Special Opportunities Fund Declares Distributions For Second Quarter of 2022

Rhea-AI Summary

Special Opportunities Fund (NYSE: SPE) has declared three monthly distributions under its managed distribution plan, totaling $0.33 per share at an annual rate of 8%, based on a net asset value of $16.55 as of December 31, 2021. The distributions are scheduled for April, May, and June 2022, with record dates on April 20, May 19, and June 21, and payable dates on April 29, May 31, and June 30, respectively. The plan may involve capital gains and return of capital if investment income is insufficient, and the Fund's Board retains the right to amend or terminate the plan without notice.

Positive

• Monthly distributions of $0.11 for three consecutive months, totaling $0.33.
• Annual rate of distribution set at 8%, attracting income-focused investors.

Negative

• The Fund may distribute return of capital if sufficient investment income is not available.
• The Board can amend or terminate the distribution plan at any time, 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 2022, based on the net asset value of $16.55 of the Fund’s common shares as of December 31, 2021.

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

Month		Rate		Record Date		Payable Date
April		$0.11		April 20, 2022		April 29, 2022
May		$0.11		May 19, 2022		May 31, 2022
June		$0.11		June 21, 2022		June 30, 2022

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/20220405005840/en/

U.S. Bank Global Fund Services – John Buckel (414) 765-4255

Source: Special Opportunities Fund, Inc.

FAQ

What are the upcoming distribution details for Special Opportunities Fund (SPE)?

Special Opportunities Fund (SPE) has announced distributions of $0.11 per share for April, May, and June 2022.

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

The annual distribution rate for Special Opportunities Fund (SPE) is set at 8%.

When are the record dates for the upcoming distributions of SPE?

The record dates are April 20, May 19, and June 21, 2022.

When will the distributions be payable for SPE?

The payable dates for the distributions are April 29, May 31, and June 30, 2022.

What is the net asset value of SPE as of December 31, 2021?

The net asset value of Special Opportunities Fund (SPE) as of December 31, 2021, is $16.55.