SmarterDividends
PCQ

PIMCO California Municipal Income Fund

PCQ

Financial Services · Asset Management · Stock · monthly payer

$7.92

Undervalued · +56% Add to Portfolio

Forward Yield

5.45%

Annual Dividend

$0.43

Payout Ratio

39%

5-Yr Growth

-9.9%

Ex-Date

Sep 11, 2026

Frequency

Monthly

Key facts about PCQ's dividend

Data as of · Source: SmarterDividends data

  • As of Oct 23, 2026, PIMCO California Municipal Income Fund (PCQ) has a forward dividend yield of 5.45%, based on an annual dividend of $0.43 per share and a share price of $7.92.
  • As of Oct 23, 2026, PCQ's dividend safety grade from SmarterDividends is B (66 out of 100), which rates the dividend as safe.
  • PCQ last cut its regular dividend in 2022.
  • PCQ's most recent ex-dividend date was Oct 13, 2026, for a dividend of $0.0360 per share.
  • As of Oct 23, 2026, PCQ pays out 39% of its trailing 12-month earnings as dividends (its payout ratio).
  • PCQ's dividend has shrunk at an average rate of 9.9% a year over the past five years.
  • As of Oct 23, 2026, PCQ's 5.45% yield is 16% above its five-year average yield of 4.68%.
  • As of Oct 23, 2026, SmarterDividends' blended fair-value estimate for PCQ is $12.34 per share, 56% above the $7.92 share price, so PCQ screens as undervalued.
  • PIMCO California Municipal Income Fund (PCQ) pays its dividend monthly, 12 times a year.
  • PIMCO California Municipal Income Fund (PCQ) has raised its regular dividend 2 times and cut it 2 times across the 303 payments on record since 2001. Its most recent change was a 100.0% increase to $0.0360 per share, going ex-dividend on Jan 12, 2023. The last cut went ex-dividend on Dec 14, 2022.
Cite this page

SmarterDividends, "PCQ Dividend: Yield, Safety Grade & Next Ex-Date," updated Oct 23, 2026, https://smarterdividends.com/stocks/PCQ

Summary

As of Oct 23, 2026, PIMCO California Municipal Income Fund (PCQ) yields 5.45% ($0.43 a year per share) and has a dividend safety grade of B (66/100).

Is PCQ a good dividend stock?

Yes, with caveats

PIMCO California Municipal Income Fund (PCQ) pays a monthly dividend yielding 5.45% ($0.43/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

  • Comfortable payout ratio (39%)

Risks

  • Cut its dividend in 2022
  • Dividend has been shrinking, not growing
  • Share price is down over the past 5 years

Key Data

Dividend Yield
5.45%
Payout Ratio
39%
Annual Dividend
$0.43
5-Yr Avg Growth
-9.9%
Ex-Dividend Date
Sep 11, 2026
Years of Growth
0
Frequency
monthly
Beta
0.43
Market Cap
$150.3M
P/E Ratio
7.2
5-Yr Total Return
-58%
52-Week Range
$7.57 – $9.19
Dividend Safety
B · 66/100
Ever Cut?
Yes (2022)

PCQ dividend raises and cuts

PIMCO California Municipal Income Fund (PCQ) has raised its regular dividend 2 times and cut it 2 times across the 303 payments on record since 2001. Its most recent change was a 100.0% increase to $0.0360 per share, going ex-dividend on Jan 12, 2023. The last cut went ex-dividend on Dec 14, 2022.

Ex-dateChangeOld → newMove
Jan 12, 2023Raise$0.0180 → $0.0360+100.0%
Dec 14, 2022Cut$0.0650 → $0.0180−72.3%
Jan 10, 2020Cut$0.0770 → $0.0650−15.6%
Jan 9, 2002Raise$0.0750 → $0.0770+2.7%
Every PCQ payment →Download every raise and cut (CSV)
PCQ ex-dividend date & scheduleNext ex-date Sep 11, 2026 · full ex-dividend historyView →PCQ dividend historyEvery payment, totals by year, raises and cutsView →

Frequently Asked Questions

Is PCQ a good dividend stock?

Yes, with caveats. PIMCO California Municipal Income Fund (PCQ) pays a monthly dividend yielding 5.45% ($0.43/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.

Is PCQ undervalued?

Based on a blend of discounted cash flow, a dividend-discount model and an earnings-multiple estimate, PCQ's fair value is about $12.34 versus a $7.92 share price — so it looks undervalued (+56% vs. fair value).

Is PCQ's dividend safe?

PCQ has a dividend-safety grade of B (66/100), based on its payout coverage, free-cash-flow, 0-year growth streak, a dividend cut in 2022, debt and yield-versus-history.

What is PCQ's fair value?

Our blended fair-value estimate for PCQ is about $12.34 per share, roughly 56% above the current $7.92 price — combining a discounted cash flow, a dividend-discount model and an earnings multiple.

Is PCQ a buy, hold, or sell?

We don't issue formal ratings, but on the data PCQ screens as "yes, with caveats" and undervalued. PIMCO California Municipal Income Fund (PCQ) pays a monthly dividend yielding 5.45% ($0.43/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. This is research for your own analysis, not investment advice.

Will PCQ cut its dividend?

PCQ earns a dividend-safety grade of B (66/100), and has cut its dividend before (last in 2022). A higher score means lower cut risk based on payout coverage, cash flow and history — but no score guarantees a dividend.

Does PCQ pay a dividend?

Yes. PIMCO California Municipal Income Fund pays a monthly dividend of about $0.43 per share annually, a forward yield of roughly 5.45%.

What is PCQ's dividend yield?

As of Oct 23, 2026, PCQ's forward dividend yield is 5.45%, based on a $0.43 annual dividend and a $7.92 share price.

What is PCQ's dividend per share?

As of Oct 23, 2026, PCQ pays $0.43 per share per year, distributed on a monthly basis.

What is PCQ's dividend payout ratio?

As of Oct 23, 2026, PCQ's payout ratio is 39% of trailing 12-month earnings — a comfortable level that leaves room to keep raising the dividend.

How many years has PCQ grown its dividend?

PCQ does not currently have a long dividend-growth streak on record.

When is the next PCQ ex-dividend date?

As of Oct 23, 2026, PCQ's next ex-dividend date hasn't been announced. The most recent was Oct 13, 2026, for $0.0360 per share.

Income Calculator

At $0.43 / yr per share

Per payment (monthly)$3.58
Annual$43.00
Monthly avg$3.58

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