Company: PRIF-PJ
Filing Date: 2025-03-26
Form Type: N-2
Source: 0001554625-25-000027
Chunk: 153

Company: Priority Income Fund, Inc.
Filing Date: 2025-03-26
Form: N-2
Chunk 153
---
idends and Dividend Periods
General. The holders of the Preferred Stock, including the Series M Term Preferred Stock, will be entitled to receive cumulative cash dividends and distributions on such shares, when, as and if authorized by, our Board of Directors and declared by us out of funds legally available for payment and in preference to dividends and distributions on our common stock, calculated separately for each Dividend Period for such Preferred Stock at the Dividend Rate for such Preferred Stock in effect during such Dividend Period, in an amount equal to the Liquidation Preference for such Preferred Stock. The Fixed Dividend Rate is computed on the basis of a 360-day year consisting of twelve 30-day months. Dividends so declared and payable will be paid to the extent permitted under state law and our Charter, and to the extent available, in preference to and priority over any dividend declared and payable on the Common Stock. If we are unable to distribute the full dividend amount due in a Dividend Period on the Series M Term Preferred Stock, the dividends will be distributed on a pro rata basis among the holders of the Series M Term Preferred Stock shares.

Fixed Dividend Rate. The Fixed Dividend Rate is an annual rate of [___]% for the Series M Term Preferred Stock. The Fixed Dividend Rate for Preferred Stock may be adjusted in certain circumstances, including upon the occurrence of certain events resulting in a Default Period (as defined below).

Payment of Dividends and Dividend Periods. The first Dividend Period for the Series M Term Preferred Stock will commence on the Date of Original Issuance and end on, but exclude, June 30, 2025. Dividends are scheduled to be paid quarterly on March 31, June 30, September 30 and December 31 of each year and upon redemption of the Preferred Stock. Except for the first Dividend Period, dividends with respect to any quarterly Dividend Period will be declared and paid to holders of record of Preferred Stock as their names shall appear on our registration books at the close of business on the applicable record date, which shall be such date designated by our Board of Directors that is not more than 20, nor less than seven, calendar days prior to such Dividend Payment Date. Dividends with respect to the first Dividend Period of the Series M Term Preferred Stock will be declared and paid on June 30, 2025 to holders of record of such Series M Term Preferred Stock as their names appear on our registration books at the close of business on June