PIMCO Corporate & Income (NYSE:PTY) declared a dividend payable on June 1, 2021 to its shareholders as of May 3, 2021. It was also announced that shareholders of PIMCO Corporate & Income'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. PIMCO Corporate & Income has an ex-dividend date set for for May 12, 2021. The company's current dividend payout is $0.13, which equates to a dividend yield of 8.22% at current price levels.
The Significance Of Ex-Dividend Dates
An ex-dividend date signals when a company's shares cease to trade with its current dividend payout. There is a small intermission period before the company announces a new dividend. 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 Corporate & Income's Dividend Payouts And Yields
Over the past year, PIMCO Corporate & Income has experienced no change regarding its dividend payouts and a downward trend regarding its yields. Last year on January 13, 2021 the company's payout was $0.13, which has returned to its value today. PIMCO Corporate & Income's dividend yield last year was 8.74%, which has since decreased by 0.52%.
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 Corporate & Income's previous dividends.