High Income Securities Fund Announces Monthly Distributions For First Quarter of 2023

Rhea-AI Summary

The High Income Securities Fund (NYSE: PCF) announced its quarterly distributions under its managed distribution plan, maintaining an annual rate of 10% based on a net asset value of $7.25 as of December 31, 2022.

Monthly distributions are set at $0.0604 for January, February, and March 2023. If investment income lacks, the Fund may distribute capital gains or return of capital. The Board can amend or terminate the distribution plan at any time, potentially affecting common shares' market price.

Positive

• Continued monthly distributions at an annual rate of 10%.
• Set distribution amount of $0.0604 for each month in Q1 2023.

Negative

• Potential for the distribution plan to be amended or terminated, impacting market price.
• Distributions may come from long-term capital gains or return of capital if investment income is insufficient.

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 2023, based on the net asset value of $7.25 of the Fund’s common shares as of December 31, 2022.

The next three distributions declared under the managed distribution plan are as follows:

Month	Rate	Record Date	Payable Date
January	$0.0604	January 20, 2023	January 31, 2023
February	$0.0604	February 16, 2023	February 28, 2023
March	$0.0604	March 22, 2023	March 31, 2023

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/20230104005700/en/

U.S. Bank Global Fund Services – John Buckel (414) 516-1514

Source: High Income Securities Fund, Inc.

FAQ

What is the distribution rate for High Income Securities Fund (PCF) in 2023?

The Fund has declared a distribution rate of 10% for 2023.

When are the distribution payments scheduled for PCF?

Distribution payments are scheduled for January 31, February 28, and March 31, 2023.

What is the impact of the managed distribution plan on PCF's shareholders?

The plan may affect market price and distributions can include capital gains or return of capital.

What amount will be distributed each month for PCF in Q1 2023?

The monthly distribution amount is set at $0.0604 for January, February, and March 2023.

How does the High Income Securities Fund determine its distributions?

Distributions are based on net asset value and can include long-term capital gains if income is insufficient.