NEW YORK, Dec. 17, 2008 (GLOBE NEWSWIRE) -- PIMCO High Income Fund (NYSE:PHK) and PIMCO Floating Rate Strategy Fund (NYSE:PFN) today announced that the common share dividends previously declared on October 1, 2008 and October 3, 2008, respectively, will be paid on December 17, 2008.
Accordingly, the previously declared dividends ($0.121875 and $0.098675 per common share for PHK and PFN, respectively), which were postponed on November 3, 2008 and November 7, 2008, respectively, will be paid on December 17, 2008 to shareholders of record on October 11, 2008 for PHK, and to shareholders of record on October 13, 2008 for PFN.
PHK's investment objective is to seek high current income. Capital appreciation is a secondary objective. PFN's investment objective is to seek high current income, consistent with the preservation of capital. There can be no assurance that PHK and PFN (each a "Fund" and collectively, the "Funds") will achieve their stated objectives.
Allianz Global Investors Fund Management LLC, an indirect, wholly-owned subsidiary of Allianz Global Investors of America L.P., serves as the Funds' investment manager and is a member of Munich-based Allianz Group (NYSE:AZ). Pacific Investment Management Company LLC, an Allianz Global Investors Fund Management affiliate, serves as the Funds' sub-adviser.
The Funds' daily New York Stock Exchange closing prices and net asset values per share are available by calling the Funds' shareholder servicing agent at (800) 331-1710. This information, as well as updated portfolio statistics and performance, is available at http://www.allianzinvestors.com.
Statements made in this release that look forward in time involve risks and uncertainties and are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such risks and uncertainties include, without limitation, the adverse effect from further declines in the securities markets and in the Funds' performance, a general downturn in the economy, inability to obtain leverage to replace ARPS that have been redeemed, competition from other companies, changes in government policy or regulation, inability to attract or retain key employees, inability to implement their operating strategy and/or acquisition strategy, and unforeseen costs and other effects related to legal proceedings or investigations of governmental and self-regulatory organizations. The Funds' ability to maintain leverage and 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.