Special Opportunities Fund : Declares Distributions For Second Quarter of 2021 – April 1, 2021 (PDF)
April 01, 2021 at 11:00 am EDT
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Special Opportunities Fund Declares Distributions For Second Quarter of 2021
New York, April 1, 2021-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 7% (or 0.5833% per month) for 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
April
$0.094
April 21, 2021
April 30, 2021
May
$0.094
May 19, 2021
May 28, 2021
June
$0.094
June 21, 2021
June 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.
The conversion price for each share of the Fund's convertible preferred stock will decrease by the amount of each distribution to common stockholders. The current conversion ratio as well as other information about the Fund will be available on the Fund's website at www.specialopportunitiesfundinc.com.
CONTACT: U.S. Bank Global Fund Services - John Buckel (414) 765-4255
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Special Opportunities Fund Inc. published this content on 01 April 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 01 April 2021 14:59:02 UTC.
Special Opportunities Fund, Inc. (the Fund) is a diversified, closed-end management investment company. The Fund's investment objective is total return. The Fund invests primarily in securities, which have the opportunity for appreciation. The Fund may employ strategies designed to capture price movements generated by anticipated corporate events, such as investing in companies involved in special situations, including, but not limited to, mergers, acquisitions, asset sales, spin-offs, balance sheet restructuring, bankruptcy, liquidations, and tender offers. The Fund may, from time to time, engage in short sales of securities for investment or for hedging purposes. The Fund invests in closed-end funds, business development companies, preferred stocks, other common stocks, special purpose acquisition vehicles, corporate obligations, money market funds, warrants and rights, among others. Bulldog Investors, LLP is the investment adviser of the Fund.