Montgomery Street Income Securities, Inc. Announces Distribution and Election of New Director
October 22 2014 - 11:58AM
Business Wire
Montgomery Street Income Securities, Inc. (NYSE: MTS) (the
“Fund”) declared a dividend of $0.15 per share. The dividend is
payable on November 10, 2014 to stockholders of record at the close
of business on November 3, 2014.
It is anticipated that substantially all of the distributions
paid to date in 2014 will be distributions from ordinary income for
tax purposes. The actual sources of distributions will be reported
to stockholders in January 2015 on Form 1099-DIV.
Additionally, effective October 21, 2014, the Board of Directors
elected Richard H. Stanton as a Director of the Fund, increasing
the number of Directors to five. Mr. Stanton is a Professor of
Finance and Real Estate at the Haas School of Business of the
University of California at Berkeley and brings to the Board his
knowledge of finance and real estate-related securities, among
other attributes.
The Fund is a closed-end diversified management investment
company whose primary investment objective is to seek as high a
level of current income as is consistent with prudent investment
risks, from a diversified portfolio primarily of debt securities.
The Fund’s shares are traded on the New York Stock Exchange under
the symbol MTS.
Closed-end funds, unlike open-end funds, are not continuously
offered. There is generally a one-time public offering and, once
issued, shares of closed-end funds are sold in the open market
through a stock exchange. The price of the Fund’s shares is
determined by a number of factors, several of which are beyond the
control of the Fund. Therefore, the Fund cannot predict whether its
shares will trade at, below or above net asset value. Shares of
closed-end funds frequently trade at a discount to net asset
value.
Investments in funds involve risk. Yields and market values will
fluctuate. Investing in foreign markets presents certain unique
risks not associated with domestic investments, such as currency
fluctuations, political and economic changes and market risks.
Additionally, the Fund may invest in lower-quality and non-rated
securities, which present greater risks of loss of principal and
interest than higher-quality securities. Further, the Fund may use
derivatives, which involve risks that can differ from or exceed
those of the underlying instruments, including correlation risk,
liquidity risk, valuation risk, the risk of unlimited losses,
counterparty risk and operational risk. All of these factors may
result in greater share price volatility.
This announcement is not an offer to purchase or the
solicitation of an offer to sell shares of the Fund, a prospectus,
a circular or representation intended for use in the purchase or
sale of Fund shares, or a proxy solicitation.
NOT FDIC/NCUA INSURED - MAY LOSE VALUE - NO
BANK GUARANTEE
NOT A DEPOSIT - NOT INSURED BY ANY FEDERAL GOVERNMENT
AGENCY
For stockholder inquiries:Computershare Shareowner
Services(877) 437-3938orFor media
inquiries:Courtney L. Sipperley(303) 224-7546 or
(800) 565-9044 x 57546