DoubleLine Income Solutions Declares December 2020 and Special Year-End Distributions

Rhea-AI Summary

DoubleLine Income Solutions Fund (NYSE: DSL) announced a monthly distribution of $0.11 per share for December 2020, down from $0.15 in November. This reduction aims to align distributions with the Fund's expected earnings. Additionally, a special year-end distribution of $0.012 per share has been declared. Important dates include ex-dividend on December 16, record on December 17, and payment on December 31, 2020.

Positive

• None.

Negative

• Monthly distribution decreased by $0.04 compared to the previous month.
• Reduction in distribution may indicate potential alignment issues with expected earnings.

LOS ANGELES, Dec. 1, 2020 /PRNewswire/ -- DoubleLine Income Solutions Fund (the "Fund"), which is traded on the New York Stock Exchange under the symbol DSL, this week declared a distribution of $0.11 per share for the month of December 2020.

The $0.11 distribution represents a reduction of $0.04 from the distribution of $0.15 for the prior month. The reduction was implemented to better align monthly distributions with the Fund's expected earnings in light of such variables as, but not limited to, Fund management's outlook for investment opportunities in the Fund's addressable market.

Separately, the Fund declared a special year-end distribution of $0.012 per share.

The distributions are subject to the following ex-dividend, record and payment dates set by the Fund's Board of Trustees.

December 2020
Declaration	Tuesday, Dec. 1, 2020
Ex-Dividend	Wednesday, Dec. 16, 2020
Record	Thursday, Dec. 17, 2020
Payment	Thursday, Dec. 31, 2020

 This press release is not for tax reporting purposes. The press release has been issued to announce the amount and timing of the distributions declared by the Board of Trustees. There is a possibility that distributions may include ordinary income, long-term capital gains or return of capital. For information on whether the distribution includes a return of capital, please contact us on or after the distribution payment date. The amount of distributable income and the tax characteristics of the distributions are determined at the end of the taxable year. In early 2021, the Fund will send shareholders a Form 1099-DIV specifying how the distributions paid by the Fund during the prior calendar year should be characterized for purposes of reporting the distributions on a shareholder's tax return.

About DoubleLine Income Solutions Fund

The Fund's primary investment objective is to seek high current income; its secondary objective is to seek capital appreciation. The Fund seeks to achieve its investment objectives by investing in a portfolio of investments selected for their potential to provide high current income, growth of capital, or both. DoubleLine Capital LP ("DoubleLine"), the Fund's investment adviser, expects that the Fund will normally invest at least 80% of its net assets (plus any borrowings for investment purposes) in debt securities and other income-producing investments anywhere in the world, including emerging markets. The Fund may invest in mortgage-backed securities of any kind and may invest without limit in securities rated below investment grade (commonly referred to as "high yield" securities or "junk bonds"). There is no guarantee that the Fund will achieve its investment objectives. Investing in the Fund involves the risk of principal loss.

About DoubleLine Capital LP

DoubleLine Capital is an investment adviser registered under the Investment Advisers Act of 1940. DoubleLine's offices can be reached by telephone at (213) 633-8200 or by e-mail at info@doubleline.com. Media can reach DoubleLine by e-mail at media@doubleline.com. DoubleLine® is a registered trademark of DoubleLine Capital LP.

To read about the DoubleLine Income Solutions Fund, please access the Annual Report at www.doublelinefunds.com or call 877-DLINE11 (877-354-6311) to receive a copy. Investors should consider the Fund's investment objective, risks, charges and expenses carefully before investing. An investment in the Fund should not constitute a complete investment program. Investors should note that the Fund only can be obtained through a broker.

This document is not an offer to sell securities or the solicitation of an offer to buy securities, nor shall there be any sale or offer of these securities, in any jurisdiction where such sale or offer is not permitted.

Fund investing involves risk. Principal loss is possible.

Shares of closed-end investment companies frequently trade at a discount to their net asset value, which may increase investors' risk of loss. This risk may be greater for investors expecting to sell their shares in a relatively short period after the completion of the public offering. There are risks associated with investment in the fund.

Investments in debt securities typically decline in value when interest rates rise. This risk is usually greater for longer-term debt securities. Investments in asset-backed and mortgage-backed securities include additional risks that investors should be aware of including credit risk, prepayment risk, possible illiquidity and default, as well as increased susceptibility to adverse economic developments. Past performance is no guarantee of future results. The fund may invest in foreign securities which involve greater volatility and political, economic and currency risks and differences in accounting methods. These risks are greater for investments in emerging markets. Investments in lower rated and non-rated securities present a great risk of loss to principal and interest than higher rated securities. Investment strategies may not achieve the desired results due to implementation lag, other timing factors, portfolio management decisions-making, economic or market conditions or other unanticipated factors. In addition, the Fund may invest in other asset classes and investments such as, among others, REITs, credit default swaps, short sales, derivatives and smaller companies which include additional risks. The DoubleLine Income Solutions Fund (the "Fund") is a diversified, closed-end management investment company.

This material may include statements that constitute "forward-looking statements" under the U.S. securities laws. Forward-looking statements include, among other things, projections, estimates, and information about possible or future results related to the Fund, market or regulatory developments. The views expressed herein are not guarantees of future performance or economic results and involve certain risks, uncertainties and assumptions that could cause actual outcomes and results to differ materially from the views expressed herein. The views expressed herein are subject to change at any time based upon economic, market, or other conditions and DoubleLine undertakes no obligation to update the views expressed herein. While we have gathered this information from sources believed to be reliable, DoubleLine cannot guarantee the accuracy of the information provided. Any discussions of specific securities should not be considered a recommendation to buy or sell those securities. The views expressed herein (including any forward-looking statement) may not be relied upon as investment advice or as an indication of the Fund's trading intent. Information included herein is not an indication of the Fund's future portfolio composition.

Distributions include all distribution payments regardless of source and may include net income, capital gains, and/or return of capital (ROC). ROC should not be confused with yield or income. A Fund's Section 19a-1 Notice, if applicable, contains additional distribution composition information and may be obtained by visiting www.doublelinefunds.com. Final determination of a distribution's tax character will be made on Form 1099 DIV and sent to shareholders. On a tax basis, as of Nov. 30, 2020, the most recent available figure, the estimated component of the cumulative distribution for the fiscal year to date would include an estimated return of capital of $0.015 (10%) per share. This amount is an estimate and the actual amounts and sources for tax reporting purposes may change upon final determination of tax characteristics and may be subject to changes based on tax regulations.

Any tax or legal information provided is merely a summary of our understanding and interpretation of some of the current income tax regulations and is not exhaustive. Investors must consult their tax advisor or legal counsel for advice and information concerning their particular situation. Neither the Fund nor any of its representatives may give legal or tax advice.

Quasar Distributors, LLC provides filing administration for DoubleLine Capital LP.

©2020 DoubleLine Capital LP.

 

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SOURCE DoubleLine

FAQ

What is the December 2020 distribution amount for DoubleLine Income Solutions Fund (DSL)?

The distribution amount for December 2020 is $0.11 per share.

Why was the distribution for December 2020 for DSL reduced?

The distribution was reduced by $0.04 from the previous month to better align it with the Fund's expected earnings.

When is the ex-dividend date for DSL in December 2020?

The ex-dividend date for December 2020 is December 16, 2020.

What is the record date for the December 2020 distribution for DSL?

The record date for the December 2020 distribution is December 17, 2020.

When will the payment for the December 2020 distribution of DSL be made?

The payment for the December 2020 distribution will be made on December 31, 2020.

What is the amount of the special year-end distribution for DSL?

The special year-end distribution amount is $0.012 per share.