Special Opportunities Fund Declares Distributions For Second Quarter of 2024

Rhea-AI Summary

Special Opportunities Fund, Inc. (NYSE: SPE) declares the next three monthly distributions under its managed distribution plan, targeting an annual rate of 8% for 2024. The distributions are based on the net asset value of $14.31 of the Fund's common shares as of December 31, 2023. The Fund aims to distribute $0.0954 per share in April, May, and June 2024.

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	Rate	Record Date	Payable Date
April	$0.0954	April 19, 2024	April 30, 2024
May	$0.0954	May 21, 2024	May 31, 2024
June	$0.0954	June 18, 2024	June 28, 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/20240405261457/en/

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

Source: Special Opportunities Fund, Inc.

FAQ

What is the annual distribution rate declared by Special Opportunities Fund, Inc. (NYSE: SPE) for 2024?

The annual distribution rate declared by Special Opportunities Fund, Inc. (NYSE: SPE) for 2024 is 8%.

Based on what net asset value are the distributions for Special Opportunities Fund, Inc. (NYSE: SPE) calculated?

The distributions for Special Opportunities Fund, Inc. (NYSE: SPE) are calculated based on the net asset value of $14.31 of the Fund's common shares as of December 31, 2023.

What are the amounts of the next three monthly distributions declared by Special Opportunities Fund, Inc. (NYSE: SPE)?

The next three monthly distributions declared by Special Opportunities Fund, Inc. (NYSE: SPE) are $0.0954 per share for April, May, and June 2024.

What happens if sufficient investment income is not available for the monthly distributions by Special Opportunities Fund, Inc. (NYSE: SPE)?

If sufficient investment income is not available on a monthly basis, Special Opportunities Fund, Inc. (NYSE: SPE) will distribute long-term capital gains and/or return of capital.

When will the next three monthly distributions by Special Opportunities Fund, Inc. (NYSE: SPE) be payable?

The next three monthly distributions by Special Opportunities Fund, Inc. (NYSE: SPE) will be payable on April 30, 2024, May 31, 2024, and June 28, 2024.