Priority Income Fund Announces 11.6% Annualized Total Cash Distribution Rate (on Class R Offering Price) with New “Bonus” and “Base” Common Shareholder Distributions for June through August 2024

June 7, 2024

Priority Income Fund Announces 11.6% Annualized Total Cash Distribution Rate (on Class R Offering Price) with New “Bonus” and “Base” Common Shareholder Distributions for June through August 2024



NEWYORK,  June 7, 2024 /Business Wire/ -- Priority Income Fund, Inc. (“Priority Income Fund” or the “Fund”) announced today that the Fund’s Board of Directors has declared monthly cash “base” and “bonus” common shareholder distributions for June 2024, July 2024 and August 2024.

The annualized total cash distribution is$1.34016 per share (11.6% annualized rate for Class R and 12.4% annualized rate for Class I), for distributions with record dates between June5, 2024 and August 5, 2024 based on the current Class R offering price of $11.55 per common share and the current Class I offering price of $10.77 per common share.

The cash “base” distribution will have monthly record dates and will be payable monthly to common stockholders of record at the close of business each month. These declared distributions equal a weekly cash amount of $0.02014 per share of common stock (or $0.26182 on a quarterly basis) as follows:


Monthly  Cash “Base”

Shareholder Distribution              Record Date                    Payment Date                          Total Amount ($ per share)

June 2024                                   June 5, 2024                June 24, 2024                      $0.08056

July 2024                                    July 3, 2024                 July 29, 2024                        $0.08056

August 2024                               August 5, 2024            August 26, 2024                   $0.10070


 These distributions represent the 126th,127th and 128th consecutive monthly “base” distributions paid by the Fund.

 The Fund's Board of Directors has also declared new monthly cash “bonus” distributions, as follows:


Quarterly Cash “Bonus”

Shareholder  Distribution             Record Date                    Payment Date                            Amount ($ per share)

June 2024                                    June 5, 2024                June 24, 2024                       $0.024167

July 2024                                     July 3, 2024                  July 29, 2024                        $0.024167

August 2024                                August 5, 2024             August 26, 2024                   $0.024167


The June, July and August cash “bonus” distributions represents the 45th, 46th, and 47th“bonus” distributions that the Fund has declared, which are now paid monthly starting January 2024.

The Fund has paid or declared cumulative cash distributions totaling $15.05 per common share since inception in January 2014 through August 2024.


The Fund announced an update today to its previously announced declaration of distributions on shares of the Fund’s 7.00% Series D Term Preferred Stock due 2029 (“Series D”), 6.625%Series F Term Preferred Stock due 2027 (“Series F”), 6.250% Series G Term Preferred Stock due 2026 (“Series G”), 6.000% Series H Term Preferred Stock due2026 (“Series H”), 6.125% Series I Term Preferred Stock due 2028 (“Series I”),6.000% Series J Term Preferred Stock due 2028 (“Series J”), 7.000% Series K Cumulative Preferred Stock (“Series K”), and 6.375% Series L Term Preferred Stock due 2029 (“Series L”) to correct the Ex-Dividend Date.


                                                    Ex-Dividend Date             Record Date                       Payable Date                   Distribution per Share

Series D                                       June 21, 2024                 June 21, 2024                 June 28, 2024              $0.43750                 

Series F                                        June 21, 2024                 June 21, 2024                 June 28, 2024              $0.41406

Series G                                       June 21, 2024                 June 21, 2024                 June 28, 2024              $0.39063

Series H                                       June 21, 2024                 June 21, 2024                 June 28, 2024              $0.37500

Series I                                         June 21, 2024                 June 21, 2024                 June 28, 2024              $0.38281

Series J                                        June 21, 2024                 June 21, 2024                 June 28, 2024              $0.37500

Series K                                        June 21, 2024                June 21, 2024                  June 28, 2024              $0.43750

Series L                                        June 21, 2024                 June 21, 2024                 June 28, 2024              $0.39844


Distributions shall first be treated as a distribution of taxable investment company income undistributed from the prior year, and then treated as a distribution of taxable investment company income for the current year. This treatment will not affect tax reporting to shareholders.


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

About Prospect Capital Management L.P.
Prospect Capital Management L.P.(“Prospect”), headquartered in New York City, is an SEC-registered investmentadviser that, along with its predecessors and affiliates, has more than 30-yearsof investing in and managing high-yielding debt and equity investments usingboth private partnerships and publicly traded closed-end structures. Prospectand its affiliates employ a team of over 100 professionals who focus oncredit-oriented investments yielding attractive current income. Prospect,together with its affiliates, has $8.9 billion of assets under management as of March 31, 2024. For more information, call (212) 448-0702 or visit

About Preferred Capital Securities, LLC
Preferred Capital Securities, LLC (“PCS”) 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 managing broker-dealer that distributes alternative investments, including real estate and credit investment products in private and public structures through broker dealers and registered investment advisors. PCS has raised over$4.8 billion of capital as a wholesale distributor for various alternative investment strategies. For more information, call

855-320-1414 or visit


For Sales:    (855) 330-6594


For Service:   (855) 422-3223


Additional Information

Past performance is not indicative of future performance.
 Our distributions may exceed ourearnings, and therefore, portions of the distributions that we make may be areturn of the money that you originally invested and represent a return ofcapital to you for tax purposes. Such a return of capital is not immediatelytaxable, but reduces your tax basis in our shares, which may result in highertaxes for you even if your shares are sold at a price below your originalinvestment.

Investors should consider the investmentobjective and policies, risk considerations, charges and ongoing expenses of aninvestment carefully before investing. The prospectus and summary prospectuscontains this and other information relevant to an investment in the fund.Please read the prospectus or summary prospectus carefully before you invest orsend money. To obtain a prospectus, please contact your investmentrepresentative or Investor Services at 866.655.3650.

Forward-Looking Statements
Thispress release may contain certain forward-looking statements within the meaningof the Private Securities Litigation Reform Act of 1995, including statementsregarding the future performance of Priority Income Fund, Inc. Words such as"believes," "expects," "projects," and"future" or similar expressions are intended to identifyforward-looking statements. Any such statements, other than statements ofhistorical fact, are highly likely to be affected by unknowable future eventsand conditions, including elements of the future that are or are not under thecontrol of Priority Income Fund, Inc. and that Priority Income Fund, Inc. mayor may not have considered; accordingly, such statements cannot be guaranteesor assurances of any aspect of future performance. Actual developments andresults are highly likely to vary materially from any forward-lookingstatements. Such statements speak only as of the time when made, and PriorityIncome Fund, Inc. undertakes no obligation to publicly update or revise anyforward-looking statements, whether as a result of new information, futureevents or otherwise.



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