Key Takeaways
- • PIMCO's closed-end fund boards declared monthly distributions on common shares for each listed fund, payable December 1, 2026 to shareholders of record on November 13, 2026, with an ex-dividend date of November 13, 2026.
- • The press release lists per-share distribution amounts and annualized distribution rates for each Fund, but the specific rate figures are not reproduced in the text provided.
- • Distributions may consist of ordinary income, net capital gains, and/or return of capital, and the rate should not be confused with yield or performance.
- • PML, PCQ and PNI distributions are generally exempt from regular federal income tax, with additional state and local exemptions for PCQ (California) and PNI (New York State and city).
- • Funds may use paired swap transactions to generate distributable ordinary income, which can be economically similar to a taxable return of capital when combined with capital losses.
Summary
The Boards of Trustees and Directors of the PIMCO closed-end funds announced a monthly distribution for each Fund's common shares, as reported by Business Wire from New York. For the Funds listed in the release, distributions are payable December 1, 2026 to shareholders of record on November 13, 2026, with an ex-dividend date of November 13, 2026. The per-share amounts and rates for each Fund appear in tables in the original release, and the figures are not reproduced in the text available here.
The release notes that distribution rates are calculated by annualizing the current per-share distribution and dividing by NAV or market price as of the reported date. It cautions that rates are not performance, may change with fund earnings, market conditions, and Fund performance, and may include return of capital, which reduces a shareholder's tax basis rather than being taxable income when received.
The release details tax treatment for certain funds. Distributions from PML, PCQ and PNI are generally excluded from gross income for federal income tax purposes, though not necessarily from the federal alternative minimum tax. PCQ distributions are also generally exempt from California state income tax, and PNI distributions from New York State and city income taxes. PIMCO states that these exemptions are not guaranteed.
PIMCO also discloses that some Funds may employ paired swap transactions and other derivatives strategies to generate current distributable income, even where NAV has declined. Because such transactions can produce capital losses without offsetting gains, ordinary income distributions may be economically similar to a taxable return of capital. The release notes that the tax treatment of certain derivatives may be unclear and subject to recharacterization or change by regulation.
The release also reminds investors that the common shares trade on the New York Stock Exchange, often at a discount or premium to NAV, and that bond market risks including interest rate, credit, and liquidity risk apply. Daily prices, NAVs and portfolio information are available at pimco.com/closedendfunds or by calling (844) 33-PIMCO.
The release notes that distribution rates are calculated by annualizing the current per-share distribution and dividing by NAV or market price as of the reported date. It cautions that rates are not performance, may change with fund earnings, market conditions, and Fund performance, and may include return of capital, which reduces a shareholder's tax basis rather than being taxable income when received.
The release details tax treatment for certain funds. Distributions from PML, PCQ and PNI are generally excluded from gross income for federal income tax purposes, though not necessarily from the federal alternative minimum tax. PCQ distributions are also generally exempt from California state income tax, and PNI distributions from New York State and city income taxes. PIMCO states that these exemptions are not guaranteed.
PIMCO also discloses that some Funds may employ paired swap transactions and other derivatives strategies to generate current distributable income, even where NAV has declined. Because such transactions can produce capital losses without offsetting gains, ordinary income distributions may be economically similar to a taxable return of capital. The release notes that the tax treatment of certain derivatives may be unclear and subject to recharacterization or change by regulation.
The release also reminds investors that the common shares trade on the New York Stock Exchange, often at a discount or premium to NAV, and that bond market risks including interest rate, credit, and liquidity risk apply. Daily prices, NAVs and portfolio information are available at pimco.com/closedendfunds or by calling (844) 33-PIMCO.
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