PIMCO Income Strategy Fund II invests across income-producing debt, including corporate credit, loans and mortgage-related securities. Interest from those holdings is the starting point for its monthly distribution.
Business
Multisector closed-end credit fund
Listing
PFN · New York Stock Exchange
Reporting period
2026-06-30
Dividend schedule
Monthly
How the business works
PIMCO can shift the credit mix as opportunities change. Borrowers pay interest to the fund, which then meets its financing and operating costs. Fiscal 2026 net investment income was $0.74 per share against $0.86 of cash distributions. Gains can also contribute, but they are a separate part of the story from recurring portfolio income.
Extras are shown separately and are not assumed to repeat.
Reported earnings
Each measure shown separately, per share
Net investment income$0.74
Jul 1, 2025 to Jun 30, 2026
$0.00$0.74
Dividend yield0.14%Public Researched current estimateReported annual income yield10.38%Reported net investment income $0.7400 per share for 2025-07-01 to 2026-06-30, divided by approved 2026-06-30 market price $7.1300. Excludes capital gains; historical, not a current yield or forecast.Reported annual investment income$0.74Per share for 2026 FY. Excludes investment gains.Annual dividend$0.86Public Researched regular dividend per share
Dividend payment history
Date or month
Per share
Oct 1, 2026
$0.0718
Reported earnings and sources
Reported earnings for the latest four periods. Compare the same earnings measure across periods; different measures are not added together.
Cash distributions are the total paid per share during each reporting period, including any gains or return of capital. Period lengths may differ, so compare the dates before comparing amounts. Short periods are not annualized.
NAV change excludes distributions. Reported NAV total return includes reinvestment and is copied from the fund statement, not estimated by adding cash distributions to the NAV change.
How to read PFN income
Income from holdings, investment gains and the fund's expenses each affect what is available for distributions. The mix depends on the portfolio.
Follow cash payments and NAV together. Borrowing and holdings in other funds can add costs and amplify changes in portfolio value.
The reported investment income is before payments to preferred shareholders. Those payments also draw on the fund, so this income figure is not the amount left to cover common-share distributions.
Income and distributions
Income and cash distributions per share for the same dated periods. Shorter periods are kept separate and are not annualized. Income from holdings, investment gains and the fund's expenses each affect what is available for distributions. The mix depends on the portfolio.
Financial snapshot: 2026-06-30. Research reviewed 2026-09-30. The business and income figures come from the fiscal year ended June 30, 2026. The current NAV and share price have their own later date. We will refresh the income view when the next comparable report arrives.
The assets it owns
See reported portfolio detailsTaxable multisector closed-end fund
The value of PFN’s debt investments and its financing obligations together determine NAV per common share. The dated NAV and market price below show where that balance stood, not how much cash was available for the next distribution.
Read NAV per share alongside the fund’s reported income and distributions. A move in NAV does not by itself explain the source of a monthly payment.
The fiscal 2026 annual filing reports $0.74 per common share of net investment income and $0.86 of cash distributions. Earlier full June fiscal years are shown in the income and distribution histories. The annual filing’s total investment return is based on market price, not NAV.
PFN invests across debt markets and reported $0.74 per share of fiscal 2026 net investment income against $0.86 of cash distributions.
The portfolio is built for income. We want to see more of the monthly payment carried by net investment income after the fund’s costs, while reading gains and other resources separately.
PIMCO manages the fund across credit sectors, and financing costs reduce the income left for common shareholders.
The next report will tell us whether borrower results and funding costs are helping income catch up with distributions. The market discount is a separate price question.
Start with the next reported net investment income and cash distributions for the same period. Then check whether the monthly rate changes and how gains, financing costs and NAV have moved.
Net asset value (NAV)
NAV per share$6.59Sep 29, 2026Market price$6.29Sep 29, 2026PREMIUM / DISCOUNT TO NAV4.55% discountCalculated from the displayed same-date values.
NAV is the fund's assets minus liabilities, divided by shares outstanding. All values are USD per share.
CEFConnect current common-share NAV and closing market price, both dated 2026-09-29. The published premium or discount agrees with the calculation within source rounding. Earlier SEC-reported NAV history is retained.
PFN offers a steady monthly income stream, and its debt portfolio has more than one way to generate returns. Our focus now is the recurring part: fiscal 2026 net investment income covered 86.05% of cash distributions, less than the prior year. We will look for that gap to narrow and keep NAV and investment gains in view. The current discount tells us what the market paid relative to NAV on one date, not whether the distribution is earned.
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U.S. federal · Tax year 2025 · Selected payments only
Dividend tax treatment
For six payments from February through July 2025, PIMCO reported $0.039695 of return of capital out of $0.4308 distributed per common share.
These figures cover only the February through July 2025 payments. They describe $0.4308 per share across 6 payments, not the full 2025 tax mix. The company form identifies return of capital for these six payments only. It does not classify the rest of the payments as ordinary dividends, or tell us the full calendar-year mix. Use your Form 1099-DIV for the full year. See the company's tax filing.
Total ordinary dividends
Not confirmed
Qualified dividends
Not confirmed
Capital-gain distributions
Not confirmed
Return of capital
9.21%
The payments named above have company-backed tax information, and that is worth seeing. Other 2025 payments may have a different mix, so we have not extended these percentages beyond the dates the source actually covers. Your full-year tax statement completes the story.
Qualified dividends are included in total ordinary dividends. Section 199A is a separate designation within ordinary dividends, not extra income or qualified dividend income.
Your account type, holding period and circumstances affect treatment. Use your broker’s tax statement for filing. Return of capital generally reduces cost basis; amounts beyond basis can be taxable. IRS dividend guidance.
