CHICAGO, October 20, 2021--(BUSINESS WIRE)--RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. and RiverNorth Specialty Finance Corporation are each pleased to announce the declaration of preferred dividends for the fourth quarter of 2021, as detailed below.
The Board of Directors of RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. has declared a quarterly cash dividend of $0.27344 per share of the Fund’s 4.375% Series A Cumulative Preferred Stock (NYSE: OPPPRA).
The Board of Directors of RiverNorth Specialty Finance Corporation has declared a quarterly cash dividend of $0.36719 per share of the Fund’s 5.875% Series A Term Preferred Stock (NYSE: RMPL).
The following dates apply to each dividend declared:
October 29, 2021
November 1, 2021
November 15, 2021
RiverNorth Capital Management, LLC is an investment management firm founded in 2000. With $5.5 billion1 in assets under management as of September 30, 2021, 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 $0.27344 for RiverNorth/DoubleLine Strategic Opportunity Fund, Inc.’s 4.375% Series A Cumulative Preferred Stock, and $0.36719 for RiverNorth Specialty Finance Corporation’s 5.875% Series A Term 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.
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.
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Chris Lakumb, CFA, CAIA