DALLAS, August 30, 2019 / PRNewswire / – Vertical Capital Income Fund (NYSE: VCIF) today announced a distribution of $ 0.024 per share, payable as follows:
Declaration – 08/30/2019 Ex-Date – 09/09/2019 Registration date – 09/10/2019 Payable – 09/17/2019
The August distribution was higher than the previous month as net investment income increased due to recent acquisitions and a reduction in one-time costs.
The Fund had approximately $ 3.4 million in cash at the end of August. The reduction in liquidity compared to the previous month is the result of the activity of acquiring and repaying the Fund’s line of credit. Approximately $ 5.5 million remains in the acquisition pipeline which includes loans that have already been made to the Fund and that are either under due diligence or under due diligence and awaiting closure. These pending acquisitions are subject to various closing conditions and the Fund cannot guarantee that these acquisitions will be completed. The loans acquired in August and those included in the pipeline are in line with the Fund’s strategy of acquiring whole performing residential loans to support the Fund’s objective of earning income.
A new monthly net asset value per share of $ 12.79552 was produced on August 19, 2019 in connection with the payment of the Fund’s July dividend. For more information on the current net asset value per share of the Fund, please visit the Fund’s website at vertical- Incomefund.com.
The distribution rate of the Fund may be affected by many factors, including changes in realized and projected market returns, the performance of the Fund and other factors. There can be no assurance that an unforeseen change in market conditions or other unforeseen factors will not result in a change in the distribution rate of the Fund at a later date. In order to comply with the requirements of Section 19 of the Investment Companies Act 1940, the Fund will provide its registered shareholders on each distribution date with a 19 (a) notice and issue an accompanying press release. disclosing the sources of its distribution payment. when a distribution includes something other than net investment income.
The amounts and sources of distributions shown in Notices 19 (a) are estimates only and are not provided for tax reporting purposes. The actual amounts and the sources of the amounts for tax reporting purposes will depend on the Fund’s investment experience during its full financial year and may be subject to change depending on tax regulations. The Fund will send shareholders a Form 1099-DIV for the calendar year which will tell them how to report these distributions for federal income tax purposes. Information on the Fund’s 19 (a) notices, if any, can be found at www.vertical-revenufund.com. The final determination of the source and tax characteristics of all distributions in 2019 will be made after the end of the year.
Closed-end fund stocks often trade at a discount to their net asset value. The market price of the shares of the Fund may vary from the net asset value depending on factors affecting the supply and demand of shares, such as the distribution rates of the Fund compared to similar investments, investors’ expectations regarding future distribution changes, the clarity of the Fund’s investment strategy and return expectations and investor confidence in the underlying markets in which the Fund invests. Shares of the Fund are subject to investment risk, including the possible loss of invested capital. No Fund is a complete investment program and you can lose money by investing in a Fund. An investment in the Fund may not be suitable for all investors. Before investing, potential investors should carefully consider the investment objective, risks, charges and expenses of the Fund. For more details, please visit the Vertical Capital Income Fund website at vertical- Incomefund.com.
This press release contains forward-looking statements relating to the business and financial prospects of Vertical Capital Income Fund which are based on current expectations, estimates, forecasts and projections of the Fund and are not guarantees of future performance. There can be no assurance that the Fund will achieve its investment objective. Actual results may differ materially from those expressed in these forward-looking statements, and you should not place undue reliance on such statements. A number of important factors could cause actual results to differ materially from the forward-looking statements contained in this press release.
About the Vertical Capital Income Fund
Vertical Capital Income Fund is a NYSE-listed closed-end fund that invests primarily in whole residential mortgages and whole residential loans secured by trust deeds. The investment objective of the Fund is to seek income.
About Oakline Advisors, LLC
Oakline Advisors, LLC is the advisor to Vertical Capital Income Fund. Founded in 2013, Oakline Advisors, LLC is an SEC registered investment advisor that specializes in the entire residential loan market. It is a wholly owned subsidiary of Dallas, Texas-based on Behringer. Since its inception in 1989, Behringer, along with its subsidiaries, has raised equity capital of over $ 6 billion and invested in more than $ 11 billion in assets through public and private fund structures, joint ventures and separately managed accounts. For more information on Oakline and Behringer, please visit their respective websites at oaklineadvisors.com and behringerinvestments.com.
SOURCE Vertical Capital Income Fund