Priority Income Fund Declares Distributions for January through March 2015

 

NEW YORK (January 6, 2015) – Priority Income Fund, Inc. (Priority) announced today that it has declared a series of cash distributions to its shareholders for the first calendar quarter of  2015.  The  declared  distributions  equal  a  weekly  amount  of  $0.02014  per  share  of common stock. Distributions have weekly record dates and are payable monthly to the stockholders of record as set forth below:

  • Distributions for the January 2, 9, 16, 23, and 30 record dates will be paid on or around February 2, 2015.
  • Distributions for the February 6, 13, 20, and 27 record dates will be paid on or around March 2, 2015.
  • Distributions  for the March 6, 13, 20, and 27 record dates will be paid on or around March 30, 2015.

“With this announcement,  the Priority Income Fund will enter its fifth straight quarter of meeting its primary objective of providing shareholders with current income, in addition to delivering an annualized distribution of 9.06% for calendar year 2014,” said Robert J. Klein, a managing director of Prospect Capital Management LLC.

About Priority Income Fund

Priority Income Fund, Inc., formerly known as Priority Senior Secured 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 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. For more information, visit priority-incomefund.com.

About Prospect Capital Management LLC

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. Prospect and its affiliates employ a team of approximately   100   professionals   who   focus   on   credit-oriented   investments   yielding attractive current income. Prospect currently has approximately $7.2 billion of capital under management (including undrawn credit facilities). For more information, call 212.448.0702 or visit prospectcapitalmanagement.com.

About Behringer Harvard Holdings, LLC

Behringer  creates,  manages  and  distributes  specialized  investments  through  a  multi- manager approach that presents unique options for allocating capital, managing risk and diversifying  assets.  Investments  sponsored  and  managed  by  the  Behringer  group  of companies  have invested into more than $11 billion in assets. For more information,  call toll-free 866.655.3600 or visit behringerinvestments.com.

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Forward-Looking Statements

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.

 

Kellie Richter

Behringer for Priority Income Fund, Inc.

krichter@behringermail.com

214.655.1600

 

David Nesmith

Richards Partners for Priority Income Fund, Inc.

david_nesmith@richards.com

214.891.2864

 

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