SmarterDividends
PCF

High Income Securities Fund

PCF

Financial Services · Asset Management · Stock · monthly payer

$5.05

Undervalued · +36% Add to Portfolio

Forward Yield

13.78%

Annual Dividend

$0.70

Payout Ratio

338%

5-Yr Growth

-6.4%

Ex-Date

Oct 20, 2026

Frequency

Monthly

Key facts about PCF's dividend

Data as of · Source: SmarterDividends data

  • As of Oct 20, 2026, High Income Securities Fund (PCF) has a forward dividend yield of 13.78%, based on an annual dividend of $0.70 per share and a share price of $5.05.
  • As of Oct 20, 2026, PCF's dividend safety grade from SmarterDividends is C (54 out of 100), which rates the dividend as borderline.
  • PCF last cut its regular dividend in 2025.
  • PCF's next ex-dividend date is Oct 20, 2026, with payment on Oct 30, 2026. Shares must be owned before that date to receive the dividend.
  • As of Oct 20, 2026, PCF pays out 338% of its trailing 12-month earnings as dividends (its payout ratio).
  • PCF's dividend has shrunk at an average rate of 6.4% a year over the past five years.
  • As of Oct 20, 2026, PCF's 13.78% yield is 24% above its five-year average yield of 11.09%.
  • As of Oct 20, 2026, SmarterDividends' blended fair-value estimate for PCF is $6.89 per share, 36% above the $5.05 share price, so PCF screens as undervalued.
  • High Income Securities Fund (PCF) pays its dividend monthly, 12 times a year.
  • High Income Securities Fund (PCF) has raised its regular dividend 15 times and cut it 23 times across the 460 payments on record since 1987. Its most recent change was a 1.7% cut to $0.0580 per share, going ex-dividend on Jan 20, 2026.
Cite this page

SmarterDividends, "PCF Dividend: Yield, Safety Grade & Next Ex-Date," updated Oct 20, 2026, https://smarterdividends.com/stocks/PCF

Summary

As of Oct 20, 2026, High Income Securities Fund (PCF) yields 13.78% ($0.70 a year per share) and has a dividend safety grade of C (54/100).

Is PCF a good dividend stock?

Mixed

High Income Securities Fund (PCF) pays a monthly dividend yielding 13.78% ($0.70/yr), with 0 years of growth and a dividend-safety grade of C. The picture is mixed — the dividend pays, but safety or growth signals are weaker than ideal.

Advantages

    Risks

    • Cut its dividend in 2025
    • Elevated payout ratio (338%)
    • Dividend has been shrinking, not growing
    • Very high yield can signal elevated risk
    • Share price is down over the past 5 years

    Key Data

    Dividend Yield
    13.78%
    Payout Ratio
    338%
    Annual Dividend
    $0.70
    5-Yr Avg Growth
    -6.4%
    Ex-Dividend Date
    Oct 20, 2026
    Years of Growth
    0
    Frequency
    monthly
    Beta
    0.62
    Market Cap
    $94.5M
    P/E Ratio
    24.0
    5-Yr Total Return
    -40%
    52-Week Range
    $4.95 – $6.31
    Dividend Safety
    C · 54/100
    Ever Cut?
    Yes (2025)

    PCF dividend raises and cuts

    High Income Securities Fund (PCF) has raised its regular dividend 15 times and cut it 23 times across the 460 payments on record since 1987. Its most recent change was a 1.7% cut to $0.0580 per share, going ex-dividend on Jan 20, 2026.

    Ex-dateChangeOld → newMove
    Jan 20, 2026Cut$0.0590 → $0.0580−1.7%
    Jan 21, 2025Cut$0.0620 → $0.0590−4.8%
    Jan 19, 2024Raise$0.0600 → $0.0620+3.3%
    Jan 19, 2023Cut$0.0730 → $0.0600−17.8%
    Jan 19, 2022Cut$0.0780 → $0.0730−6.4%
    Jan 19, 2021Cut$0.0820 → $0.0780−4.9%
    Jan 16, 2020Raise$0.0480 → $0.0820+70.8%
    Aug 14, 2019Raise$0.0280 → $0.0480+71.4%
    Aug 22, 2017Cut$0.0310 → $0.0280−9.7%
    Aug 20, 2014Cut$0.0330 → $0.0310−6.1%
    Feb 20, 2014Cut$0.0390 → $0.0330−15.4%
    Dec 20, 2012Cut$0.0440 → $0.0390−11.4%
    Show all 38 changes since 1990
    Ex-dateChangeOld → newMove
    Mar 20, 2009Cut$0.0490 → $0.0440−10.2%
    Dec 19, 2008Raise$0.0460 → $0.0490+6.5%
    Sep 20, 2006Raise$0.0440 → $0.0460+4.5%
    Sep 21, 2005Cut$0.0470 → $0.0440−6.4%
    Mar 22, 2004Raise$0.0460 → $0.0470+2.2%
    Sep 22, 2003Cut$0.0470 → $0.0460−2.1%
    Aug 20, 2003Raise$0.0460 → $0.0470+2.2%
    Apr 22, 2003Cut$0.0470 → $0.0460−2.1%
    Mar 20, 2003Raise$0.0460 → $0.0470+2.2%
    Sep 18, 2002Cut$0.0470 → $0.0460−2.1%
    Jun 18, 2002Raise$0.0460 → $0.0470+2.2%
    May 16, 2002Cut$0.0540 → $0.0460−14.8%
    Feb 15, 2002Cut$0.0550 → $0.0540−1.8%
    Jan 17, 2002Raise$0.0540 → $0.0550+1.9%
    Nov 16, 2001Cut$0.0550 → $0.0540−1.8%
    Apr 18, 2001Cut$0.0710 → $0.0550−22.5%
    Jul 14, 1994Raise$0.0700 → $0.0710+1.4%
    Jun 14, 1994Cut$0.0710 → $0.0700−1.4%
    Apr 14, 1994Raise$0.0700 → $0.0710+1.4%
    Jan 13, 1993Raise$0.0660 → $0.0700+6.1%
    Nov 16, 1992Cut$0.0700 → $0.0660−5.7%
    Jul 14, 1992Cut$0.0710 → $0.0700−1.4%
    Jun 16, 1992Raise$0.0700 → $0.0710+1.4%
    Jan 14, 1992Cut$0.0710 → $0.0700−1.4%
    Jan 14, 1991Cut$0.0760 → $0.0710−6.6%
    Dec 14, 1990Raise$0.0710 → $0.0760+7.0%
    Every PCF payment →Download every raise and cut (CSV)
    PCF ex-dividend date & scheduleNext ex-date Oct 20, 2026 · full ex-dividend historyView →PCF dividend historyEvery payment, totals by year, raises and cutsView →

    Frequently Asked Questions

    Is PCF a good dividend stock?

    Mixed. High Income Securities Fund (PCF) pays a monthly dividend yielding 13.78% ($0.70/yr), with 0 years of growth and a dividend-safety grade of C. The picture is mixed — the dividend pays, but safety or growth signals are weaker than ideal.

    Is PCF undervalued?

    Based on a blend of discounted cash flow, a dividend-discount model and an earnings-multiple estimate, PCF's fair value is about $6.89 versus a $5.05 share price — so it looks undervalued (+36% vs. fair value).

    Is PCF's dividend safe?

    PCF has a dividend-safety grade of C (54/100), based on its payout coverage, free-cash-flow, 0-year growth streak, a dividend cut in 2025, debt and yield-versus-history.

    What is PCF's fair value?

    Our blended fair-value estimate for PCF is about $6.89 per share, roughly 36% above the current $5.05 price — combining a discounted cash flow, a dividend-discount model and an earnings multiple.

    Is PCF a buy, hold, or sell?

    We don't issue formal ratings, but on the data PCF screens as "mixed" and undervalued. High Income Securities Fund (PCF) pays a monthly dividend yielding 13.78% ($0.70/yr), with 0 years of growth and a dividend-safety grade of C. The picture is mixed — the dividend pays, but safety or growth signals are weaker than ideal. This is research for your own analysis, not investment advice.

    Will PCF cut its dividend?

    PCF earns a dividend-safety grade of C (54/100), and has cut its dividend before (last in 2025). A higher score means lower cut risk based on payout coverage, cash flow and history — but no score guarantees a dividend.

    Does PCF pay a dividend?

    Yes. High Income Securities Fund pays a monthly dividend of about $0.70 per share annually, a forward yield of roughly 13.78%.

    What is PCF's dividend yield?

    As of Oct 20, 2026, PCF's forward dividend yield is 13.78%, based on a $0.70 annual dividend and a $5.05 share price.

    What is PCF's dividend per share?

    As of Oct 20, 2026, PCF pays $0.70 per share per year, distributed on a monthly basis.

    What is PCF's dividend payout ratio?

    As of Oct 20, 2026, PCF's payout ratio is 338% of trailing 12-month earnings — an elevated level worth watching, as it leaves less cushion if earnings dip.

    How many years has PCF grown its dividend?

    PCF does not currently have a long dividend-growth streak on record.

    When is the next PCF ex-dividend date?

    As of Oct 20, 2026, the next ex-dividend date on record for PCF is Oct 20, 2026.

    Income Calculator

    At $0.70 / yr per share

    Per payment (monthly)$5.83
    Annual$70.00
    Monthly avg$5.83

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