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RiverNorth Opportunities Fund, Inc., RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. and RiverNorth Capital and Income Fund, Inc.* Announce Preferred Dividends
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Positive)
Tags
dividends
Rhea-AI Summary
RiverNorth Opportunities Fund, Inc. and its associated funds have announced preferred dividends for the first quarter of 2023. The dividends include:
RIVPRA: $0.37500 (6.000% Series A Perpetual Preferred Stock)
OPPPRA: $0.27344 (4.375% Series A Cumulative Preferred Stock)
OPPPRB: $0.29688 (4.750% Series B Cumulative Preferred Stock)
RMPL: $0.36719 (5.875% Series A Term Preferred Stock)
The ex-date for these dividends is February 1, 2023, with a payable date of February 15, 2023. The distributions may come from various income sources, not limited to ordinary income.
Positive
Preferred dividends declared for multiple funds, indicating consistent income for shareholders.
Distribution amounts show a commitment to return capital to investors.
Negative
Distributions may be funded from sources other than ordinary income, raising sustainability concerns.
WEST PALM BEACH, Fla.--(BUSINESS WIRE)--
RiverNorth Opportunities Fund, Inc., RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. and RiverNorth Capital and Income Fund, Inc. are each pleased to announce the declaration of preferred dividends for the first quarter of 2023, as detailed below.
Ex Date
Record Date
Payable Date
February 1, 2023
February 2, 2023
February 15, 2023
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 Capital and Income Fund, Inc.
5.875% Series A Term Preferred Stock
RMPL
$0.36719
*Formerly known as RiverNorth Specialty Finance Corporation. Effective December 7, 2022 the Fund changed its name to RiverNorth Capitaland Income Fund, Inc.
RiverNorth Capital Management, LLC is an investment management firm founded in 2000. With $5.0 billion1 in assets under management as of November 30, 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 Capital and Income Fund, Inc.’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.
What are the dividend amounts for OPP, RIVPRA, and RMPL?
The dividend amounts are: OPP (Series A Cumulative Preferred Stock) - $0.27344, RIVPRA (6.000% Series A Perpetual Preferred Stock) - $0.37500, RMPL (5.875% Series A Term Preferred Stock) - $0.36719.
When are the dividends payable for OPP, RIVPRA, and RMPL?
The dividends are payable on February 15, 2023.
What is the ex-date for the preferred dividends of OPP, RIVPRA, and RMPL?
The ex-date is February 1, 2023.
Are the dividends for OPP, RIVPRA, and RMPL sustainable?
The dividends may come from sources other than ordinary income, which could raise sustainability concerns.
RiverNorth/DoubleLine Strategic Opportunity Fund, Inc.
