- Pays: monthly — $0.2205 per share, unchanged through every 2025-26 declaration ($2.65 a year, every fiscal year since 2021).
- Paying since: 2012, monthly throughout; an extra ~$0.65 special was paid in fiscal 2023.
- What it is: PIMCO's flagship leveraged credit CEF — a global, multi-sector bond portfolio run with about 33% effective leverage (reverse repos, borrowings, swaps, tender-option bonds).
- The cost: total expenses around 3.8-4.5% of net assets including interest on the leverage; about 1.6-1.7% excluding it.
- The fine print: recent months sourced 20-44% from 'paid-in surplus' (return of capital), and NAV has fallen from $25.23 (mid-2021) to $16.90 (end 2025) while the payout held — with the shares persistently trading at a premium to that NAV (about 5%).
A level distribution on a falling NAV means the payout rate on NAV keeps climbing — 15.7% at the end of 2025. PDI is not under a formal managed-distribution plan; the board 'may seek to maintain level distributions' and can change the rate at any time.
PDI pays monthly. Each point below is one distribution since 2012 — the flat line is the product; the NAV underneath is the story.
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Each point is one payment; the line ends at the most recent payout. The table below totals them by year.
- Trailing 12 months: $2.65 per share across 12 payments — up 0% from $2.65 in the 12 months before. What a change like that does to your income →
- Current pace: recent payments annualize to $2.65 — 0% above the trailing figure. When those two disagree, the trailing yield is quoting the past. Live cut & raise board →
- Share price, same 12 months: down 23% (dividends excluded) — income and principal are one story. Erosion Index →
- Record: 178 payments over 14 years; the largest single payment was $2.61 (Dec 2015).
- Payment drops ≥20% below trend, last 24 months: none. Get one short email if that changes →
- Payment steadiness: the last 12 checks wobble ±0% around their median. Compare that against any fund →
Every figure above is computed from PDI's actual payment record and share-price history as of the date shown — not copied from a fact sheet. Recomputed regularly; the chart above always shows the live data.
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| Recent Ex-Dividend Dates | Distribution / Share |
|---|
"Next expected" is estimated from PDI's recent payment rhythm — the fund announces exact dates shortly before each payout, and the data feed can lag a few days. You must own shares before the ex-dividend date to receive that payout; the cash typically arrives days later. See every fund's upcoming date on the live dividend calendar.
A real total-return estimate, assuming every payout was reinvested — including what happened to the share price. Before taxes and fees. Past performance does not predict the future.
PDI is the closed-end-fund world's most popular income product for a reason: PIMCO's credit team, monthly checks that haven't budged, and a yield north of 15% on NAV. The chart above can't show the trade-off, so this card does: net asset value per share is down roughly a third since 2021, part of each recent payment has been return of capital, and the market still pays a premium for the shares. Level distributions are a promise about the check, not about the principal.
Return-of-capital distributions lower your cost basis — the Cost Basis Calculator tracks it. Compare PDI against a cheaper, unlevered bond fund (BND, USHY) on the compare tool to see what the leverage and fee actually buy.
| Year | Total Distributions / Share | Payments | Change vs Prior Year |
|---|
Data source: Yahoo Finance. Figures are per share; the current year may be partial and figures should be verified against official sources.
Calculated from complete calendar years in the data above. Past results don't guarantee future payments.
When Is PDI's Next Ex-Dividend Date?
PDI pays monthly. The exact date of each payout is announced by the fund only shortly beforehand, so no site can promise the next date — but the live schedule box above shows the most recent ex-dividend date and the expected window for the next one, computed from PDI's actual payment rhythm. Remember: you must own shares before the ex-dividend date to receive that payout.
Fourteen Years of Monthly Checks
PDI has paid monthly since 2012 and, since 2021, the identical $2.65 a year in regular distributions. The chart above shows the flat line and the fiscal-2023 special; the year-by-year table shows how little the payout has varied.
What Leverage and a Level Payout Cost
The fund borrows about a third of its assets to own more bonds than shareholders paid for, and pays out a fixed amount regardless of what those bonds earned. In good credit markets that produces an exceptional income stream; in 2022's rate shock and since, it has produced a NAV that fell from $25 to $17 while the distribution held — the gap filled partly by return of capital. The premium the market pays for PDI is a vote of confidence in PIMCO, and a price to be aware of.
Reading the Chart Honestly
Judge PDI on total return on NAV, not on the distribution line, and watch the premium: the same fund is a materially different investment at a 5% premium than at a discount. For the sector's other level-payout machines, see GOF and CLM. Next expected date on the live calendar.
Heavy Return-of-Capital Fund? Track Your Real Cost Basis
Distributions classified as return of capital lower your cost basis and change your tax bill when you sell. Our free calculator does the lot-by-lot math.
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