PPR – Dividend of $ 0.0110 in March


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SCOTTSDALE, Ariz .– (BUSINESS WIRE) – Voya Prime Rate Trust (NYSE: PPR), a diversified closed-end management investment company listed on the New York Stock Exchange, declared a monthly dividend of 1.10 cents per share on March 31, 2021, payable on April 22, 2021 to shareholders of record on April 12, 2021 This represents the 395th consecutive monthly dividend since the creation of the Trust in May 1988.

Here is the calculation of the annualized payout rate based on the dividend declared for the month, the net asset value (“NAV”) at the end of the month and the NYSE composite month end (“market”) closing price.

End-of-period annualized payout rate




March 31, 2021

$ 0.0110



The investment objective of the Trust is to provide investors with a level of current income as high as is compatible with the preservation of capital.

The Trust is managed by Voya Investments, LLC and sub-advised by Voya Investment Management Co. LLC, and its shares are distributed by Voya Investments Distributor, LLC. The advisor, sub-advisor and distributor are indirect wholly-owned subsidiaries of Voya Financial, Inc. (NYSE: VOYA). The operations of the trust are based in Scottsdale, Arizona.

Distribution rates are calculated by annualizing the dividends declared during the period (that is to say, divide the monthly dividend amount by the number of days in the relevant month and multiply by the number of days in the fiscal year), then divide the resulting annualized dividend by the month-end net asset value (in the case of net asset value) or month – end of the closing price on the NYSE composite (in the market case). The payout rate is based solely on actual dividends and distributions, which are made at the discretion of management. The payout rate may or may not include all investment income and generally does not include capital gains.

Past performance is no guarantee of future results. The investment performance and the capital value of an investment in the Trust will fluctuate. Shares, once sold, may be worth more or less than their original cost.

Main risk factor (s): The Trust invests primarily in lower quality, variable rate senior loans which carry a higher than normal risk that borrowers will fail to repay principal and interest on their loans on a timely basis, which would likely cause the value of the common shares of the Trust to decline. Short-term market interest rate development will have a direct impact on the performance of the common shares of the Trust. If these rates fall, the return on the trust will also decline. If interest rate spreads on Trust loans generally decrease, the yield on Trust loans will decline and the value of Trust loans may decline. When short-term market interest rates rise, due to the lag between changes in those short-term rates and the resetting of variable rates on the loans in the Trust’s portfolio, the impact of the rate increase will be delayed to the extent of this offset. Because of limited secondary market for senior variable rate bank loans, the ability of the Trust to sell its loans on a timely basis and / or at a favorable price may be limited. An increase in loan demand may adversely affect the rate of interest payable on new loans acquired by the Trust and may also increase the price of loans purchased by the Trust in the secondary market. A decrease in loan demand could adversely affect the price of loans in the Trust Portfolio, resulting in a decrease in the net asset value of the Trust. The Trust use of leverage by borrowing or issuing preferred shares may adversely affect the performance of the common shares of the Trust. The Trust may invest up to 20% of its assets in loans to borrowers in countries outside of the United States and Canada. Investment in foreign borrowers involves particular risks, including potentially less stringent accounting requirements, different legal systems and possible political, social and economic adversity. The Trust may invest up to 15% of its assets in loans denominated in certain foreign currencies, but the Trust will enter into currency exchange transactions to seek to hedge, as closely as possible, 100% of the economic impact on the Trust resulting from currency fluctuations. Other risks include, but are not limited to: Loans; Preferred shares; Diversification risks; and concentration risks. Investors should consult the prospectus and the Trust’s Supplementary Information Statement for a more detailed analysis of the Trust’s risks.

Distributor Voya Investments, LLC 230 Park Ave, New York, NY 10169

Jeff Bakalar: (480) 477-2210

Source: Voya Prime Rate Trust

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