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

Rhea-AI Summary

The High Income Securities Fund, Inc. (NYSE: PCF) has declared its next three monthly distributions under its managed distribution plan, which will disburse an annual rate of 10% (or $0.073 per month) based on a net asset value of $8.75 as of December 31, 2021. The specific distribution dates for October, November, and December 2022 have been set, with record dates on October 20, November 18, and December 20, respectively, and payable dates on October 31, November 30, and December 30.

Positive

• Monthly distributions at an annual rate of 10%
• Stable distribution rate of $0.073 for the next three months
• Clear communication of record and payable dates enhances transparency

Negative

• Future distributions may include return of capital if income is insufficient
• Potential for the Board to amend or terminate the distribution plan without notice

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 distributions 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 distributions declared under the managed distribution plan are as follows:

Month		Rate		Record Date		Payable Date
October		$0.073		October 20, 2022		October 31, 2022
November		$0.073		November 18, 2022		November 30, 2022
December		$0.073		December 20, 2022		December 30, 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/20221011005909/en/

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

Source: High Income Securities Fund, Inc.

FAQ

What is the upcoming distribution rate for PCF?

The upcoming distribution rate for High Income Securities Fund, Inc. (PCF) is $0.073 per month.

When will the next distributions for PCF be payable?

The next distributions for PCF will be payable on October 31, November 30, and December 30, 2022.

What is the annual distribution rate for PCF in 2022?

The annual distribution rate for PCF in 2022 is 10%, based on a net asset value of $8.75.

What are the record dates for PCF distributions?

The record dates for PCF distributions are October 20, November 18, and December 20, 2022.

Could the managed distribution plan for PCF change?

Yes, the Board may amend or terminate the managed distribution plan without prior notice to stockholders.