PIMCO New York Municipal: Dividend Insights
Portfolio Pulse from Benzinga Insights
PIMCO New York Municipal (NYSE:PNI) has announced a monthly dividend of 2.95 cents per share, with the ex-dividend date set for Friday. Shareholders owning the stock by the end of Thursday's session will be eligible for the dividend, which will be paid on January 02, 2024. The stock is expected to open 2.95 cents lower on the ex-dividend date.
December 05, 2023 | 2:45 pm
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NEUTRAL IMPACT
PIMCO New York Municipal (PNI) will pay a monthly dividend of 2.95 cents per share, with the ex-dividend date approaching on Friday. Stock price expected to adjust lower by the dividend amount on that day.
The announcement of a dividend is a routine event for a stock and is typically already factored into the price. The ex-dividend date price adjustment is a standard practice and does not indicate a change in the fundamental value of the company. Therefore, the short-term impact on the stock price is neutral, as the decrease is offset by the value of the dividend paid.
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IMPORTANCE 60
RELEVANCE 100