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

Rhea-AI Summary

RiverNorth/DoubleLine Strategic Opportunity Fund and RiverNorth Specialty Finance Corporation announced preferred dividends for Q1 2021. The Strategic Opportunity Fund declared a dividend of $0.27344 per share for its 4.375% Series A Cumulative Preferred Stock (NYSE: OPPPRA). Meanwhile, the Specialty Finance Corporation declared $0.36719 per share for its 5.875% Series A Term Preferred Stock (NYSE: RPML). Key dates include February 1, 2021 for the ex-dividend date, February 2, 2021 for the record date, and February 16, 2021 for the payment date.

Positive

• Quarterly cash dividend declared for Series A Cumulative Preferred Stock and Series A Term Preferred Stock.
• Dividends of $0.27344 and $0.36719 enhance shareholder income for OPPPRA and RPML, respectively.

Negative

• None.

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. and RiverNorth Specialty Finance Corporation are each pleased to announce the declaration of preferred dividends for the first 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: RPML).

The following dates apply to each dividend declared:

Ex Date	Record Date	Payable Date
February 1, 2021	February 2, 2021	February 16, 2021

About RiverNorth

RiverNorth Capital Management, LLC is an investment management firm founded in 2000. With $4.4 billion¹ in assets under management as of December 31, 2020, 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.

©2000-2021 RiverNorth Capital Management, LLC. All rights reserved.

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FAQ

What is the dividend amount for RiverNorth's OPPPRA preferred stock?

The dividend amount for RiverNorth/DoubleLine Strategic Opportunity Fund's OPPPRA preferred stock is $0.27344 per share.

What is the dividend payment date for RiverNorth's RPML preferred stock?

The payment date for RiverNorth Specialty Finance Corporation's RPML preferred stock is February 16, 2021.

When is the ex-dividend date for RiverNorth's OPPPRA and RPML dividends?

The ex-dividend date for both OPPPRA and RPML dividends is February 1, 2021.

What are the dividend rates for OPPPRA and RPML?

The dividend rates are 4.375% for OPPPRA and 5.875% for RPML.

How are the dividends for OPPPRA and RPML calculated?

Dividends are calculated based on a Liquidation Preference of $25.00 per share for each respective preferred stock.