Special Opportunities Fund Declares Distributions For Second Quarter of 2023

Rhea-AI Summary

Special Opportunities Fund, Inc. (NYSE: SPE) has announced its next three monthly distributions under its managed distribution plan, targeting an annual rate of 8% (0.6667% monthly). As of December 31, 2022, the net asset value per share was $13.01. The declared distributions are $0.0867 for April, May, and June 2023, with record dates on April 19, May 19, and June 21, respectively, and payable dates on April 28, May 31, and June 30, 2023. The Fund may adjust distributions based on investment income and will provide tax reporting post-year-end.

Positive

• Declared monthly distributions at an annual rate of 8%, enhancing shareholder returns.
• Sustained monthly distribution amount of $0.0867 for three consecutive months.

Negative

• Dependence on long-term capital gains and return of capital for distributions may indicate insufficient income.
• The Board can amend or terminate the distribution plan without prior 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
April		$0.0867		April 19, 2023		April 28, 2023
May		$0.0867		May 19, 2023		May 31, 2023
June		$0.0867		June 21, 2023		June 30, 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/20230324005295/en/

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

Source: Special Opportunities Fund, Inc.

FAQ

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

The monthly distribution rate is 0.6667%, equating to an annual rate of 8%.

When are the next distributions for SPE scheduled?

The next distributions are scheduled for April 28, May 31, and June 30, 2023.

What is the net asset value of SPE shares as of December 31, 2022?

The net asset value of SPE shares was $13.01 as of December 31, 2022.

Can the Board of SPE alter the distribution plan at any time?

Yes, the Board can amend or terminate the managed distribution plan without prior notice.