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

Rhea-AI Summary

High Income Securities Fund (NYSE: PCF) announces three-monthly distributions under managed distribution plan. Monthly distributions to common stockholders at an annual rate of 10% for 2023. Next three distributions: July $0.0604, August $0.0604, September $0.0604.

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• High Income Securities Fund declares three-monthly distributions under managed distribution plan. Monthly distributions at 10% annual rate for 2023. Next three distributions: July $0.0604, August $0.0604, September $0.0604.

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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
July	$0.0604	July 20, 2023	July 31, 2023
August	$0.0604	August 22, 2023	August 31, 2023
September	$0.0604	September 20, 2023	September 29, 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/20230621389556/en/

U.S. Bank Global Fund Services – Shannon Coyle (414) 516-1693

Source: High Income Securities Fund, Inc.

FAQ

What is the annual rate of distributions for 2023?

The annual rate of distributions for 2023 is 10%.

What are the next three distributions?

The next three distributions are: July $0.0604, August $0.0604, September $0.0604.

What is the net asset value of the Fund's common shares as of December 31, 2022?

The net asset value of the Fund's common shares as of December 31, 2022 is $7.25.