Special Opportunities Fund Declares Distributions For Fourth Quarter of 2024

Rhea-AI Summary

Special Opportunities Fund, Inc. (NYSE: SPE) has announced its next three monthly distributions under the Fund's managed distribution plan for the fourth quarter of 2024. The Fund aims to make monthly distributions to common stockholders at an annual rate of 8% (0.6667% per month) for 2024, based on the net asset value of $14.31 as of December 31, 2023.

The declared distributions are:

• October: $0.0954 (Record Date: October 22, 2024, Payable Date: October 31, 2024)
• November: $0.0954 (Record Date: November 19, 2024, Payable Date: November 29, 2024)
• December: $0.0954 (Record Date: December 17, 2024, Payable Date: December 31, 2024)

If sufficient investment income is not available, the Fund will distribute long-term capital gains and/or return of capital. The Board may amend or terminate the plan at any time, which could affect the market price of the Fund's common shares.

Positive

• Consistent monthly distributions of $0.0954 per share for Q4 2024
• Annual distribution rate of 8% based on NAV as of December 31, 2023
• Flexibility to distribute long-term capital gains or return of capital if needed

Negative

• Potential for plan amendment or termination without prior notice
• Distributions may include return of capital, which is not income

Insights

Financial Analyst

The announcement of monthly distributions under Special Opportunities Fund's managed distribution plan provides investors with clarity on expected income. The annual distribution rate of 8% based on the NAV is relatively attractive in the current market environment. However, it's important to note that these distributions may not be entirely from investment income and could include return of capital, which can impact the fund's NAV over time.

The fixed monthly distribution of $0.0954 per share for Q4 2024 offers predictability for income-focused investors. This strategy can be appealing in volatile markets, but it's important to monitor the fund's ability to sustain this payout without eroding its asset base. The Board's flexibility to amend or terminate the plan introduces an element of uncertainty that investors should consider.

While the distribution plan aims to provide steady income, investors should focus on the fund's total return, including both distributions and potential NAV changes, to assess its overall performance. The year-end additional distribution possibility adds a potential upside but shouldn't be heavily relied upon in investment decisions.

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 2024, based on the net asset value of $14.31 of the Fund’s common shares as of December 31, 2023.

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

Month		Amount		Record Date		Payable Date
October		$0.0954		October 22, 2024		October 31, 2024
November		$0.0954		November 19, 2024		November 29, 2024
December		$0.0954		December 17, 2024		December 31, 2024

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/20240926928405/en/

Thomas Antonucci, Bulldog Investors LLP (1-201-566-0092)

Source: Special Opportunities Fund, Inc.

FAQ

What is the monthly distribution amount for Special Opportunities Fund (SPE) in Q4 2024?

The monthly distribution amount for Special Opportunities Fund (SPE) in Q4 2024 is $0.0954 per share.

What is the annual distribution rate for Special Opportunities Fund (SPE) in 2024?

The annual distribution rate for Special Opportunities Fund (SPE) in 2024 is 8% (or 0.6667% per month) based on the net asset value of $14.31 as of December 31, 2023.

When are the record and payable dates for SPE's October 2024 distribution?

For SPE's October 2024 distribution, the record date is October 22, 2024, and the payable date is October 31, 2024.

Can the Special Opportunities Fund (SPE) change its managed distribution plan?

Yes, the Board of Directors may amend the terms of the managed distribution plan or terminate it at any time without prior notice to stockholders.