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

Rhea-AI Summary

High Income Securities Fund (NYSE: PCF) has announced its next three monthly distributions under its managed distribution plan, maintaining an annual distribution rate of 10% based on a net asset value of $8.75 as of December 31, 2021. The distributions will be $0.073 for July, August, and September 2022, payable at the end of each month. The plan may involve distributions of long-term capital gains and return of capital if investment income is insufficient, and may be amended or terminated without prior notice, which could impact market prices.

Positive

• Monthly distributions remain consistent at $0.073 for July, August, and September 2022.
• Annual distribution rate of 10% based on net asset value of $8.75 suggests stability.

Negative

• Distributions may rely on long-term capital gains or return of capital, indicating potential income shortfalls.
• Managed distribution plan can be amended or terminated at the Board's discretion, posing risks to stockholders.

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
July	$0.073	July 20, 2022	July 29, 2022
August	$0.073	August 22, 2022	August 31, 2022
September	$0.073	September 21, 2022	September 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/20220706005607/en/

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

Source: High Income Securities Fund, Inc.

FAQ

What are the monthly distributions for High Income Securities Fund (PCF) announced in 2022?

The Fund announced monthly distributions of $0.073 for July, August, and September 2022.

What is the annual distribution rate for High Income Securities Fund (PCF) in 2022?

The annual distribution rate for the Fund is 10%, based on a net asset value of $8.75.

When are the payable dates for the distributions of PCF?

The payable dates are July 29, August 31, and September 30, 2022.

Can the managed distribution plan for PCF be changed?

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