StockNews.AI
OPP
StockNews.AI
15 hrs

RiverNorth Opportunities Fund, Inc. and RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. Announce Preferred Dividends

1. RiverNorth Opportunities Fund declares 4th quarter preferred dividend. 2. Dividend of $0.37500 for Series A Perpetual Preferred Stock. 3. Dividends may come from capital gains or return of capital. 4. Total AUM reaches $5.2 billion as of September 30, 2024.

5 mins saved
Full Article

FAQ

Why Bullish?

The declared dividend may attract investors. Positive dividends often indicate financial health.

How important is it?

Dividends influence stock attractiveness, enhancing OPP's profile among investors.

Why Short Term?

Initial response to dividends typically impacts stock prices soon after announcements.

Related Companies

OPPPRAOPPPRBRIVPRA
WEST PALM BEACH, Fla.--(BUSINESS WIRE)--RiverNorth Opportunities Fund, Inc. and RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. are each pleased to announce the declaration of preferred dividends for the 4th quarter of 2024, as detailed below. Ex Date Record Date Payable Date November 1, 2024 November 1, 2024 November 15, 2024 Fund Name Preferred Stock Series NYSE Distribution Per Share RiverNorth Opportunities Fund, Inc. 6.000% Series A Perpetual Preferred Stock RIVPRA $0.37500 RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. 4.375% Series A Cumulative Preferred Stock OPPPRA $0.27344 RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. 4.750% Series B Cumulative Preferred Stock OPPPRB $0.29688 RiverNorth Capital Management, LLC is an investment management firm founded in 2000. With $5.2 billion1 in assets under management as of September 30, 2024, RiverNorth specializes in opportunistic investment strategies in niche markets where the potential to exploit inefficiencies is greatest. RiverNorth is an institutional investment manager to registered funds, private funds and separately managed accounts. The distributions were calculated based on the preferred shares Liquidation Preference of $25.00 per share and most current quarterly distribution rate per share of $0.37500 for the RiverNorth Opportunities Fund, Inc.’s 6.00% Series A Perpetual Preferred Stock, $0.27344 for the RiverNorth/DoubleLine Strategic Opportunity Fund, Inc.’s 4.375% Series A Cumulative Preferred Stock, and $0.29688 for RiverNorth/DoubleLine Strategic Opportunity Fund, Inc.’s 4.75% Series B Cumulative Preferred Stock, respectively. Distributions may be paid from sources of income other than ordinary income, such as net realized short-term capital gains, net realized long-term capital gains and return of capital. The actual amounts and sources of the amounts for tax reporting purposes will depend upon each Fund’s investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. If a distribution includes anything other than net investment income, the Fund provides a Section 19(a) notice of the best estimate of its distribution sources at that time. These estimates may not match the final tax characterization (for the full year’s distributions) contained in shareholders’ 1099-DIV forms after the end of the year. This data is for information only and should not be construed as an official tax form, nor should it be considered tax or investment advice. RiverNorth is not a tax advisor and investors should consult a tax professional for guidance regarding their specific tax situation. Please consult your legal or tax advisor. Investors should consider the Fund's investment objective, risks, charges, and expenses carefully before investing. The prospectus should be read carefully before investing. For more information, please read the prospectus, call your financial professional or call 844.569.4750. Investing in the Fund involves certain risks, including loss of principal, that are described in the "Risks" section of each Prospectus. Marketing services provided by ALPS Distributors Inc. ALPS and RiverNorth are not affiliated. 1 Firm AUM reflects Managed Assets which includes the effects of leverage and investments in affiliated funds. RiverNorth® is a registered trademark of RiverNorth Capital Management, LLC. DoubleLine® is a registered trademark of DoubleLine Capital LP. ©2000-2024 RiverNorth Capital Management, LLC. All rights reserved. OPP000139

Related News