Special Opportunities Fund Declares Distributions For Second Quarter of 2023

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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.

Metadata
Provider: 
Business Wire, Inc.Business Wire, Inc.
Retrieved on: 
Friday, March 24, 2023
Information
Tags: 
Banking, Professional Services, Finance, Fund, Life insurance
Geotags: 
NEW YORK, UNITED STATES, NORTH AMERICA
⚠ partially generated by AI ↴
Organisation: 
SPECIAL OPPORTUNITIES FUND, SPECIAL OPPORTUNITIES FUND, INC.
Stock Symbol: 
NYSE:SPE
Summary
Key Points: 
  • 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 Fund will issue a notice to common stockholders that will provide an estimate of the composition of each distribution.


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 2023, based on the net asset value of $13.01 of the Fund’s common shares as of December 31, 2022.

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

Month

Rate

Record Date

Payable Date

April

$0.0867

April 19, 2023

April 28, 2023

May

$0.0867

May 19, 2023

May 31, 2023

June

$0.0867

June 21, 2023

June 30, 2023

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.

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