High Income Securities Fund
PCFFinancial Services · Stock · monthly payer
Forward Yield
12.61%
Annual Dividend
$0.70
Payout Ratio
337%
5-Yr Growth
-6.4%
Ex-Date
Sep 22, 2026
Frequency
Monthly
Summary
As of September 2026, High Income Securities Fund (PCF) yields 12.61% ($0.70 per share annually), with a blended fair-value estimate of $11.64 — +112% upside, so it screens as undervalued. Dividend safety grade: C (54/100).
Is PCF a good dividend stock?
MixedHigh Income Securities Fund (PCF) pays a monthly dividend yielding 12.61% ($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 (337%)
- 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
- 12.61%
- Payout Ratio
- 337%
- Annual Dividend
- $0.70
- 5-Yr Avg Growth
- -6.4%
- Ex-Dividend Date
- Sep 22, 2026
- Years of Growth
- 0
- Frequency
- monthly
- Beta
- 0.65
- Market Cap
- $104.3M
- P/E Ratio
- 26.5
- 5-Yr Total Return
- -37%
- 52-Week Range
- $5.23 – $6.49
- Dividend Safety
- C · 54/100
- Ever Cut?
- Yes (2025)
Frequently Asked Questions
PCF Price — Last 12 Months
Daily close
Price Return
1 Year
-13%
3 Years
-11%
5 Years
-37%
52-Week Range
$5.23 – $6.49
Price change over each period (excludes dividends). Past performance doesn't guarantee future results.
What is PCF worth?
Undervaluedlow confidenceOur blended fair-value estimate for High Income Securities Fund is $11.64 per share, versus a market price of $5.50. That implies 112% of upside — a margin of safety of about 53%.
Fair Value
$11.64
Current Price
$5.50
Upside
+112%
Margin of Safety
53%
How we get there
Dividend discount
Discounts the future dividend stream back to today.
Assumptions: 7.5% discount rate (CAPM), -5.0% stage-1 growth, 2.5% terminal growth, $0.21 EPS, $0.70 annual dividend. Updated weekly.
Fair-value estimates are model output for educational purposes only — not investment advice or a price target.
PCF Dividend Safety Score
Borderline
SmarterDividends' proprietary score, backtested against which dividends were actually cut over 15+ years (0.78 AUC). It blends a validated cut-risk model (growth streak, cut history) with current payout, cash-flow and debt. Higher is safer · not investment advice.
Dividend Growth
Total dividends per share by year
Dividend History
| Ex-Date | Pay Date | Amount | Type |
|---|---|---|---|
| Aug 18, 2026 | — | $0.0580 | regular |
| Jul 21, 2026 | — | $0.0580 | regular |
| Jun 16, 2026 | — | $0.0580 | regular |
| May 19, 2026 | — | $0.0580 | regular |
| Apr 22, 2026 | — | $0.0580 | regular |
| Apr 21, 2026 | — | $0.0580 | regular |
| Mar 17, 2026 | — | $0.0580 | regular |
| Feb 17, 2026 | — | $0.0580 | regular |
| Jan 20, 2026 | — | $0.0580 | regular |
| Dec 16, 2025 | — | $0.0590 | regular |
| Nov 18, 2025 | — | $0.0590 | regular |
| Oct 21, 2025 | — | $0.0590 | regular |
| Sep 16, 2025 | — | $0.0590 | regular |
| Aug 19, 2025 | — | $0.0590 | regular |
Income Calculator
At $0.70 / yr per share
