High Income Securities Fund announces monthly distributions for the first quarter of 2022

NEW YORK–(COMMERCIAL THREAD) – High Income Securities Fund, Inc. (NYSE: PCF) (the “Fund”) today announced that the Board of Directors of the Fund (the “Board”) has declared the upcoming quarterly dividends in connection with the managed distribution plan of the Fund.

As part of the Fund’s managed distribution plan, the Fund intends to pay monthly distributions to common shareholders at an annual rate of 10% (or 0.8333% per month) for 2022, based on the value net asset value of $ 8.75 of the common shares of the Fund on December 31, 2021.

The next three dividends for 2022 declared under the managed distribution plan are as follows:

Month

Distribution

Registration Date

Payment date

January

$ 0.073

January 20, 2022

January 31, 2022

February

$ 0.073

February 17, 2022

February 28, 2022

March

$ 0.073

March 22, 2022

March 31, 2022

Under the managed distribution plan, to the extent that sufficient investment income is not available on a monthly basis, the Fund will distribute long term capital gains and / or return of capital. To the extent that the net investment income and net realized capital gains of the Fund exceed the total amount distributed in accordance with the managed distribution plan, the Fund may make an additional year-end distribution. No conclusions should be drawn about the performance of the Fund’s investments from the amount of the distributions. The board may change the terms of the managed distribution plan or terminate the plan at any time without notice to shareholders, which could adversely affect the market price of the common shares of the Fund. The Plan will be subject to a periodic review by the Board, including an annual review of the Annual Fixed Rate to determine if an adjustment should be made.

The Fund will publish a notice to shareholders which will provide an estimate of the composition of each distribution. For tax reporting purposes, the actual composition of the total amount of distributions for each year will continue to be provided on a Form 1099-DIV issued after the end of the year.


Source link

Comments are closed.