PIMCO Corporate & Income Strategy Fund
PCNFinancial Services · Stock · monthly payer
Forward Yield
12.15%
Annual Dividend
$1.35
Payout Ratio
144%
5-Yr Growth
0.0%
Ex-Date
Sep 11, 2026
Frequency
Monthly
Summary
As of September 2026, PIMCO Corporate & Income Strategy Fund (PCN) yields 12.15% ($1.35 per share annually), with a blended fair-value estimate of $13.12 — +18% upside, so it screens as undervalued. Dividend safety grade: B (71/100).
Is PCN a good dividend stock?
Yes, with caveatsPIMCO Corporate & Income Strategy Fund (PCN) pays a monthly dividend yielding 12.15% ($1.35/yr), with 0 years of growth and a dividend-safety grade of B. It's a solid income payer, but check the caveats below before buying.
Advantages
Risks
- Cut its dividend in 2015
- Elevated payout ratio (144%)
- Very high yield can signal elevated risk
- Share price is down over the past 5 years
Key Data
- Dividend Yield
- 12.15%
- Payout Ratio
- 144%
- Annual Dividend
- $1.35
- 5-Yr Avg Growth
- 0.0%
- Ex-Dividend Date
- Sep 11, 2026
- Years of Growth
- 0
- Frequency
- monthly
- Beta
- 0.79
- Market Cap
- $838.7M
- P/E Ratio
- 11.8
- 5-Yr Total Return
- -39%
- 52-Week Range
- $11.06 – $13.49
- Dividend Safety
- B · 71/100
- Ever Cut?
- Yes (2015)
Frequently Asked Questions
PCN Price — Last 12 Months
Daily close
Price Return
1 Year
-15%
3 Years
-2%
5 Years
-39%
52-Week Range
$11.06 – $13.49
Price change over each period (excludes dividends). Past performance doesn't guarantee future results.
What is PCN worth?
Undervaluedmedium confidenceOur blended fair-value estimate for PIMCO Corporate & Income Strategy Fund is $13.12 per share, versus a market price of $11.11. That implies 18% of upside — a margin of safety of about 15%.
Fair Value
$13.12
Current Price
$11.11
Upside
+18%
Margin of Safety
15%
How we get there
Discounted cash flow
Discounts projected free cash flow back to today.
Dividend discount
Discounts the future dividend stream back to today.
Earnings multiple (Graham)
Graham's earnings-multiple formula, anchored to bond yields.
At today's price, the market is pricing in about 0.7% annual free-cash-flow growth. We model 0.0% — so the price already assumes faster growth than we think is likely.
Assumptions: 8.2% discount rate (CAPM), 0.0% stage-1 growth, 2.5% terminal growth, $0.94 EPS, $1.35 annual dividend. Updated weekly.
Fair-value estimates are model output for educational purposes only — not investment advice or a price target.
PCN Dividend Safety Score
Safe
SmarterDividends' proprietary score, backtested against which dividends were actually cut over 15+ years (0.78 AUC). It blends a validated cut-risk model (growth streak, cut history) with current payout, cash-flow and debt. Higher is safer · not investment advice.
Dividend Growth
Total dividends per share by year
Dividend History
| Ex-Date | Pay Date | Amount | Type |
|---|---|---|---|
| Sep 11, 2026 | — | $0.1130 | regular |
| Aug 13, 2026 | — | $0.1130 | regular |
| Jul 13, 2026 | — | $0.1130 | regular |
| Jun 11, 2026 | — | $0.1130 | regular |
| May 11, 2026 | — | $0.1130 | regular |
| Apr 13, 2026 | — | $0.1130 | regular |
| Mar 12, 2026 | — | $0.1130 | regular |
| Feb 12, 2026 | — | $0.1130 | regular |
| Jan 13, 2026 | — | $0.1130 | regular |
| Dec 11, 2025 | — | $0.1130 | regular |
| Nov 14, 2025 | — | $0.1130 | regular |
| Oct 14, 2025 | — | $0.1130 | regular |
| Sep 12, 2025 | — | $0.1130 | regular |
| Aug 11, 2025 | — | $0.1130 | regular |
Income Calculator
At $1.35 / yr per share
