Special Opportunities Fund Declares Distributions For First Quarter of 2023

Rhea-AI Summary

Special Opportunities Fund (NYSE: SPE) has announced the next three monthly distributions under its managed distribution plan, set at an annual rate of 8% based on a net asset value of $13.01 as of December 31, 2022. The distributions for January, February, and March 2023 will each be $0.0867, payable on January 31, February 28, and March 31, respectively. Should investment income be insufficient, the Fund may resort to distributing long-term capital gains or return of capital. Notably, the Board retains the right to amend or terminate the plan without prior notice.

Positive

• Monthly distributions set at an annual rate of 8%.
• Monthly distribution amount of $0.0867 for each of the next three months.

Negative

• The Board can amend or terminate the distribution plan without notice, potentially affecting share price.

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 distributions 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 2023, based on the net asset value of $13.01 of the Fund’s common shares as of December 31, 2022.

The next three distributions declared under the managed distribution plan are as follows:

Month

Rate

Record Date

Payable Date

January

$0.0867

January 20, 2023

January 31, 2023

February

$0.0867

February 16, 2023

February 28, 2023

March

$0.0867

March 22, 2023

March 31, 2023

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/20230104005641/en/

U.S. Bank Global Fund Services – John Buckel (414) 516-1514

Source: Special Opportunities Fund, Inc.

FAQ

What are the upcoming monthly distributions for Special Opportunities Fund (SPE)?

Special Opportunities Fund (SPE) has set its next three distributions at $0.0867 for January, February, and March 2023.

What is the annual distribution rate for Special Opportunities Fund (SPE) in 2023?

The annual distribution rate for Special Opportunities Fund (SPE) in 2023 is 8%, equivalent to 0.6667% per month.

When will the distributions for Special Opportunities Fund (SPE) be paid?

The distributions for SPE will be payable on January 31, February 28, and March 31, 2023.

What is the net asset value of Special Opportunities Fund (SPE) as of December 31, 2022?

The net asset value of Special Opportunities Fund (SPE) as of December 31, 2022, is $13.01.