The firm increased its portfolio allocation in PCM by 20.81% over the last quarter.
Commonwealth Equity Services holds 71K shares. In it's prior filing, the firm reported owning 72K shares, representing a decrease of 1.06%. The firm increased its portfolio allocation in PCM by 9.72% over the last quarter.
PCM Fund Background Information
(This description is provided by the company.)
PCM Fund, Inc. seeks to achieve high current income by investing in a portfolio comprised primarily of commercial mortgage-backed securities. Supported by PIMCO’s renowned credit research and analytical capabilities, the fund seeks to achieve high current income as a primary objective. Capital gain from the disposition of assets is a secondary objective. The fund has the ability to invest in agency-guaranteed mortgage-backed securities, private label (commonly known as “non-agency”) mortgage-backed securities, investment grade corporate debt securities, high yield corporate debt securities and commercial mortgage-backed securities.
Additional reading:
- PIMCO CLOSED-END FUNDS DECLARE MONTHLY COMMON SHARE DISTRIBUTIONS
- Exhibit 99.CODE—Code of Ethics pursuant to Section 406 of the Sarbanes-Oxley Act of 2002.
- Exhibit 99.CERT—Certifications pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
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