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

Rhea-AI Summary

High Income Securities Fund (NYSE: PCF) announced its upcoming three-monthly 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. The detailed distributions are:

• April: $0.0604, record date April 19, 2023, payable date April 28, 2023
• May: $0.0604, record date May 19, 2023, payable date May 31, 2023
• June: $0.0604, record date June 21, 2023, payable date June 30, 2023

The board may amend or terminate this plan without notice, affecting market price.

Positive

• Continued monthly distributions maintained at an annual rate of 10%.
• Distributions based on a solid net asset value of $7.25 as of December 31, 2022.

Negative

• The board may amend or terminate the managed distribution plan at any time, potentially impacting market price.
• Distributions may include 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
April			$0.0604			April 19, 2023			April 28, 2023
May			$0.0604			May 19, 2023			May 31, 2023
June			$0.0604			June 21, 2023			June 30, 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/20230327005548/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 distribution rate is set at 10% annually, equating to 0.8333% monthly.

When are the upcoming distribution dates for High Income Securities Fund (PCF)?

The record and payable dates are: April 19/28, May 19/31, and June 21/30, 2023.

What can affect the distribution plan for High Income Securities Fund (PCF)?

The board may amend or terminate the plan without notice, which could adversely affect market prices.

How are distributions for High Income Securities Fund (PCF) determined?

Distributions are based on the fund's investment income, long-term capital gains, and return of capital.

What is the current net asset value of High Income Securities Fund (PCF)?

The net asset value is currently $7.25 as of December 31, 2022.