PIMCO Dynamic Credit Income Fund Declares Initial Monthly Dividend of 15.625 Cents Per Common Share

PIMCO Dynamic Credit Income Fund Declares Initial Monthly Dividend of 15.625 Cents Per Common Share

NEW YORK--(BUSINESS WIRE)-- The Board of Trustees of the PIMCO Dynamic Credit Income Fund (the "Fund") (NYS: PCI) announced today that it has declared the Fund's initial monthly dividend of $0.15625 per common share. At the Fund's initial offering price of $25.00 per share, this monthly dividend rate represents an annualized distribution yield of 7.50%.

The dividend will be payable on April 1, 2013 to shareholders of record on March 18, 2013 with an ex-dividend date of March 14, 2013. Based on projections through the payable date, it is expected that this distribution will be comprised of net investment income.

Going forward, it is anticipated that the Fund will declare monthly dividends on the first business day of each month with a payment date on the first business day of the following month. The next monthly dividend is expected to be declared on or about April 1, 2013 and be payable on or about May 1, 2013.

Although it does not currently intend to do so, as portfolio and market conditions change, the dividend rate and the Fund's policy to declare dividends monthly could be changed by the Board of Trustees.

The Fund is a registered closed-end investment company. The Fund seeks current income as a primary objective and capital appreciation as a secondary objective. There can be no assurance that the Fund will meet its stated objectives.

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 ("PIMCO"), an AGIFM affiliate, serves as the Fund's sub-adviser.

The Fund's daily New York Stock Exchange closing prices, net asset values per share, as well as other information, are available at www.allianzinvestors.com or by calling the Fund's shareholder servicing agent at (800) 254-5197.

Statements made in this release that look forward in time involve risks and uncertainties and are forward looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such risks and uncertainties include, without limitation, the adverse effect from a decline in the securities markets or a decline in the Fund's performance, a general downturn in the economy, competition from other companies, changes in government policy or regulation, inability to attract or retain key employees, inability to implement its operating strategy and/or acquisition strategy, and unforeseen costs and other effects related to legal proceedings or investigations of governmental and self-regulatory organizations. The Fund's ability to pay dividends to common shareholders is subject to the restrictions in its registration statement, by-laws and other governing documents, as well as the Investment Company Act of 1940.

The actual composition and character of the distribution described above and future distributions of the Fund may be materially different from the composition or character of such distributions that existed at the time of this press release. Such factors include the varied nature of the Fund's investments and the performance of those investments, and that the ultimate characterization of the Fund's distributions cannot finally be determined until the end of the Fund's fiscal year, resulting in the possibility of a return of capital if the Fund makes total distributions during a fiscal year in an amount that exceeds the Fund's net investment income and net realized capital gains for the fiscal year. As a result of the foregoing and other factors, no assurance can be given as to the actual composition or character of Fund distributions at the time of this press release by the Fund, AGIFM, PIMCO, nor any of their trustees, members, officers or employees.

For Information on PIMCO Closed-End Funds:
Financial Advisors: (800) 628-1237
Shareholders: (800) 254-5197
Media Relations: (212) 739-3501

KEYWORDS:   United States  North America  New York


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