Priority Income Fund Declares Bonus Distribution
Priority Income Fund Inc., a closed-end fund co-sponsored by Behringer and Prospect Capital Management, has declared a bonus distribution of $0.11522 per share of common stock, which will be paid on December 29, 2015 to stockholders of record at the close of business on December 28, 2015.
“Once again, we are pleased to announce this bonus distribution as Priority Income Fund continues to fulfill its objective of providing income for our shareholders,” said Nishil Mehta, a principal of Prospect Capital Management L.P.
The bonus distribution is independent from monthly distributions, which are declared separately. The fund’s annualized distribution rate for Class R shares was 9.98 percent as of September 30, 2015.
Priority Income Fund is a registered investment program that was created to acquire an investment portfolio 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.
Headquartered in New York City, Prospect is an SEC-registered investment advisor 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. The company currently has more than $7.5 billion of capital under management (including undrawn credit facilities).
Behringer creates and manages real estate investments through public and private fund structures, joint ventures and separately managed accounts. The company also offers strategic advisory, asset management, tax-deferred exchange, and capital markets solutions. Investments sponsored and managed by the Behringer group of companies have invested into more than $11 billion in assets.
