NEW YORK, September 8, 2022 /PRNewswire/ — Prospect Sustainable Income Fund, Inc. (“PSIF”, “Fund”, “we”, “us” or “our”) recently announced its financial results for the fourth fiscal quarter ended June 30, 2022.
The Fund announced its net asset value (“NAV”) per share is $7.03 as of June 30, 2022.
The Fund also declared monthly cash distributions to stockholders for September 2022 and October 2022 representing an annualized distribution rate of 7.00% based on the June 30, 2022 NAV per share.
The declared distributions have monthly record dates and are payable monthly to the stockholders of record as of the close of each record date in September 2022 and October 2022. Such distributions equal a weekly amount of $0.00944 per share of common stock (representing $0.12272 per common share on a quarterly basis) as follows:
| Monthly Cash Shareholder Distribution | Record Dates | Payment Date on or about | Monthly Total Amount ($ per share) |
| September 2022 | September 30, 2022 | October 7, 2022 | $ 0.04720 |
| October 2022 | October 28, 2022 | November 4, 2022 | $ 0.03776 |
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 reporting to shareholders.
For additional information, see the Fund’s annual report on Form 10-K available at www.prospectsustainablebdc.com.
About Prospect Sustainable Income Fund, Inc.
PSIF is a publicly registered, non-traded business development company. PSIF invests primarily in senior and secured credit of privately owned U.S. middle market companies. PSIF’s objective is to generate current income and, as a secondary objective, capital appreciation, by targeting investment opportunities with favorable risk-adjusted returns. For the trailing twelve months ended June 30, 2022, PSIF’s distributions were composed of approximately 73% from cash flows from its investments and operations, 27% was a return of capital, and 0% from borrowings.
About Prospect
PSIF is managed by Prospect Capital Management L.P. (“PCM”). PCM 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. PCM and its affiliates employ a team of approximately 100 professionals who focus on credit-oriented investments yielding attractive current income. PCM has $8.6 billion of assets under management as of June 30, 2022.
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 investors originally invested and represent a return of capital to investors for tax purposes. Such a return of capital is not immediately taxable, but reduces investor tax basis in PSIF shares, which may result in higher taxes for investors even if shares are sold at a price below original investment. Distributions are not guaranteed and may be modified at our discretion. Since a portion of our distributions may include or represent a return of capital, we may have less money to invest, which could lower our overall return.
This information is not, and should not be deemed to construe, an offer to sell or a solicitation of an offer to purchase any security. Offers will only be made through a qualified prospectus to suitable investors and where permitted by law. BDCs involve substantial costs and investors should review the prospectus regarding fees and expenses. There are no guarantees that investment objectives will be met.
Investors should consider the investment objective and policies, risk considerations, charges and ongoing expenses of an investment carefully before investing. PSIF’s SEC filings contain this and other information relevant to an investment in PSIF.
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 PSIF. 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 future events and conditions, including, but not limited to, the coronavirus (COVID-19) pandemic, and elements of the future that are or are not under the control of PSIF and that PSIF 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 PSIF undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.