Special Opportunities Fund Establishes Monthly Distributions
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©Reuters. NEW YORK – Special Opportunities Fund Company diversified closed-end investment company SPE (NYSE: SPE) announced a managed distribution plan for the first quarter of 2024, which includes monthly distributions to common stockholders at an annual rate of 8%. Allocations are based on the net asset value (NAV) of the Fund’s common stock as of December 31, 2023, which was reported at $14.31.
The Fund’s Board of Directors has declared the following monthly distributions: $0.0954 per share for January, with a record date of January 22, 2024, and payment due date of January 31, 2024; and the same amount for February, with a confirmation date of February 2024 March 20, and is payable by February 29, 2024; again, March is $0.0954, recorded on March 20, 2024, and is payable by March 29, 2024.
If the Fund’s monthly investment income is insufficient, distributions may include long-term capital gains and/or returns of capital. The Fund may also make additional year-end distributions if net investment income and realized capital gains exceed total planned distributions for the year.
This announcement is based on a press release from Special Opportunities Funds.
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