Thursday Is Your Last Chance To Buy PIMCO CA Muni Income Fund Before The Dividend Payout
Portfolio Pulse from Benzinga Insights
PIMCO CA Muni Income Fund (NYSE:PCK) has announced a monthly dividend of 2.15 cents per share. To be eligible for the dividend, shareholders must own the stock before the ex-dividend date, which is this Friday. The dividend will be paid out on October 02, 2023.
September 05, 2023 | 2:45 pm
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PIMCO CA Muni Income Fund (NYSE:PCK) has announced a monthly dividend of 2.15 cents per share. The stock will likely open 2.15 cents lower on the ex-dividend date.
The announcement of a dividend payout usually leads to a temporary increase in the stock price as investors buy in to qualify for the dividend. However, on the ex-dividend date, the stock price typically drops by about the amount of the dividend payout, as the company's assets have effectively decreased by the amount of the dividend. In this case, PCK is expected to open 2.15 cents lower on the ex-dividend date.
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