Special Opportunities Fund Declares Distributions For Third Quarter of 2024

Rhea-AI Summary

Special Opportunities Fund (NYSE: SPE) has declared three monthly distributions for Q3 2024 under its managed distribution plan. The fund aims to distribute at an 8% annual rate (0.6667% monthly), based on its net asset value of $14.31 as of December 31, 2023. The distributions are set at $0.0954 per share for July, August, and September, with respective record and payable dates. In the absence of sufficient investment income, the fund will distribute long-term capital gains or return of capital. Additional year-end distributions may occur if net investment income and realized gains exceed the planned distributions. The Board retains the right to amend or terminate the plan, potentially impacting the market price of the shares. Stockholders will receive a notice estimating the composition of each distribution, with actual compositions detailed in a year-end Form 1099-DIV.

Positive

• Declared monthly distributions for Q3 2024 at an annual rate of 8%.
• Distributions based on a net asset value of $14.31 per share.
• Potential for additional year-end distributions if net investment income and realized gains exceed planned distributions.

Negative

• Board may amend or terminate the managed distribution plan without prior notice, which could negatively affect the market price of the Fund’s shares.

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
July	$0.0954	July 17, 2024	July 31, 2024
August	$0.0954	August 21, 2024	August 30, 2024
September	$0.0954	September 18, 2024	September 30, 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/20240701492283/en/

Tom Antonucci

(201) 556-0092

Source: Special Opportunities Fund, Inc.

FAQ

What is the distribution rate for Special Opportunities Fund (SPE) in Q3 2024?

The distribution rate for Q3 2024 is $0.0954 per share for each month.

When are the record dates for SPE's Q3 2024 distributions?

The record dates are July 17, August 21, and September 18, 2024.

What is the annual distribution rate for SPE in 2024?

The annual distribution rate for 2024 is 8%, or 0.6667% per month.

How is the distribution rate for SPE calculated?

It is based on the net asset value of $14.31 per share as of December 31, 2023.

Can the managed distribution plan for SPE be amended or terminated?

Yes, the Board may amend or terminate the plan at any time without prior notice.

What happens if SPE's investment income is insufficient for distributions?

The fund will distribute long-term capital gains and/or return of capital.

Will SPE provide a breakdown of the distribution composition?

Yes, stockholders will receive an estimate of the distribution composition, with actual details provided in a year-end Form 1099-DIV.