RIVERNORTH OPPORTUNITIES FUND, INC. Announces Preferred Dividend
RiverNorth Opportunities Fund has declared a preferred dividend of $0.3750 per share for its 6.00% Series A Perpetual Preferred Stock (symbol: RIVPRA) for Q3 2022. Key dates include the Ex Date on August 1, 2022, Record Date on August 2, 2022, and Payable Date on August 15, 2022. This distribution is governed by the Fund's liquidation preference of $25.00 per share, though it carries inherent risks, including variability in net asset value and market conditions affecting returns.
- Declaration of a preferred dividend of $0.3750 per share for RIVPRA confirms financial stability and commitment to shareholder returns.
- Scheduled payments enhance investor confidence with clear distribution dates.
- Investment in the Fund carries risks, including potential losses and variability in net asset value due to market conditions.
- Distributions may consist of sources other than net income, which might affect perceived stability.
DENVER, July 20, 2022 /PRNewswire/ -- RiverNorth Opportunities Fund, Inc. is pleased to announce the declaration of a preferred dividend for the third quarter of 2022, as detailed below.
Ex Date | Record Date | Payable Date |
August 1, 2022 | August 2, 2022 | August 15, 2022 |
Preferred Stock Series | NYSE | Distribution Per Share |
RIVPRA |
RISKS
This press release is not for tax reporting purposes but is being provided to announce the amount of the Fund's distributions. In early 2023, after definitive information is available, the Fund will send shareholders a Form 1099-DIV, if applicable, specifying how the distributions paid by the Fund during the prior calendar year should be characterized for purposes of reporting the distributions on a shareholder's tax return (e.g., ordinary income, long-term capital gain or return of capital). An investment in the Fund is not appropriate for all investors and is not intended to be a complete investment program. The Fund is designed as a long-term investment and not as a trading vehicle.
Investing in the Fund involves risks, including the risk that you may receive little or no return on your investment or that you may lose part or even all of your investment. The Fund's net asset value will vary and its distribution rate may vary and both may be affected by numerous factors, including changes in the market spread over a specified benchmark, market interest rates and performance of the broader equity markets. Fluctuations in net asset value may be magnified as a result of the Fund's use of leverage. Therefore, before investing you should carefully consider the risks that you assume when you invest in the Fund's common shares.
The Fund's investment objectives and policies are not designed to seek to return the initial investment to investors that purchase shares.
The distribution was calculated based on the preferred shares Liquidation Preference of
A portion of the distribution may be treated as paid from sources other than net income, including but not limited to short‐term capital gain, long‐term capital gain and return of capital. The final determination of the source of all distributions, including the percentage of qualified dividend income, is made after year‐end.
Past performance is no guarantee of future results.
An investor should consider the Fund's investment objectives, risks, charges and expenses carefully before investing. To obtain an annual report or semi-annual report which contains this and other information, visit www.rivernorthcef.com or call 855.830.1222. Please read them carefully before investing.
NOT FDIC INSURED | May Lose Value | No Bank Guarantee
The Fund is a closed-end fund and does not continuously issue shares for sale as open-end mutual funds do. Since the initial public offering, the Fund now trades in the secondary market. Investors wishing to buy or sell shares need to place orders through an intermediary or broker. The share price of a closed-end fund is based on the market's value.
ALPS Advisors, Inc. is the investment adviser to the Fund.
RiverNorth Capital Management, LLC is the investment sub-adviser to the Fund. RiverNorth Capital Management, LLC is not affiliated with ALPS Advisors, Inc. or any of its affiliates.
ALPS Portfolio Solutions Distributor, Inc. is the FINRA Member firm.
SS&C Technologies
SS&C is a global provider of services and software for the financial services and healthcare industries. Founded in 1986, SS&C is headquartered in Windsor, Connecticut, and has offices around the world. Some 18,000 financial services and healthcare organizations, from the world's largest companies to small and mid-market firms, rely on SS&C for expertise, scale, and technology. Additional information about SS&C (Nasdaq: SSNC) is available at www.ssctech.com.
About SS&C ALPS Advisors
ALPS Advisors, Inc., a wholly-owned subsidiary of SS&C Technologies, Inc., is a leading provider of investment products for advisors and institutions. With over
RiverNorth Capital Management, LLC
RiverNorth is an investment management firm founded in 2000 that specializes in opportunistic strategies in niche markets where the potential to exploit inefficiencies is greatest. RiverNorth is the manager to multiple registered and private funds.
*Registered Representative of ALPS Distributors, Inc.
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SOURCE RiverNorth Opportunities Fund, Inc
FAQ
What is the preferred dividend declared by RiverNorth Opportunities Fund for Q3 2022?
What are the important dates for the preferred dividend payment?
What risks are associated with investing in RiverNorth Opportunities Fund?
How is the distribution for the preferred stock characterized for tax purposes?
