NEW YORK–(BUSINESS WIRE)–Priority Income Fund, Inc. (“Priority Income Fund” or the “Fund”)
announced today its weekly cash shareholder base distributions at an
annualized rate of 8.0% for distributions from June 3, 2019 through
August 30, 2019. These series of distributions will have weekly record
dates and will be payable monthly to the stockholders of record as of
the close of business each week. The declared distributions equal a
weekly amount of $0.02330 per share of common stock.
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Distributions for the June 7, 14, 21, and 28 record dates will be paid
on or around July 1, 2019. -
Distributions for the July 5, 12, 19, and 26 record dates will be paid
on or around July 29, 2019. -
Distributions for the August 2, 9, 16, 23, and 30 record dates will be
paid on or around September 3, 2019.
The Fund’s board of directors also declared a bonus distribution
of $0.07127 per share of common stock. This was the 22nd bonus
distribution that the Fund has declared and will be paid on July 1, 2019
to stockholders of record at the close of business on June 28, 2019.
The Fund’s total annualized distribution rate in the trailing twelve
months was 10.1% as of May 31, 2019.
About Priority Income Fund
Priority Income Fund, Inc. is a registered closed-end fund that was
created to acquire and grow an investment portfolio primarily consisting
of senior secured loans or pools of senior secured loans known as
collateralized loan obligations (“CLOs”). Such loans will generally have
a floating interest rate and include a first lien on the assets of the
respective borrowers, which typically are private and public companies
based in the United States. The Fund is managed by Priority Senior
Secured Income Management, LLC, which is led by a team of investment
professionals from the investment and operations team of Prospect
Capital Management L.P. For more information, visit priority-incomefund.com.
About Prospect Capital Management L.P.
Headquartered in New York City, Prospect is an SEC-registered investment
adviser that, along with its predecessors and affiliates, has a more
than 25-year history of investing in and managing high-yielding debt and
equity investments using both private partnerships and publicly traded
closed-end structures. Prospect and its affiliates employ a team of
approximately 100 professionals who focus on credit-oriented investments
yielding attractive current income. Prospect, together with its
affiliates, has $6.3 billion of assets under management as of March 31,
2019. For more information, call 212.448.0702 or visit
prospectcapitalmanagement.com.
About Destra Capital
Destra Capital connects financial advisors and their clients with
innovative investment strategies, in uniquely positioned products from
experienced asset managers. Destra takes the long view, setting goals to
rise above fleeting market statistics toward the opportunity for
long-term returns. Destra Capital Investments LLC is a member FINRA/SIPC.
Additional Information
Past performance is not indicative of future performance. Our
distributions may exceed our earnings, and therefore, portions of the
distributions that we make may be a return of the money that you
originally invested and represent a return of capital to you for tax
purposes. Such a return of capital is not immediately taxable, but
reduces your tax basis in our shares, which may result in higher taxes
for you even if your shares are sold at a price below your original
investment.
Investors should consider the investment objective and policies, risk
considerations, charges and ongoing expenses of an investment carefully
before investing. The prospectus and summary prospectus contains this
and other information relevant to an investment in the fund. Please read
the prospectus or summary prospectus carefully before you invest or send
money. To obtain a prospectus, please contact your investment
representative or Destra Capital Investments LLC at 877.855.3434.
Forward-Looking Statements
This press release may contain certain forward-looking statements
within the meaning of the Private Securities Litigation Reform Act of
1995, including statements regarding the future performance of Priority
Income Fund, Inc. Words such as “believes,” “expects,” “projects,” and
“future” or similar expressions are intended to identify forward-looking
statements. Any such statements, other than statements of historical
fact, are highly likely to be affected by unknowable future events and
conditions, including elements of the future that are or are not under
the control of Priority Income Fund, Inc. and that Priority Income Fund,
Inc. may or may not have considered; accordingly, such statements cannot
be guarantees or assurances of any aspect of future performance. Actual
developments and results are highly likely to vary materially from any
forward-looking statements. Such statements speak only as of the time
when made, and Priority Income Fund, Inc. undertakes no obligation to
publicly update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise.
Contacts
Rob Watson
For Priority Income Fund, Inc.
[email protected]
877.855.3434
