Special Opportunities Fund Declares Distributions For Second Quarter of 2021

Rhea-AI Summary

Special Opportunities Fund, Inc. (NYSE: SPE) has declared its next three monthly dividends under the managed distribution plan. The Fund plans to distribute at an annual rate of 7%, equating to 0.5833% per month, based on a net asset value of $16.13 as of December 31, 2020. The dividends for April, May, and June 2021 are set at $0.094 each, with record dates of April 21, May 19, and June 21, and payable dates of April 30, May 28, and June 30, respectively. The Board may amend or terminate the distribution plan, potentially impacting market prices.

Positive

• Monthly dividends set at an annual rate of 7%, providing consistent returns to shareholders.
• Specified dividend payments provide clarity for investors regarding income expectations.

Negative

• The Board can amend or terminate the managed distribution plan at any time, which may negatively affect share prices.
• Distributions may include long-term capital gains or return of capital if investment income is insufficient.

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
April		$0.094		April 21, 2021		April 30, 2021
May		$0.094		May 19, 2021		May 28, 2021
June		$0.094		June 21, 2021		June 30, 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/20210401005537/en/

FAQ

What are the recent dividend declarations for Special Opportunities Fund (SPE)?

The Fund declared dividends of $0.094 for April, May, and June 2021 under its managed distribution plan.

When are the payable dates for the declared dividends of SPE?

The payable dates for the declared dividends are April 30, May 28, and June 30, 2021.

What is the annual distribution rate for SPE in 2021?

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

What is the net asset value of SPE as of December 31, 2020?

The net asset value of SPE was $16.13 as of December 31, 2020.