High Income Securities Fund Announces Monthly Distributions For Second Quarter of 2022
High Income Securities Fund (NYSE: PCF) announced its next three monthly distributions under its managed distribution plan, maintaining an annual distribution rate of 10%, equivalent to 0.8333% monthly. Distributions for April, May, and June 2022 are set at $0.073 per share. The record and payable dates for these distributions are respectively April 20/29, May 19/31, and June 21/30, 2022. The Fund may distribute capital gains and return of capital if net investment income is insufficient. The Board retains the right to amend or terminate the plan without notice, which could impact the share price.
- Monthly distributions at a stable annual rate of 10%.
- Consistent monthly distribution amount of $0.073 per share.
- The Board can amend or terminate the managed distribution plan without prior notice, potentially affecting share price.
- Possibility of using capital gains or return of capital if investment income is insufficient, suggesting reliance on external factors.
Under the Fund’s managed distribution plan, the Fund intends to make monthly distributions to common stockholders at an annual rate of
The next three distributions declared under the managed distribution plan are as follows:
Month |
Distribution |
Record Date |
Payable Date |
||||||||||
April |
$ |
0.073 |
|
|
|||||||||
May |
$ |
0.073 |
|
|
|||||||||
June |
$ |
0.073 |
|
|
|||||||||
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/20220405005908/en/
Source:
FAQ
What are the upcoming distributions for High Income Securities Fund (PCF) in 2022?
What is the annual distribution rate for High Income Securities Fund (PCF)?
When are the record and payable dates for the upcoming distributions of PCF?
Can the managed distribution plan for PCF be changed?
What happens if PCF's investment income is not sufficient for distributions?
