NEW YORK, Jan. 11, 2016 /PRNewswire/ -- Priority Income Fund, Inc. ("Priority" or the "Fund") announced today that it has declared a series of cash distributions to its shareholders for the first calendar quarter of 2016. The declared distributions equal a weekly amount of $0.02068 per share of common stock. Distributions have weekly record dates and are payable monthly to the shareholders of record as set forth below:
- Distributions for the January 4, 8, 15, 22, and 29 record dates will be paid on or around February 1, 2016.
- Distributions for the February 5, 12, 19 and 26 record dates will be paid on or around February 29, 2016.
- Distributions for the March 4, 11, 18 and 28 record dates will be paid on or around March 31, 2016.
"We are very pleased to announce that for the ninth consecutive quarter, Priority Income Fund has provided shareholders with an attractive current income in these market conditions," said Nishil Mehta,a principal of Prospect Capital Management LLC. "Furthermore, the Fund's annualized distribution rate for Class R shares was 9.77 percent based on a $15.36 offering price as of December 31, 2015."
About Priority Income Fund
Priority Income Fund, Inc. is a registered investment program cosponsored by Prospect Capital Management LLC (Prospect) and Behringer Harvard Holdings, LLC (Behringer). Priority Income Fund 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 floating interest rates and include a first lien on the assets of the respective borrowers, which typically are private and public companies based in the United States. For more information, visit priority-incomefund.com.
About Prospect Capital Management LLC
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 currently has more than $7.5 billion of capital under management (including undrawn credit facilities). For more information, call 212.448.0702 or visit prospectcapitalmanagement.com.
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.
SOURCE Priority Income Fund