High Income Securities Fund Announces Monthly Distributions For First Quarter of 2021

Rhea-AI Summary

High Income Securities Fund (NYSE: PCF) plans to make monthly distributions with an annual rate of at least 10%, equivalent to 0.8333% per month, based on a net asset value of $9.34 as of December 31, 2020. The distributions for the first three months of 2021 will be $0.078 per share for January, February, and March. The record dates for these distributions are January 20, February 17, and March 22, with payable dates on January 29, February 26, and March 31, respectively. If investment income is insufficient, distributions may include a return of capital.

Positive

• Monthly distributions set at an annual rate of at least 10%.
• Stable distribution of $0.078 per share for the first three months of 2021.

Negative

• Distributions may include return of capital if investment income is insufficient.

As previously announced, High Income Securities Fund, Inc. (NYSE: PCF) (the “Fund”) intends to make monthly distributions at an annual rate of at least 10% per annum (or 0.8333% per month). The distributions for 2021 are based on the net asset value of $9.34 of the Fund’s common shares as of the last business day of 2020.

The monthly distribution schedule is as follows for the months of January, February, and March:

Month		Distribution		Record Date		Payable Date
January		$0.078		January 20, 2021		January 29, 2021
February		$0.078		February 17, 2021		February 26, 2021
March		$0.078		March 22, 2021		March 31, 2021

To the extent that sufficient investment income is not available on a monthly basis, the distributions may include return of capital. No conclusions should be drawn about the Fund’s investment performance from the amount of the distributions.

The Fund will issue a notice to stockholders that 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210105005887/en/

FAQ

What is the distribution rate for High Income Securities Fund in 2021?

The High Income Securities Fund intends to distribute at least 10% annually, or 0.8333% monthly.

When are the record and payable dates for the January distribution for PCF?

The record date for January is January 20, 2021, and the payable date is January 29, 2021.

What will be the distribution amounts for February and March 2021 for PCF?

The distribution amount for February and March 2021 is $0.078 per share.

What could affect the distributions of High Income Securities Fund?

If sufficient investment income is not available, the distributions may include a return of capital.

How is the composition of distributions reported for High Income Securities Fund?

The Fund will notify stockholders of the estimated composition of each distribution, reported on Form 1099-DIV after the year-end.