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Participant ○○○

PIMCO Dec earnings report

PIMCO DEC earnings have been released.

PCI: As of Nov PCI had 37c UNII. EOY special was 0.45 - ie more than they had stored as of Nov 30th. Implied UNII after EOY = -0.08 (negative). Dec UNII is negative 0.1. The slight decrease in UNII during Dec means income was slightly less than the regular monthly distribution. But, after correcting for the regular and EOY distributions, NAV grew for the month by 57c (22.92 + 0.45 +0.174 - 22.87). Conclusion: all's well.

PDI: had 0.56 UNII in Nov. EOY was 0.42. Implied UNII after EOY = 0.14.  Dec UNII is 0.2. PDI over-earned and NAV grew 6c, after the distributions.

PFN: UNII went from -0.08 to -0.10 in Dec. No EOY special. NAV grew 24c, after the 8c distribution, but slightly under-earned for the month.

PKO: UNII went from 0.01 to -0.03 in Dec. NAV grew 23c, after the 0.19 regular and 0.16 EOY capital gain distributions.

here's the monthly table (apologies for the formatting):

Fund Name
TickerCurrent Fiscal
Year End
Estimated Net Investment Income (NII)(1)
Fiscal Year
to Date
Estimated Undistributed
Net Investment
Income -
UNII/Estimated (ROC)(1)
Monthly Distribution
per Common
3 Month Rolling Coverage Ratio(3)6 Month Rolling Coverage
Ratio (3)
Fiscal Year
to Date Distribution Coverage
 PIMCO California Municipal Income FundPCQ31-Dec-19$0,83$0,15$0,07700073,94%74,11%76,13%
 PIMCO California Municipal Income Fund IIPCK31-Dec-19$0,51$0,00$0,03500094,12%95,67%98,81%
 PIMCO California Municipal Income Fund IIIPZC31-Dec-19$0,58$0,00$0,04185090,93%91,16%92,56%
 PIMCO Municipal Income FundPMF31-Dec-19$0,83$0,00$0,05967095,35%93,48%94,11%
 PIMCO Municipal Income Fund IIPML31-Dec-19$0,78$0,12$0,06500085,85%86,56%86,48%
 PIMCO Municipal Income Fund IIIPMX31-Dec-19$0,73$0,00$0,05073399,76%100,01%98,89%
 PIMCO New York Municipal Income FundPNF31-Dec-19$0,65($0,03)$0,05301088,14%85,63%83,86%
 PIMCO New York Municipal Income Fund IIPNI31-Dec-19$0,67$0,03$0,040045109,35%109,33%104,18%
 PIMCO New York Municipal Income Fund IIIPYN31-Dec-19$0,53($0,03)$0,035490101,18%98,04%92,75%
 PCM Fund Inc.PCM30-Jun-20$0,44($0,03)$0,08000096,45%92,11%92,16%
 PIMCO Corporate & Income Opportunity FundPTY31-Jul-20$0,50($0,05)$0,13000063,88%84,57%74,62%
 PIMCO Corporate & Income Strategy FundPCN31-Jul-20$0,45($0,02)$0,11250066,74%94,45%79,24%
 PIMCO Dynamic Credit & Mortgage Income FundPCI30-Jun-20$0,95($0,10)$0,17400062,65%91,08%92,54%
 PIMCO Dynamic Income FundPDI30-Jun-20$1,54$0,20$0,22050085,11%116,69%118,81%
 PIMCO High Income FundPHK31-Jul-20$0,20($0,11)$0,06133171,71%84,48%63,52%
 PIMCO Income Opportunity FundPKO30-Jun-20$1,06($0,03)$0,19000059,01%93,55%97,49%
 PIMCO Income Strategy FundPFL31-Jul-20$0,31($0,15)$0,09000061,41%81,41%67,42%
 PIMCO Income Strategy Fund IIPFN31-Jul-20$0,28($0,10)$0,08000056,29%81,41%69,92%
 PIMCO Strategic Income Fund, Inc.(5)RCS30-Jun-20$0,33($0,04)$0,06120067,37%88,80%88,99%
 PIMCO Global StocksPLUS® & Income FundPGP30-Jun-20$0,57$0,01$0,09394079,56%101,82%102,01%
2 Replies
Participant ○

Re: PIMCO Dec earnings report

As always, thanks so much for posting this every month, and I particularly appreciate your concise narrative.

Frequent Contributor

Re: PIMCO Dec earnings report

Thanks. It appears that PIMCO went overboard on the special distribution for PCI in December. It is like eating the seed corn. It seems that the current price seems to reflect it. Hope that Pimco covers the deficit quickly.

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