Sierra Income Corporation’s board of directors has declared a series of semi-monthly distributions for October, November, and December of this year. In the fourth quarter, Stockholders will receive $0.03333 per share on 6 payment dates beginning October 31, 2014 and ending December 31, 2014.
Each distribution date has a corresponding date to establish stockholders of record. See below for details:
|Amount Per Share||Record Date||Distribution Date|
|$0.03333||October 15, 2014||October 31, 2014|
|$0.03333||October 31, 2014||October 31, 2014|
|$0.03333||November 14, 2014||November 28, 2014|
|$0.03333||November 28, 2014||November 28, 2014|
|$0.03333||December 15, 2014||December 31, 2014|
|$0.03333||December 31, 2014||December 31, 2014|
As a non-traded BDC, Sierra Income Corporation invests in first lien senior secured debt, second lien secured debt and, to a lesser extent, subordinated debt of middle market companies in a broad range of industries.
The BDC is sponsored by Medley LLC, a company that invests in middle market companies with $50 million to $1 billion in revenues through direct private lending and corporate credit investment strategies.
Sierra Income Corporation is distributed by SC Distributors, which is owned by RCS Capital Corporation (RCAP). Coincidentally, a senior secured second lien loan of $1.8 million was made to RCAP by the BDC at a rate of 10.25% maturing in April of 2021.