{"id":383522,"date":"2020-11-17T17:23:25","date_gmt":"2020-11-17T22:23:25","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=383522"},"modified":"2020-11-17T17:23:25","modified_gmt":"2020-11-17T22:23:25","slug":"priority-income-fund-announces-11-14-annualized-cash-distribution-rate-on-class-r-offering-price-through-board-declarations-of-increased-quarterly-cash-bonus-common-shareholder-dis","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/priority-income-fund-announces-11-14-annualized-cash-distribution-rate-on-class-r-offering-price-through-board-declarations-of-increased-quarterly-cash-bonus-common-shareholder-dis\/","title":{"rendered":"Priority Income Fund Announces 11.14% Annualized Cash Distribution Rate (on Class R Offering Price) Through Board Declarations of Increased Quarterly Cash \u201cBonus\u201d Common Shareholder Distribution in Addition to Steady Monthly Cash \u201cBase\u201d Common Shareholder Distributions for December 2020 through February 2021"},"content":{"rendered":"
\n

NEW YORK, Nov. 17, 2020 (GLOBE NEWSWIRE) — Priority Income Fund, Inc. (“Priority Income Fund” or the “Fund”) announced today that the Fund\u2019s board of directors has declared additional steady monthly cash \u201cbase\u201d common shareholder distributions as well as an increased quarterly cash \u201cbonus\u201d common shareholder distribution.<\/p>\n

The annualized total cash distribution rate is 11.14% for distributions with record dates between December 4, 2020, and February 26, 2021, based on the current Class R offering price of $11.22 per common share.<\/p>\n

The cash \u201cbase\u201d distributions will have weekly record dates and will be payable monthly to common stockholders of record as of the close of business each week. These declared distributions equal a weekly cash amount of $0.02014 per share of common stock (representing $0.26182 per common share on a quarterly basis) as follows:<\/p>\n\n\n\n\n\n
\n Monthly <\/strong>
\n Cash \u201cBase\u201d Shareholder Distribution<\/strong>\n <\/td>\n		\n Record Date<\/strong>
\n s<\/strong>\n <\/td>\n		\n Payment Date<\/strong>\n <\/td>\n\n Total <\/strong>
\n Amount ($ per share)<\/strong>\n <\/td>\n<\/tr>\n
December 2020<\/td>\nDecember 4, 11, 18, and 28, 2020<\/td>\nDecember 29, 2020<\/td>\n$0.08056<\/td>\n<\/tr>\n
January 2021<\/td>\nJanuary 4, 8, 15, 22, and 29, 2021<\/td>\nFebruary 1, 2021<\/td>\n$0.10070<\/td>\n<\/tr>\n
February 2021<\/td>\nFebruary 5, 12, 19, and 26, 2021<\/td>\nMarch 1, 2021<\/td>\n$0.08056<\/td>\n<\/tr>\n<\/table>\n

These monthly cash \u201cbase\u201d common shareholder distributions represent the 84th<\/sup>, 85th<\/sup>, and 86th<\/sup> consecutive such monthly \u201cbase\u201d distributions paid by the Fund at a rate at least equal to this steady $0.02014 per share of common stock.<\/p>\n

The Fund’s board of directors has increased the quarterly cash \u201cbonus\u201d distribution as follows:<\/p>\n\n\n\n
\n Quarterly <\/strong>
\n Cash \u201cB<\/strong>
\n onus<\/strong>
\n \u201d Shareholder Distribution<\/strong>\n <\/td>\n		\n Record Date<\/strong>\n <\/td>\n\n Payment Date<\/strong>\n <\/td>\n\n Amount ($ per share)<\/strong>\n <\/td>\n<\/tr>\n
December 2020<\/td>\nDecember 28, 2020<\/td>\nDecember 29, 2020<\/td>\n$0.05000<\/td>\n<\/tr>\n<\/table>\n

This cash \u201cbonus\u201d distribution represents the 27th<\/sup> cash quarterly \u201cbonus\u201d common shareholder distribution that the Fund has declared.<\/p>\n

The Fund has paid or declared cumulative cash distributions totaling $10.31 per common share since inception in January 2014 through February 2021.<\/p>\n

\n About Priority Income Fund<\/strong>
\n
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.\u00a0\u00a0 For more information, visit\u00a0priorityincomefund.com<\/a>.<\/em><\/p>\n

\n About Prospect Capital Management L.P.<\/strong>
\n
Headquartered in New York City, Prospect is an SEC-registered investment adviser that, along with its predecessors and affiliates, has a more than 30-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 $5.9 billion of assets under management as of June 30, 2020. For more information, call 212.448.0702 or visit prospectcapitalmanagement.com.<\/p>\n

\n About Preferred Capital Securities, LLC<\/strong>\n <\/p>\n

Preferred Capital Securities, LLC serves as the dealer manager for Priority Income Fund, Inc. and has been a member of FINRA\/SIPC since 2015. Formed in 2013, PCS is a boutique investment banking firm that distributes real estate and credit investment products in private and public structures through broker dealers and registered investment advisors. The PCS has raised over $2.3 billion of capital as a wholesale distributor for various alternative investment strategies. For more information, visit\u00a0prefcapitalsecurities.com<\/a>.<\/p>\n

For Sales:
salesdesk@prefcapitalsecurities.com<\/a>
(855) 330-6594<\/p>\n

For Service:
investorservices@prefcapitalsecurities.com<\/a>
(855) 422-3223<\/p>\n

\n Additional Information<\/strong>
\n
\n Past performance is not indicative of future performance.<\/strong>\u00a0Our 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.<\/p>\n

\n 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 <\/strong>
\n your investment representative or Investor Services at 866.655.3650.<\/strong>\n <\/p>\n

\n
\n Forward-Looking Statements<\/em>
\n <\/strong>
\n
\n 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.<\/em>\n <\/p>\n


\n
\n \n <\/div>\n

<\/div>\n","protected":false},"excerpt":{"rendered":"

NEW YORK, Nov. 17, 2020 (GLOBE NEWSWIRE) — Priority Income Fund, Inc. (“Priority Income Fund” or the “Fund”) announced today that the Fund\u2019s board of directors has declared additional steady monthly cash \u201cbase\u201d common shareholder distributions as well as an increased quarterly cash \u201cbonus\u201d common shareholder distribution. The annualized total cash distribution rate is 11.14% for distributions with record dates between December 4, 2020, and February 26, 2021, based on the current Class R offering price of $11.22 per common share. The cash \u201cbase\u201d distributions will have weekly record dates and will be payable monthly to common stockholders of record as of the close of business each week. These declared distributions equal a weekly cash amount of $0.02014 per share … <\/p>\n

Continue reading “Priority Income Fund Announces 11.14% Annualized Cash Distribution Rate (on Class R Offering Price) Through Board Declarations of Increased Quarterly Cash \u201cBonus\u201d Common Shareholder Distribution in Addition to Steady Monthly Cash \u201cBase\u201d Common Shareholder Distributions for December 2020 through February 2021”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-383522","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nPriority Income Fund Announces 11.14% Annualized Cash Distribution Rate (on Class R Offering Price) Through Board Declarations of Increased Quarterly Cash \u201cBonus\u201d Common Shareholder Distribution in Addition to Steady Monthly Cash \u201cBase\u201d Common Shareholder Distributions for December 2020 through February 2021 - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/priority-income-fund-announces-11-14-annualized-cash-distribution-rate-on-class-r-offering-price-through-board-declarations-of-increased-quarterly-cash-bonus-common-shareholder-dis\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Priority Income Fund Announces 11.14% Annualized Cash Distribution Rate (on Class R Offering Price) Through Board Declarations of Increased Quarterly Cash \u201cBonus\u201d Common Shareholder Distribution in Addition to Steady Monthly Cash \u201cBase\u201d Common Shareholder Distributions for December 2020 through February 2021 - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"NEW YORK, Nov. 17, 2020 (GLOBE NEWSWIRE) — Priority Income Fund, Inc. (“Priority Income Fund” or the “Fund”) announced today that the Fund\u2019s board of directors has declared additional steady monthly cash \u201cbase\u201d common shareholder distributions as well as an increased quarterly cash \u201cbonus\u201d common shareholder distribution. The annualized total cash distribution rate is 11.14% for distributions with record dates between December 4, 2020, and February 26, 2021, based on the current Class R offering price of $11.22 per common share. The cash \u201cbase\u201d distributions will have weekly record dates and will be payable monthly to common stockholders of record as of the close of business each week. These declared distributions equal a weekly cash amount of $0.02014 per share … Continue reading "Priority Income Fund Announces 11.14% Annualized Cash Distribution Rate (on Class R Offering Price) Through Board Declarations of Increased Quarterly Cash \u201cBonus\u201d Common Shareholder Distribution in Addition to Steady Monthly Cash \u201cBase\u201d Common Shareholder Distributions for December 2020 through February 2021"\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/priority-income-fund-announces-11-14-annualized-cash-distribution-rate-on-class-r-offering-price-through-board-declarations-of-increased-quarterly-cash-bonus-common-shareholder-dis\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2020-11-17T22:23:25+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODA4ODAxMyMzODMyNDIxIzUwMDA0OTUwNA==\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/priority-income-fund-announces-11-14-annualized-cash-distribution-rate-on-class-r-offering-price-through-board-declarations-of-increased-quarterly-cash-bonus-common-shareholder-dis\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/priority-income-fund-announces-11-14-annualized-cash-distribution-rate-on-class-r-offering-price-through-board-declarations-of-increased-quarterly-cash-bonus-common-shareholder-dis\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Priority Income Fund Announces 11.14% Annualized Cash Distribution Rate (on Class R Offering Price) Through Board Declarations of Increased Quarterly Cash \u201cBonus\u201d Common Shareholder Distribution in Addition to Steady Monthly Cash \u201cBase\u201d Common Shareholder Distributions for December 2020 through February 2021\",\"datePublished\":\"2020-11-17T22:23:25+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/priority-income-fund-announces-11-14-annualized-cash-distribution-rate-on-class-r-offering-price-through-board-declarations-of-increased-quarterly-cash-bonus-common-shareholder-dis\\\/\"},\"wordCount\":900,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/priority-income-fund-announces-11-14-annualized-cash-distribution-rate-on-class-r-offering-price-through-board-declarations-of-increased-quarterly-cash-bonus-common-shareholder-dis\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.globenewswire.com\\\/newsroom\\\/ti?nf=ODA4ODAxMyMzODMyNDIxIzUwMDA0OTUwNA==\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/priority-income-fund-announces-11-14-annualized-cash-distribution-rate-on-class-r-offering-price-through-board-declarations-of-increased-quarterly-cash-bonus-common-shareholder-dis\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/priority-income-fund-announces-11-14-annualized-cash-distribution-rate-on-class-r-offering-price-through-board-declarations-of-increased-quarterly-cash-bonus-common-shareholder-dis\\\/\",\"name\":\"Priority Income Fund Announces 11.14% Annualized Cash Distribution Rate (on Class R Offering Price) Through Board Declarations of Increased Quarterly Cash \u201cBonus\u201d Common Shareholder Distribution in Addition to Steady Monthly Cash \u201cBase\u201d Common Shareholder Distributions for December 2020 through February 2021 - 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(“Priority Income Fund” or the “Fund”) announced today that the Fund\u2019s board of directors has declared additional steady monthly cash \u201cbase\u201d common shareholder distributions as well as an increased quarterly cash \u201cbonus\u201d common shareholder distribution. The annualized total cash distribution rate is 11.14% for distributions with record dates between December 4, 2020, and February 26, 2021, based on the current Class R offering price of $11.22 per common share. The cash \u201cbase\u201d distributions will have weekly record dates and will be payable monthly to common stockholders of record as of the close of business each week. These declared distributions equal a weekly cash amount of $0.02014 per share … Continue reading \"Priority Income Fund Announces 11.14% Annualized Cash Distribution Rate (on Class R Offering Price) Through Board Declarations of Increased Quarterly Cash \u201cBonus\u201d Common Shareholder Distribution in Addition to Steady Monthly Cash \u201cBase\u201d Common Shareholder Distributions for December 2020 through February 2021\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/priority-income-fund-announces-11-14-annualized-cash-distribution-rate-on-class-r-offering-price-through-board-declarations-of-increased-quarterly-cash-bonus-common-shareholder-dis\/","og_site_name":"Market Newsdesk","article_published_time":"2020-11-17T22:23:25+00:00","og_image":[{"url":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODA4ODAxMyMzODMyNDIxIzUwMDA0OTUwNA==","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/priority-income-fund-announces-11-14-annualized-cash-distribution-rate-on-class-r-offering-price-through-board-declarations-of-increased-quarterly-cash-bonus-common-shareholder-dis\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/priority-income-fund-announces-11-14-annualized-cash-distribution-rate-on-class-r-offering-price-through-board-declarations-of-increased-quarterly-cash-bonus-common-shareholder-dis\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Priority Income Fund Announces 11.14% Annualized Cash Distribution Rate (on Class R Offering Price) Through Board Declarations of Increased Quarterly Cash \u201cBonus\u201d Common Shareholder Distribution in Addition to Steady Monthly Cash \u201cBase\u201d Common Shareholder Distributions for December 2020 through February 2021","datePublished":"2020-11-17T22:23:25+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/priority-income-fund-announces-11-14-annualized-cash-distribution-rate-on-class-r-offering-price-through-board-declarations-of-increased-quarterly-cash-bonus-common-shareholder-dis\/"},"wordCount":900,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/priority-income-fund-announces-11-14-annualized-cash-distribution-rate-on-class-r-offering-price-through-board-declarations-of-increased-quarterly-cash-bonus-common-shareholder-dis\/#primaryimage"},"thumbnailUrl":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODA4ODAxMyMzODMyNDIxIzUwMDA0OTUwNA==","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/priority-income-fund-announces-11-14-annualized-cash-distribution-rate-on-class-r-offering-price-through-board-declarations-of-increased-quarterly-cash-bonus-common-shareholder-dis\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/priority-income-fund-announces-11-14-annualized-cash-distribution-rate-on-class-r-offering-price-through-board-declarations-of-increased-quarterly-cash-bonus-common-shareholder-dis\/","name":"Priority Income Fund Announces 11.14% Annualized Cash Distribution Rate (on Class R Offering Price) Through Board Declarations of Increased Quarterly Cash \u201cBonus\u201d Common Shareholder Distribution in Addition to Steady Monthly Cash \u201cBase\u201d Common Shareholder Distributions for December 2020 through February 2021 - 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