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MarketScreener Homepage  >  Equities  >  Nyse  >  PIMCO Municipal Income Fund III    PMX

PIMCO MUNICIPAL INCOME FUND III

(PMX)
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PIMCO Municipal Income Fund III : Reports Results for the Fiscal Quarter and Nine Months Ended June 30, 2014

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08/29/2014 | 04:01pm EDT

PIMCO Municipal Income Fund III (the "Fund") (NYSE:PMX), a closed-end management investment company which seeks to provide current income exempt from federal income tax, today announced its results for the fiscal quarter and nine months ended June 30, 2014.

 
   

At June 30,

       

2014

2013

Net Assets (a) $533,548,095 $515,178,866
Common Shares Outstanding 32,557,340 32,464,805
Net Asset Value ("NAV") $10.58 $10.05
Market Price $11.10 $11.01
Premium to NAV 4.91% 9.55%
Undistributed (Overdistributed) Net Investment
Income Per Common Share (b) $(0.0247) $0.0496
 

Quarter ended June 30,

 

2014

2013

Net Investment Income $6,199,057 $6,021,333
Per Common Share $0.19 $0.18
Net Realized and Change in Unrealized Gain (Loss) $15,439,365 $(32,382,646)
Per Common Share $0.47 $(0.99)
 

Nine Months ended June 30,

 

2014

2013

Net Investment Income $18,399,315 $18,542,466
Per Common Share $0.56 $0.57
Net Realized and Change in Unrealized Gain (Loss) $34,139,732 $(29,494,004)
Per Common Share $1.05 $(0.90)
 
(a) Net assets are inclusive of Preferred Shares of $189 million.
 
(b) Since the Fund’s net earning rates fluctuate from month to month, there will be periods when the Fund may over-earn or under-earn its monthly dividend rate. This fluctuation will have the effect of adding to or subtracting from the Fund's undistributed (overdistributed) net investment income balance. Fund management analyzes the current and projected net earning rates prior to recommending dividend amounts to the Fund's Board of Trustees for declaration. There can be no assurance that the monthly dividend rate will remain at its current level or that the undistributed net investment income balance, if any, will be sufficient to cover any shortfall in earnings to meet the current dividend rate.
 
      Top 5 State Positions at June 30, 2014

(as a percentage of total investments)

California 17.6 %
New York 12.3 %
Texas 11.2 %
Alabama 10.1 %
Arizona 6.7 %
 

Allianz Global Investors Fund Management LLC ("AGIFM"), an indirect, wholly-owned subsidiary of Allianz Asset Management of America L.P. serves as the Fund's investment manager and is a member of Munich-based Allianz Group. Pacific Investment Management Company LLC, an AGIFM affiliate, serves as the Fund's sub-adviser.

The Fund's daily New York Stock Exchange closing market price, NAV, as well as other information, are available at us.allianzgi.com/closedendfunds or by calling the Fund's shareholder servicing agent at (800) 254-5197.

The financial information contained herein is solely based upon the data available at the time of publication of this press release, and there is no assurance that any future results will be the same or similar to what is reported herein. Information that was obtained from third party sources we believe to be reliable is not guaranteed as to its accuracy or completeness. This press release contains no recommendations to buy or sell any specific securities and should not be considered investment advice of any kind. Past performance is no guarantee of future results and the investment returns generated by the Fund will fluctuate. There can be no assurance that the Fund will meet its stated objective. The Fund's ability to pay dividends to common shareholders is subject to the restrictions in its registration statements, By-laws and other governing documents as well as the Investment Company Act of 1940. In making any investment decision, individuals should utilize other information sources and the advice of their own professional adviser.


© Business Wire 2014
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Financials (USD)
Sales 2019 31,2 M - -
Net income 2019 52,5 M - -
Net Debt 2019 167 M - -
P/E ratio 2019 8,56x
Yield 2019 4,93%
Capitalization 380 M 380 M -
EV / Sales 2018 16,2x
EV / Sales 2019 18,7x
Nbr of Employees -
Free-Float 100%
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Managers
NameTitle
Peter G. Strelow President & Chief Executive Officer
Hans W. Kertess Chairman
William B. Ogden Independent Trustee
John C. Maney Trustee
James A. Jacobson Independent Trustee