RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. and RiverNorth Specialty Finance Corporation Announce Preferred Dividends

Rhea-AI Summary

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. and RiverNorth Specialty Finance Corporation have declared preferred dividends for Q2 2021. The former announced a cash dividend of $0.27344 per share for its 4.375% Series A Cumulative Preferred Stock (NYSE: OPPPRA). The latter declared $0.36719 per share for its 5.875% Series A Term Preferred Stock (NYSE: RMPL). Important dividend dates include Ex Date: April 30, 2021, Record Date: May 3, 2021, and Payable Date: May 17, 2021. RiverNorth manages approximately $5.1 billion in assets.

Positive

• Declared dividends of $0.27344 for OPPPRA and $0.36719 for RMPL, indicating financial stability.
• Dividends are paid quarterly, providing consistent income for shareholders.

Negative

• Dividends may be sourced from income other than ordinary income, creating uncertainty in income reliability.

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. and RiverNorth Specialty Finance Corporation are each pleased to announce the declaration of preferred dividends for the second quarter of 2021, as detailed below.

The Board of Directors of RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. has declared a quarterly cash dividend of $0.27344 per share of the Fund’s 4.375% Series A Cumulative Preferred Stock (NYSE: OPPPRA).

The Board of Directors of RiverNorth Specialty Finance Corporation has declared a quarterly cash dividend of $0.36719 per share of the Fund’s 5.875% Series A Term Preferred Stock (NYSE: RMPL).

The following dates apply to each dividend declared:

Ex Date	Record Date	Payable Date
April 30, 2021	May 3, 2021	May 17, 2021

About RiverNorth

RiverNorth Capital Management, LLC is an investment management firm founded in 2000. With $5.1 billion¹ in assets under management as of March 31, 2021, RiverNorth specializes in opportunistic investment strategies in niche markets where the potential to exploit inefficiencies is greatest. RiverNorth is an institutional investment manager to registered funds, private funds and separately managed accounts.

The distributions were calculated based on the preferred shares Liquidation Preference of $25.00 per share and most current quarterly distribution rate per share of $0.27344 for RiverNorth/DoubleLine Strategic Opportunity Fund, Inc.’s 4.375% Series A Cumulative Preferred Stock, and $0.36719 for RiverNorth Specialty Finance Corporation’s 5.875% Series A Term Preferred Stock, respectively. Distributions may be paid from sources of income other than ordinary income, such as net realized short-term capital gains, net realized long-term capital gains and return of capital. The actual amounts and sources of the amounts for tax reporting purposes will depend upon each Fund’s investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. If a distribution includes anything other than net investment income, the Fund provides a Section 19(a) notice of the best estimate of its distribution sources at that time. These estimates may not match the final tax characterization (for the full year’s distributions) contained in shareholders’ 1099-DIV forms after the end of the year.

This data is for information only and should not be construed as an official tax form, nor should it be considered tax or investment advice. RiverNorth is not a tax advisor and investors should consult a tax professional for guidance regarding their specific tax situation. Please consult your legal or tax advisor.

Investors should consider the Fund's investment objective, risks, charges and expenses carefully before investing. The prospectus should be read carefully before investing. For more information, please read the prospectus, call your financial professional or call 844.569.4750.

Investing in the Fund involves certain risks, including loss of principle, that are described in the "Risks" section of each Prospectus.

¹ Firm AUM reflects Managed Assets which includes the effects of leverage and investments in affiliated funds.

RiverNorth® is a registered trademark of RiverNorth Capital Management, LLC.
DoubleLine® is a registered trademark of DoubleLine Capital LP.
©2000-2021 RiverNorth Capital Management, LLC. All rights reserved.
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FAQ

What is the dividend amount for OPPPRA in Q2 2021?

The dividend amount for OPPPRA is $0.27344 per share.

What is the dividend amount for RMPL in Q2 2021?

The dividend amount for RMPL is $0.36719 per share.

When is the payable date for the dividends of OPPPRA and RMPL?

The payable date is May 17, 2021, for both OPPPRA and RMPL.

What are the risks associated with the dividend payments for OPPPRA and RMPL?

Dividends may be sourced from net realized gains or return of capital, not just ordinary income.