NEW YORK, July 14, 2005 (PRIMEZONE) -- The Board of Trustees of PIMCO Global StocksPLUS & Income Fund (the "Fund") (NYSE:PGP) announced today that it has declared the Fund's initial monthly dividend of $0.18335 per share. At the Fund's initial offering price of $25.00, this dividend rate represents an annualized distribution yield of 8.80%.
The dividend will be payable on August 1, 2005 to shareholders of record on July 27, 2005, with an ex-dividend date of July 25, 2005. It is the Fund's intention going forward to declare monthly dividends on the first business day of each month with a payment date of the first business day of the following month.
The Fund is a newly organized, non-diversified, closed-end management investment company. The Fund's investment objective is to seek total return comprised of current income, current gains and long-term capital appreciation.
Allianz Global Investors Fund Management LLC, an indirect, wholly-owned subsidiary of Allianz Global Investors of America L.P., serves as the Fund's 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 Fund's sub-adviser. Allianz is a leading global financial services company.
The Fund's daily New York Stock Exchange closing price and net asset value per share as well as other information is available at www.allianzinvestors.com or by calling the Fund's transfer agent at-800-331-1710.
Statements made in this release that look forward in time involve risks, uncertainties and other factors and are forward looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such risks, uncertainties and other factors include, without limitation, the varied nature of the Fund's investments and the performance of those investments, and that the ultimate characterization of the Fund's distributions made in a calendar or fiscal/tax year cannot finally be determined until after the end of the fiscal/tax year, resulting in the possibility that the Fund may make total distributions during a calendar or fiscal /tax year in an amount that exceeds the Fund's net investment income and net realized capital gains for the fiscal year, resulting in a return of capital, as well as adverse effects from a decline in the securities markets or a decline in the Fund's performance, a general downturn in the economy, changes in government policy or regulation, and unforeseen costs and other effects related to legal proceedings or investigations of governmental and self-regulatory organizations. As a result of the foregoing and other factors, no assurance can be given as to the timing, composition or character of Fund distributions, and neither the Fund, Allianz Global Investors Fund Management LLC, Pacific Investment Management Company LLC, nor any other person assumes responsibility for the accuracy and completeness of such statements.