PIMCO California Municipal Income Fund III (PZC)

PZ Cussons (LSE:PZC) will retain its Africa business after a strategic review by the board determined that offers received did not reflect the business's underlying value. The soap and shampoo maker said it is now targeting long-term growth in its African markets, particularly Nigeria, Kenya and Ghana.

PZ Cussons (LSE:PZC) shares lathered up 10% to 74.8p, bouncing from recent two-decade lows, after the soaps and cleaning products group raised its profit forecast for the year. This followed reporting stronger-than-expected sales growth in the first half, largely driven by a robust performance in Africa, revealed by the London-listed group ahead of its annual shareholder meeting.

PZ Cussons (LSE:PZC) reported solid annual results and kept its dividend flat at 3.6p per share as it worked on a plan to simplify the business. Adjusted operating profit fell by 5.8% to £54.9 million for the year ended 31 May 2025, as revenue grew 8% on a like-for-like basis despite a 2.7% decline in reported revenue to £513.8 million due to foreign exchange impacts.

NEW YORK, Aug. 01, 2025 (GLOBE NEWSWIRE) -- The Boards of Trustees/Directors of the PIMCO closed-end funds below (each, a “Fund” and, collectively, the “Funds”) have declared a monthly distribution for each Fund's common shares as summarized below.

NEW YORK, July 01, 2025 (GLOBE NEWSWIRE) -- The Boards of Trustees/Directors of the PIMCO closed-end funds below (each, a “Fund” and, collectively, the “Funds”) have declared a monthly distribution for each Fund's common shares as summarized below.

PZ Cussons (LSE:PZC) shares fell 2% to 74p after the company said it has decided not to sell its St. Tropez self-tanning brand, but instead set a "new strategic direction", bolstered by a partnership with US partner Emerson Group.

PZ Cussons (LSE:PZC), the maker of Imperial Leather and Carex soaps, has agreed to sell its half of a Nigerian edible oils joint venture as it continues to review strategic options for its African businesses.  The FTSE 250 group said it has struck a deal to sell its 50% stake in PZ Wilmar to partner Wilmar International for $70 million (£51 million), with expected net proceeds of roughly $64 million (£47 million).

NEW YORK, June 02, 2025 (GLOBE NEWSWIRE) -- The Boards of Trustees/Directors of the PIMCO closed-end funds below (each, a “Fund” and, collectively, the “Funds”) have declared a monthly distribution for each Fund's common shares as summarized below. The distributions are payable on July 1, 2025 to shareholders of record on June 12, 2025, with an ex-dividend date of June 12, 2025.

NEW YORK, April 04, 2025 (GLOBE NEWSWIRE) -- The Board of Trustees of each of the following funds has approved the following proposals to reorganize the PIMCO closed-end municipal funds (each, a “Merger” and collectively, the “Mergers”), subject to the various shareholder approvals and other contingencies described below:

PZ Cussons (LSE:PZC) shares rose 9% in early trading after the soap maker returned to profit in the first half of its financial year. It reported a £6.4 million pre-tax profit, a sharp turnaround from last year's £94.2 million loss, despite a 10% drop in revenue to £269.3 million.

NEW YORK, Feb. 03, 2025 (GLOBE NEWSWIRE) -- The Boards of Trustees/Directors of the PIMCO closed-end funds below (each, a “Fund” and, collectively, the “Funds”) have declared a monthly distribution for each Fund's common shares as summarized below. The distributions are payable on March 3, 2025 to shareholders of record on February 13, 2025, with an ex-dividend date of February 13, 2025.

NEW YORK, Nov. 01, 2024 (GLOBE NEWSWIRE) -- The Boards of Trustees/Directors of the PIMCO closed-end funds below (each, a “Fund” and, collectively, the “Funds”) have declared a monthly distribution for each Fund's common shares as summarized below. The distributions are payable on December 2, 2024 to shareholders of record on November 12, 2024, with an ex-dividend date of November 12, 2024.

NEW YORK, Oct. 01, 2024 (GLOBE NEWSWIRE) -- The Boards of Trustees/Directors of the PIMCO closed-end funds below (each, a “Fund” and, collectively, the “Funds”) have declared a monthly distribution for each Fund's common shares as summarized below. The distributions are payable on November 1, 2024 to shareholders of record on October 11, 2024, with an ex-dividend date of October 11, 2024.

Back in April, Imperial Leather-owner PZ Cussons (LSE:PZC) announced a review of its Africa operations that could yet lead to the FTSE 250-listed company ditching operations in the continent entirely. Amid a plummeting Nigerian naira and wider macroeconomic uncertainty in the region, chief executive Jonathan Myers declared “a strategic review of our brands and geographies” in order to refocus “on where the business can be most competitive”.

PZC has seen a modest loss since my last review, and I'm not too optimistic about its future prospects either. The fund's discount to NAV could look compelling, but it is actually narrow compared to sister funds from PIMCO. California munis have plenty of merit right now for high-income residents, but there are risks to state and local government finances if the economy sours.

NEW YORK, July 01, 2024 (GLOBE NEWSWIRE) -- The Boards of Trustees/Directors of the PIMCO closed-end funds below (each, a “Fund” and, collectively, the “Funds”) have declared a monthly distribution for each Fund's common shares as summarized below. The distributions are payable on August 1, 2024 to shareholders of record on July 11, 2024, with an ex-dividend date of July 11, 2024.