It's four times a year, although no real dates are ever published - and not the least because such update doesn't really run overnight.
I read in a post recently where it stated google updates PR once in every 3 months. This update is just for PR and not regular updates that happend every now and then
No truth of this statement ...as we see in this years first pr update was on feb 4, 2013 and since then nearly six month no pr update...It is not sure...and never predictable...
As per My point of view, It's not Sure. you check history for PR update. In last year it happened 3 times (May, August and November). In 2013 it updated on 4th Feb. after feb there is no updation.
You'll get it eventually when you build backlinks from high(er) PR sites. But PR is quite useless anyways, so no need to obsess over it.
You only shouldn't - you need diversity. But as PR is not any indication of either the actual rank of the site nor how much it bears traffic, it's relatively useless metric.
Its not sure that PR will update in every 3 months i think hopefully it will update next 2 to 3 months
Google update the Page Rank four times in a year and this time we see only one time page rank update. We are expected that Google update the page rank in August.
That's simply not true. I have skyrocketed websites to the first page of Google for very competitive high volume keywords by using links from high PR sites.