PHK is up 16% today on this news. As usual with CEF's, very sparse to zero explanatory information. I believe that distributions were stopped because the fund exceeded the allowable leverage ratio, but that they have de-leveraged to some degree, allowing their resumption.
PIMCO High Income Fund and PIMCO Floating Rate Strategy Fund Announce Payment of Previously Declared Common Share Dividends
Wednesday December 17, 2:57 pm ET
NEW YORK, Dec. 17, 2008 (GLOBE NEWSWIRE) -- PIMCO High Income Fund (NYSE:PHK - News) and PIMCO Floating Rate Strategy Fund (NYSE:PFN - News) today announced that the common share dividends previously declared on October 1, 2008 and October 3, 2008, respectively, will be paid on December 17, 2008.
Accordingly, the previously declared dividends ($0.121875 and $0.098675 per common share for PHK and PFN, respectively), which were postponed on November 3, 2008 and November 7, 2008, respectively, will be paid on December 17, 2008 to shareholders of record on October 11, 2008 for PHK, and to shareholders of record on October 13, 2008 for PFN.
The Funds' daily New York Stock Exchange closing prices and net asset values per share are available by calling the Funds' shareholder servicing agent at (800) 331-1710. This information, as well as updated portfolio statistics and performance, is available at allianzinvestors.com. |
