Special Opportunities Fund Declares Distributions For Third Quarter of 2021

Rhea-AI Summary

Special Opportunities Fund (NYSE: SPE) has declared its next three monthly dividends under its managed distribution plan, maintaining an annual rate of 8% based on a net asset value of $16.13 as of December 31, 2020. The planned dividends are $0.1075 for July, August, and September 2021, with respective record dates of July 21, August 20, and September 21, and payable dates of July 30, August 31, and September 30, 2021. The Fund may distribute long-term capital gains or return of capital if investment income is insufficient.

Positive

• Monthly dividends set at an annual rate of 8%, contributing to consistent shareholder returns.
• Establishment of clear monthly dividend amounts helps in financial planning for investors.

Negative

• The Fund may need to rely on long-term capital gains or return of capital if sufficient investment income is unavailable, indicating potential income instability.
• The Board reserves the right to amend or terminate the distribution plan without prior notice, which could negatively impact share price.

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 8% (or 0.6667% per month) for the second half of 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
July		$0.1075		July 21, 2021		July 30, 2021
August		$0.1075		August 20, 2021		August 31, 2021
September		$0.1075		September 21, 2021		September 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210707005597/en/

FAQ

What are the next dividend amounts declared by Special Opportunities Fund (SPE)?

The next three monthly dividends are $0.1075 each for July, August, and September 2021.

What is the record date for the July dividend of SPE?

The record date for the July dividend is July 21, 2021.

When will the July 2021 dividend for SPE be payable?

The July 2021 dividend will be payable on July 30, 2021.

What annual rate is Special Opportunities Fund (SPE) maintaining for dividends in 2021?

Special Opportunities Fund is maintaining an annual rate of 8% for dividends.

How does the managed distribution plan of SPE work?

Under the managed distribution plan, SPE distributes dividends monthly, and if investment income is insufficient, it may distribute long-term capital gains or return of capital.