PIMCO New York Municipal: Dividend Insights
Portfolio Pulse from Benzinga Insights
PIMCO New York Municipal (NYSE:PYN) has announced a monthly dividend of 2.48 cents per share. The stock will go ex-dividend on Friday, meaning it will trade lower to reflect the payout. Shareholders owning PYN by the end of Thursday's session will be eligible for the dividend, which will be paid out on October 02, 2023.
September 05, 2023 | 2:45 pm
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PIMCO New York Municipal (PYN) has announced a monthly dividend of 2.48 cents per share. The stock will go ex-dividend on Friday, which will likely cause the stock to open lower.
The announcement of a dividend typically leads to a short-term increase in the stock price as investors buy in to qualify for the payout. However, the stock price usually drops on the ex-dividend date as the value of the dividend is subtracted from the stock's price. Therefore, PYN's stock price is likely to decrease in the short term.
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