Special Opportunities Fund Declares Distributions for First Quarter Of 2022

Rhea-AI Summary

Special Opportunities Fund, Inc. (NYSE: SPE) has declared three monthly dividends under its managed distribution plan, maintaining an annual rate of 8% based on a net asset value of $16.55 as of December 31, 2021. The dividends for January, February, and March 2022 are set at $0.11 each, with corresponding record and payable dates outlined. The Fund may distribute long-term capital gains or return of capital if investment income is insufficient. The managed distribution plan is subject to periodic review and potential amendment by the Board.

Positive

• Monthly dividends announced at an 8% annual rate based on a net asset value of $16.55.
• Consistent dividend payouts of $0.11 for the next three months.

Negative

• Possible reliance on long-term capital gains or return of capital if investment income is insufficient.
• The Board may amend or terminate the managed distribution plan without prior notice.

NEW YORK--(BUSINESS WIRE)-- Special Opportunities Fund, Inc. (NYSE: SPE) (the “Fund”) today announced that the Fund’s Board of Directors (the “Board”) has declared the next three monthly dividends under the Fund’s managed distribution plan.

Under the Fund’s managed distribution plan, the Fund intends to make monthly distributions to common stockholders at an annual rate of 8% (or 0.6667% per month) for 2022, based on the net asset value of $16.55 of the Fund’s common shares as of December 31, 2021.

The next three dividends for 2022 declared under the managed distribution plan are as follows:

Month		Rate		Record Date		Payable Date
January		$0.11		January 20, 2022		January 31, 2022
February		$0.11		February 17, 2022		February 28, 2022
March		$0.11		March 22, 2022		March 31, 2022

Under the managed distribution plan, to the extent that sufficient investment income is not available on a monthly basis, the Fund will distribute long-term capital gains and/or return of capital. To the extent that the Fund’s net investment income and net realized capital gains exceed the aggregate amount distributed pursuant to the managed distribution plan, the Fund may make an additional year-end distribution. No conclusions should be drawn about the Fund’s investment performance from the amount of the distributions. The Board may amend the terms of the managed distribution plan or terminate the plan at any time without prior notice to stockholders which could have an adverse effect on the market price of the Fund’s common shares. The plan will be subject to periodic review by the Board, including a yearly review of the annual fixed rate to determine if an adjustment should be made.

The Fund will issue a notice to common stockholders that will provide an estimate of the composition of each distribution. For tax reporting purposes the actual composition of the total amount of distributions for each year will continue to be provided on a Form 1099-DIV issued after the end of the year.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220104005707/en/

U.S. Bank Global Fund Services – John Buckel (414) 765-4255

Source: Special Opportunities Fund, Inc.

FAQ

What is the dividend rate for Special Opportunities Fund (SPE) in 2022?

The dividend rate for Special Opportunities Fund (SPE) is set at 8% annually, equating to $0.11 per month.

When are the next dividends for SPE scheduled?

The next dividends for SPE are scheduled for January 31, February 28, and March 31, 2022.

What could affect the dividend payments for SPE?

Dividend payments for SPE could be affected if the Fund does not generate sufficient investment income, leading to reliance on long-term capital gains or return of capital.

What is the net asset value of SPE as of December 31, 2021?

The net asset value of Special Opportunities Fund (SPE) as of December 31, 2021, is $16.55.

Can the managed distribution plan for SPE be changed?

Yes, the managed distribution plan for SPE can be amended or terminated by the Board without prior notice to stockholders.