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PCK:NYSE – (Closed-End Fund - Debt)

PIMCO California Municipal Income Fund II – PCK Stock Overview

Last PriceToday's Change52-Week RangeTrading Volume
9.500.02 (+0.21%)8.95 - 10.0041.3 thousand

Market data as of 4:02PM 09/23/14. Quotes are delayed by at least 15 min.

Press Release

PCK and PNI Report Results for the Fiscal Quarter and Year Ended May 31, 2014

Business Wire - Wednesday 07/30/2014 4:00 PM ET
  • PIMCO California Municipal Income Fund II
  • PIMCO New York Municipal Income Fund II

NEW YORK--(BUSINESS WIRE)--Jul. 30, 2014-- PIMCO California Municipal Income Fund II (NYSE:PCK) and PIMCO New York Municipal Income Fund II (NYSE:PNI) (the "Funds") today announced their results for the fiscal quarter and year ended May 31, 2014. The investment objective of each fund is to provide current income exempt from federal income tax. California Municipal Income Fund II also seeks to provide current income exempt from California state income taxes. New York Municipal Income Fund II also seeks to provide current income exempt from New York state and city income taxes.

 

California Municipal Income II

 

New York Municipal Income II

 
At May 31,
2014   2013 2014   2013
Net Assets (a) $ 436,289,294 $ 445,180,935 $ 199,520,057 $ 202,685,158
Common Shares Outstanding 31,723,041 31,610,327 10,980,906 10,927,322
Net Asset Value ("NAV") $ 8.61 $ 8.93 $ 10.98 $ 11.32
Market Price $ 9.52 $ 10.51 $ 12.01 $ 12.01
Premium to NAV 10.57 % 17.69 % 9.38 % 6.10 %

Undistributed (Overdistributed) Net Investment Income Per Common Share (b)

$ (0.0710 ) $ (0.0745 ) $ 0.1187 $ 0.1796
 
Quarter ended May 31,
2014 2013 2014 2013
Net Investment Income $ 5,015,818 $ 5,284,422 $ 1,965,915 $ 2,116,743
Per Common Share $ 0.16 $ 0.17 $ 0.19 $ 0.20
Net Realized and Change in Unrealized Gain (Loss) $ 13,990,280 $ (6,655,566 ) $ 6,554,708 $ (4,227,025 )
Per Common Share $ 0.43 $ (0.21 ) $ 0.60 $ (0.38 )
 
Year ended May 31,
2014 2013 2014 2013
Net Investment Income $ 21,384,002 $ 21,709,832 $ 8,148,729 $ 8,604,979
Per Common Share $ 0.68 $ 0.69 $ 0.75 $ 0.79
Net Realized and Change in Unrealized Gain (Loss) $ (7,901,731 ) $ 10,808,305 $ (3,074,294 ) $ (320,168 )
Per Common Share $ (0.26 ) $ 0.35 $ (0.28 ) $ (0.02 )
 

(a) Net assets are inclusive of Preferred Shares of $163 million and $79 million for the California Municipal Income Fund II and New York Municipal Income Fund II, respectively.

(b) Since the Funds' net earning rates fluctuate from month to month, there will be periods when the Funds may over-earn or under-earn their monthly dividend rate. This fluctuation will have the effect of adding to or subtracting from the Funds' undistributed (overdistributed) net investment income balances. The Funds' management analyzes the current and projected net earning rates prior to recommending dividend amounts to the Funds' Board of Trustees for declaration. There can be no assurance that the monthly dividend rates will remain at their current level or that the undistributed net investment income balances, if any, will be sufficient to cover any shortfall in earnings to meet the current dividend rate.

Allianz Global Investors Fund Management LLC ("AGIFM"), an indirect, wholly-owned subsidiary of Allianz Asset Management of America L.P., serves as the Funds' investment manager and is a member of Munich-based Allianz Group. Pacific Investment Management Company LLC, an AGIFM affiliate, serves as the Funds' sub-adviser.

The Funds' daily New York Stock Exchange closing market prices, NAVs, as well as other information, is available at us.allianzgi.com/closedendfunds or by calling the Funds' shareholder servicing agent at (800) 254-5197.

The financial information contained herein is solely based upon the data available at the time of publication of this press release, and there is no assurance that any future results will be the same or similar to what is reported herein. Information that was obtained from third party sources we believe to be reliable is not guaranteed as to its accuracy or completeness. This press release contains no recommendations to buy or sell any specific securities and should not be considered investment advice of any kind. Past performance is no guarantee of future results and the investment returns generated by the Funds will fluctuate. There can be no assurance that the Funds will meet their stated objectives. The Funds' ability to pay dividends to common shareholders is subject to the restrictions in their registration statements, by-laws and other governing documents, as well as the Investment Company Act of 1940. In making any investment decision, individuals should utilize other information sources and the advice of their own professional adviser.

Source: PIMCO Closed-End Funds

For Information on PIMCO Closed-End Funds:
Financial advisors: 800-628-1237
Shareholders: 800-254-5197
Media Relations: 212-739-3501

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