DALLAS, Sept. 9,
2022 /PRNewswire/ -- Vertical Capital Income Fund
(NYSE: VCIF) today announced a distribution of $0.0710 per share pursuant to the Fund's managed
distribution plan (the "Plan"), payable as follows:
Declaration –
9/9/2022
|
Ex-Date –
9/19/2022
|
Record Date –
9/20/2022
|
Payable –
9/30/2022
|
Pursuant to the Plan, the Fund pays a minimum monthly
distribution to shareholders at a stated annual rate as a
percentage of the 3-month average net asset value ("NAV") of the
Fund's shares prior to the month of distribution. The
distribution is calculated as 8% of the previous three-month
average NAV, divided by 12. The primary purpose of the Plan
is to provide investors with consistent, but not guaranteed,
periodic distributions from the Fund, regardless of when or whether
income is earned or capital gains are realized. Distributions
under the Plan may consist of (i) net investment income, (ii) net
realized short-term capital gains, (iii) net realized long-term
capital gains and, to the extent necessary, (iv) return of capital
(or other capital sources). With each distribution that does not
consist solely of net investment income, the Fund will issue a
notice to shareholders and an accompanying press release that will
provide detailed information regarding the amount and composition
of the distribution, as well as certain other related information.
The Fund expects to issue any such notice and press release on or
about the distribution payment date.
The Fund had approximately $1.9
million in cash as of August
31, 2022. A new monthly net asset value per share of
$10.56 was produced on August 31, 2022. For information on the
Fund's current net asset value per share, please visit the Fund's
website at vcif.us.
The Plan will be subject to periodic review by the Board, and
the Board may amend the terms of the Plan including amending the
annual rate of payment or may terminate the Plan at any time
without prior notice to the Fund's shareholders. The Fund's
distribution rate may be affected by numerous factors, including
changes in realized and projected market returns, Fund performance,
and other factors. There can be no assurance that an
unanticipated change in market conditions or other unforeseen
factors will not result in a change in the Fund's distribution rate
at a future time. The amendment or termination of the Plan
could have an adverse effect on the market price of the Fund's
shares. The public health crises caused by the COVID-19
outbreak may exacerbate other pre-existing political, social and
economic risks to which the Fund is exposed. The duration of
the COVID-19 outbreak and its effects cannot be determined with
certainty. In order to comply with the requirements of
Section 19 of the Investment Company Act of 1940, and an exemptive
order received by the Fund from the Securities and Exchange
Commission, the Fund will provide its shareholders of record 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 anything other
than net investment income. This information will be
forthcoming later this month.
The amounts and sources of distributions reported in 19(a)
Notices are only estimates and are not provided for tax reporting
purposes. The actual amounts and sources of the amounts for tax
reporting purposes will depend upon the Fund's investment
experience during its full fiscal year and may be subject to
changes based on tax regulations. The Fund will send shareholders a
Form 1099-DIV for the calendar year that 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.vcif.us. The final determination of the source and
tax characteristics of all distributions in 2022 will be made after
the end of the year.
Shares of closed-end funds often trade at a discount from
their net asset value. The market price of Fund shares may vary
from net asset value based on factors affecting the supply and
demand for shares, such as Fund distribution rates relative to
similar investments, investors' expectations for future
distribution changes, the clarity of the Fund's investment strategy
and future return expectations, and investors' confidence in the
underlying markets in which the Fund invests. Fund shares are
subject to investment risk, including possible loss of principal
invested. No Fund is a complete investment program and you may lose
money investing in a Fund. An investment in the Fund may not be
appropriate for all investors. Before investing, prospective
investors should consider carefully the Fund's investment
objective, risks, charges and expenses. For further details,
please visit Vertical Capital Income Fund's website at
vcif.us.
This release contains forward-looking statements relating to
the business and financial outlook of Vertical Capital Income Fund
that are based on the Fund's current expectations, estimates,
forecasts and projections and are not guarantees of future
performance. There is 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 any such statements. A number of
important factors could cause actual results to differ materially
from the forward-looking statements contained in this
release.
About Vertical Capital Income
Fund
Vertical Capital Income Fund (VCIF) is an NYSE-listed closed-end
fund that seeks monthly income by investing primarily in performing
non-agency residential whole loans secured by real estate. As a
secondary strategy the Fund aims to provide total return by
acquiring performing residential loans at a discount to the unpaid
principal balance (UPB). VCIF realizes capital gains as loans are
paid off before maturity. For more information visit VCIF.us and
connect with the Fund on Twitter.
About Oakline Advisors,
LLC
Oakline Advisors, LLC is the adviser to Vertical Capital Income
Fund. Founded in 2013, Oakline Advisors, LLC is an
SEC-registered investment adviser that specializes in the
residential whole loan market. It is a wholly owned subsidiary of
Dallas, TX-based Behringer.
Since its inception in 1989, Behringer, together with its
affiliates, has raised equity of more than $6 billion in assets through public and private
fund structures. For more information about Oakline and
Behringer please visit their respective websites at
oaklineadvisors.com and behringerinvestments.com.
Fund shares are identified by CUSIP 92535C104
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SOURCE Vertical Capital Income Fund