Priority Income Fund Celebrates Decade Milestone with 11.3% Annualized Distributions

On the occasion of its tenth anniversary, Priority Income Fund, Inc. ("Priority Income Fund" or the "Fund") is proud to announce a significant declaration by the Fund's Board of Directors. As a testament to its decade-long journey and performance, the Fund has revealed a monthly cash distribution strategy comprising "base" and "bonus" common shareholder distributions. This approach is expected to yield an annualized total cash distribution rate of 11.3% based on the Class R offering price, commencing from March through May 2024. This move is indicative of the Fund's robust financial standing and its commitment to rewarding its investors for their continued trust and support over the years. The Fund has not only achieved a milestone in terms of longevity but also demonstrated sustained potential to offer lucrative returns to its shareholders.

Understanding the Distribution Framework

The newly announced distribution policy by Priority Income Fund is split between 'base' distributions—regular, ongoing payouts to investors—and 'bonus' distributions, which are additional payments reflecting the Fund's performance over its ten-year tenure. This dual-structure distribution is aimed at providing a predictable income stream while also sharing the success of the Fund with its investors. It is a clear reflection of the Fund's confidence in its portfolio and management strategy, even as it ventures into its next decade of operation.

Looking at the Fund's Decade-Long Journey

Since its inception, the Priority Income Fund has focused on providing investors with high levels of current income and, as a secondary objective, capital appreciation. The Fund has utilized a strategy centered around diversified investments in a broad array of credit sectors and markets. As the Fund celebrates this 10-year milestone, the new distribution announcements underscore its ongoing dedication to optimizing shareholder value while managing risk factors diligently.

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