High Income Securities Fund Announces Monthly Distributions For First Quarter of 2022

Rhea-AI Summary

High Income Securities Fund (NYSE: PCF) has declared the next three monthly dividends under its managed distribution plan. The Fund aims to distribute an annual rate of 10% based on a net asset value of $8.75 as of December 31, 2021. Dividends of $0.073 are payable in January, February, and March 2022, with respective record dates of January 20, February 17, and March 22. The Board may amend or terminate the plan without prior notice, potentially affecting the market price of the Fund's shares.

Positive

• Declaring dividends of $0.073 for January, February, and March 2022 reflects a stable managed distribution plan.
• Annual distribution rate set at 10% showcases commitment to returning value to shareholders.

Negative

• The Board may amend or terminate the distribution plan without notice, which could negatively impact share prices.

NEW YORK--(BUSINESS WIRE)-- High Income Securities Fund, Inc. (NYSE: PCF) (the “Fund”) today announced that the Fund’s Board of Trustees (the “Board”) has declared the next three-monthly dividends under the Fund’s managed distribution plan.

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

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

			Month		Distribution		Record Date		Payable 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 Fund’s net investment income and net realized capital gains exceed the aggregate amount distributed pursuant to the managed distribution plan, the Fund may make an additional year-end distribution. No conclusions should be drawn about the Fund’s investment performance from the amount of the distributions. The Board may amend the terms of the managed distribution plan or terminate the plan at any time without prior notice to stockholders which could have an adverse effect on the market price of the Fund’s common shares. The plan will be subject to periodic review by the Board, including a yearly review of the annual fixed rate to determine if an adjustment should be made.

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/20220106005631/en/

U.S. Bank Global Fund Services – John Buckel (414) 765-4255

Source: High Income Securities Fund

FAQ

What is the annual distribution rate for High Income Securities Fund (PCF) in 2022?

The annual distribution rate for High Income Securities Fund (PCF) in 2022 is set at 10%.

When are the dividends payable for High Income Securities Fund (PCF)?

Dividends for High Income Securities Fund (PCF) are payable on January 31, February 28, and March 31, 2022.

What are the record dates for the upcoming dividends of PCF?

The record dates for the upcoming dividends of PCF are January 20, February 17, and March 22, 2022.