Priority Income Fund Announces 11.1% Annualized Cash Distribution Rate (on Class R Offering Price) Through Board Declarations of Increased Quarterly Cash “Bonus” Common Shareholder Distribution

December 7, 2022

NEW YORK,  December 7, 2022/BusinessWire/ -- Priority Income Fund, Inc. ("Priority Income Fund" or the "Fund") announced today that the Fund’s board of directors has declared additional steady monthly cash “base” common shareholder distributions as well as an increased quarterly cash “bonus” common shareholder distribution.

The annualized total cash distribution is $1.34016 per share (11.1%annualized rate), representing the 10th consecutive quarterly increase, for distributions with record dates between December 2, 2022, and February 24, 2023, based on the current Class R offering price of $12.13 per common share.

The cash “base” 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:

Monthly Cash  “Base” Shareholder Distribution          Record Dates                                   Payment Date                   Total Amount  ($ per share)

December 2022                                                              December 2, 9,  16, 23 and 30, 2022             January 3, 2023                                      $0.10070

January 2023                                                                    January 6, 13,  20, and 27, 2023                  January 30,  2023                                    $0.08056

February 2023                                                                     February 3,  10, 17, and 24, 2023               February 27,  2023                                   $0.08056


These monthly cash “base” common shareholder distributions represent the 108 consecutive such monthly “base” distributions paid by the Fund at a rate at least equal to this steady weekly distribution o f$0.02014 per share of common stock.


The Fund's board of directors has increased the quarterly cash “bonus” distribution as follows:

Quarterly Cash  “Bonus” Shareholder Distribution             Record Date                         Payment Date              Amount ($ per  share)

December 2022                                                                            December 30,  2022                      January 3, 2023                        $0.072500

This cash “bonus” distribution represents the 35 cash quarterly “Bolder distribution that the Fund has declared.

The Fund has paid or declared cumulative cash distributions totaling $ 12.9 per common on share since inception in January 2014 through February 2023.

The Fund is also pleased to announce the 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”).


                               Ex-Dividend Date                                                 Record Date                                     Payable Date                        Distribution per Share

Series D             December  16, 2022                                          December  19, 2022                              December 30, 2022                      $0.43750

Series F              December  16, 2022                                          December  19, 2022                              December 30, 2022                        $0.41406

Series G              December  16, 2022                                          December  19, 2022                               December 30, 2022                      $0.39063

Series H               December  16, 2022                                          December  19, 2022                               December 30, 2022                       $0.37500

Series I                  December  16, 2022                                         December  19, 2022                               December 30, 2022                        $0.38281

Series J                  December  16, 2022                                         December  19, 2022                               December 30, 2022                         $0.37500

Series K                 December  16, 2022                                          December  19, 2022                              December 30, 2022                        $0.43750

Series L                  December  16, 2022                                         December  19, 2022                              December 30, 2022                          $0.39844


Distributions shall first be treated as distributions of previously undistributed prior year investment company taxable income and then as distributions of current year investment company taxable income but will not affect tax report into 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 collateralize 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.
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 approximatel100 professionals who focus on credit-oriented investments yielding attractive current income. Prospect, together with its affiliates, has $8.6 billion of assets under management as of September 30, 2022. For more information, call 212.448.0702 or visit

About Preferred Capital Securities, LLC

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. PCS has raised over $ 3.6 billion of capital as a wholesale distributor for various alternative investment strategies.  For more information, visit

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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 are turn 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 on going 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 Investor Services at 866.655.3650.

Forward-Looking Statements
This press release may contain certain forward-looking statements within the meaning of the Private Securities Litigation Reform Actof 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 or 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 bligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.



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