Special Opportunities Fund Declares Distributions For First Quarter of 2021

Rhea-AI Summary

Special Opportunities Fund (NYSE: SPE) announced the declaration of three monthly dividends as part of its managed distribution plan. The monthly distribution rate is set at an annual rate of 7%, amounting to $0.094 per share for January, February, and March 2021, based on a net asset value of $16.13. The record and payable dates for these dividends are specified for each month. The Fund may adjust its managed distribution plan based on investment income availability, and shareholders will receive tax composition details via Form 1099-DIV.

Positive

• Monthly dividends set at $0.094 per share for January, February, and March 2021.
• Annual distribution rate of 7% based on a net asset value of $16.13.

Negative

• The Fund may distribute capital gains or return of capital if investment income is insufficient.
• The managed distribution plan can be amended or terminated by the Board without prior notice, potentially affecting stock prices.

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 7% (or 0.5833% per month) for 2021, based on the net asset value of $16.13 of the Fund’s common shares as of December 31, 2020.

The next three dividends for 2021 declared under the managed distribution plan are as follows:

Month		Rate		Record Date		Payable Date
January		$0.094		January 20, 2021		January 29, 2021
February		$0.094		February 17, 2021		February 26, 2021
March		$0.094		March 22, 2021		March 31, 2021

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.

The conversion price for each share of the Fund’s convertible preferred stock will decrease by the amount of each distribution to common stockholders. The current conversion ratio as well as other information about the Fund will be available on the Fund’s website at www.specialopportunitiesfundinc.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210105005880/en/

FAQ

What are the dividend amounts declared by Special Opportunities Fund (SPE) for January, February, and March 2021?

The declared dividends are $0.094 per share for each of the months January, February, and March 2021.

What is the annual distribution rate of Special Opportunities Fund (SPE) in 2021?

The annual distribution rate for 2021 is set at 7%.

When are the record and payable dates for the dividends declared by Special Opportunities Fund (SPE)?

The record and payable dates are January 20/29, February 17/26, and March 22/31 for 2021.

What factors could affect the managed distribution plan of Special Opportunities Fund (SPE)?

The Board can amend or terminate the managed distribution plan at any time, and distributions may include capital gains or return of capital if investment income is inadequate.