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

Rhea-AI Summary

High Income Securities Fund (NYSE: PCF) announces plans for monthly distributions totaling at least 10% annually, equating to $0.078 per share for April, May, and June 2021, based on a net asset value of $9.34 as of December 2020. Key dates for distribution include April 30, May 28, and June 30, 2021. The Fund notes that if sufficient investment income is unavailable, distributions may involve a return of capital. An estimate of the distribution composition will be provided to stockholders, with details reported on Form 1099-DIV for tax purposes.

Positive

• Monthly distributions set at an annual rate of 10%, offering $0.078 per share for April, May, and June.
• Commitment to provide regular income to shareholders, enhancing attractiveness as an income-generating investment.

Negative

• Potential return of capital in distributions if sufficient investment income is not available, which may indicate underlying income generation issues.

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 April, May, and June:

Month

Distribution

Record Date

Payable Date

April

$0.078

April 21, 2021

April 30, 2021

May

$0.078

May 19, 2021

May 28, 2021

June

$0.078

June 21, 2021

June 30, 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.

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FAQ

What is the monthly distribution rate for High Income Securities Fund (PCF) in 2021?

The Fund intends to distribute at least 10% annually, which amounts to $0.078 per share each month for April, May, and June 2021.

When are the payable dates for the upcoming distributions of PCF?

The payable dates for the distributions are April 30, May 28, and June 30, 2021.

What does it mean if High Income Securities Fund (PCF) includes a return of capital in distributions?

Including a return of capital in distributions indicates that the Fund may not have sufficient investment income to cover the full distribution amount.

How will High Income Securities Fund (PCF) report its distributions for tax purposes?

The actual composition of the total amount of distributions for each year will be reported on Form 1099-DIV issued after the end of the year.