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2008-12-31 — bloomberg.com
"Pacific Investment Management Co., which runs the world’s largest bond fund, said it is postponing two dividend payments to investors in a pair of closed-end municipal bond funds.
Proceeds from the Pimco Municipal Income Fund and the Pimco New York Municipal Income Fund II were due today and on Feb. 2, Newport Beach, California-based Pimco said in a statement.
“The funds intend to resume paying and declaring dividends as soon as possible,†the company said. Pimco said continuing problems in the capital market caused the values of the funds’ portfolios to decline and led to the decision."
Proceeds from the Pimco Municipal Income Fund and the Pimco New York Municipal Income Fund II were due today and on Feb. 2, Newport Beach, California-based Pimco said in a statement.
“The funds intend to resume paying and declaring dividends as soon as possible,†the company said. Pimco said continuing problems in the capital market caused the values of the funds’ portfolios to decline and led to the decision."
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