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RiverNorth Opportunities Fund, Inc., RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. and RiverNorth Specialty Finance Corporation Announce Preferred Dividends
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Neutral)
Tags
dividends
Rhea-AI Summary
RiverNorth Opportunities Fund, Inc. (NYSE:OPP), RiverNorth/DoubleLine Strategic Opportunity Fund, Inc., and RiverNorth Specialty Finance Corporation have declared preferred dividends for Q4 2022. Key details include:
Ex Date: November 1, 2022
Record Date: November 2, 2022
Payable Date: November 15, 2022
The dividends announced are $0.37500 for RIVPRA, $0.27344 for OPPPRA, $0.29688 for OPPPRB, and $0.36719 for RMPL, reflecting ongoing financial health and income generation for shareholders.
Positive
Preferred dividends declared for four funds indicating sustained income generation for shareholders.
Dividend amounts are consistent, suggesting stable financial performance.
Negative
None.
WEST PALM BEACH, Fla.--(BUSINESS WIRE)--
RiverNorth Opportunities Fund, Inc., RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. and RiverNorth Specialty Finance Corporation are each pleased to announce the declaration of preferred dividends for the fourth quarter of 2022, as detailed below.
Ex Date
Record Date
Payable Date
November 1, 2022
November 2, 2022
November 15, 2022
Fund Name
Preferred Stock Series
NYSE
Distribution
Per Share
RiverNorth Opportunities Fund, Inc.
6.000% Series A Perpetual Preferred Stock
RIVPRA
$0.37500
RiverNorth/DoubleLine Strategic Opportunity Fund, Inc.
4.375% Series A Cumulative Preferred Stock
OPPPRA
$0.27344
RiverNorth/DoubleLine Strategic Opportunity Fund, Inc.
4.750% Series B Cumulative Preferred Stock
OPPPRB
$0.29688
RiverNorth Specialty Finance Corporation
5.875% Series A Term Preferred Stock
RMPL
$0.36719
About RiverNorth
RiverNorth Capital Management, LLC is an investment management firm founded in 2000. With $5.3 billion1 in assets under management as of August 31, 2022, 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 $0.37500 for the RiverNorth Opportunities Fund, Inc.’s 6.00% Series A Perpetual Preferred Stock, $0.27344 for the RiverNorth/DoubleLine Strategic Opportunity Fund, Inc.’s 4.375% Series A Cumulative Preferred Stock, $0.29688 for RiverNorth/DoubleLine Strategic Opportunity Fund, Inc.’s 4.75% Series B Cumulative Preferred Stock, and $0.36719 for the 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 principal, that are described in the "Risks" section of each Prospectus.
Marketing services provided by ALPS Distributors Inc. ALPS and RiverNorth are not affiliated.
1Firm AUM reflects Managed Assets which includes the effects of leverage and investments in affiliated funds.
