PIMCO Dynamic Credit (NYSE:PCI) declared a dividend payable on June 1, 2021 to its shareholders as of May 3, 2021. It was also announced that shareholders of PIMCO Dynamic Credit's stock as of May 13, 2021 are entitled to the dividend. The stock is expected to become ex-dividend 1 business day(s) before the record date. The ex-dividend date for PIMCO Dynamic Credit will be on May 12, 2021. The company's current dividend payout is at $0.17. That equates to a dividend yield of 9.08% at current price levels.
The Significance Of Ex-Dividend Dates
Ex-dividend dates are when company shares stop trading with their current dividend payouts in preparation for those companies to announce new ones. Usually, a company's ex-dividend date falls one business day before its record date. Investors should keep this in mind when purchasing stocks because buying them on or after ex-dividend dates does not qualify them to receive the declared payment. Newly declared dividends go to shareholders who have owned that stock before the ex-dividend date. Most ex-dividend dates operate on a quarterly basis.
Understanding PIMCO Dynamic Credit's Dividend Performance
Over the past year, PIMCO Dynamic Credit has seen its dividend payouts remain the same and its yields trend downward. Last year on January 13, 2021 the company's payout sat at $0.17, which has returned to its value today. PIMCO Dynamic Credit's dividend yield last year was 9.85%, which has since decreased by 0.77%.
Companies use dividend yields in different strategic ways. Some companies may opt to not give yields altogether to reinvest in themselves. Other companies may opt to increase or decrease their yield amounts to control how their shares circulate throughout the stock market.
CLICK HERE to find details on PIMCO Dynamic Credit's previous dividends.