Several RiverNorth Closed-End Funds have announced the
declaration of monthly distributions for January, February and
March 2021 in accordance with each Fund’s level distribution
policy, as detailed below. The following dates apply to the monthly
distribution declarations for the tax-exempt and taxable closed-end
funds:
Ex Date
Record Date
Payable Date
January 14, 2021
January 15, 2021
January 29, 2021
February 10, 2021
February 11, 2021
February 26, 2021
March 16, 2021
March 17, 2021
March 31, 2021
Tax-Exempt Distributions1
Ticker
Fund Name
Distribution Per Share
RMI1
RiverNorth Opportunistic
Municipal Income Fund, Inc.
$0.0917
In accordance with the Fund’s level distribution policy, the
annual distribution rate has been set equal to 5.50% of the Fund’s
initial public offering price of $20.00 per share. Based on the
Fund’s net asset value (NAV) per share of $23.52 and market price
per share of $21.47 as of market close December 31, 2020, the
distributions represent an annualized distribution rate of 4.68%
and 5.13%, respectively.
Ticker
Fund Name
Distribution Per Share
RMM1
RiverNorth Managed Duration
Municipal Income Fund, Inc.
$0.0917
In accordance with the Fund’s level distribution policy, the
annual distribution rate has been set equal to 5.50% of the Fund’s
initial public offering price of $20.00 per share. Based on the
Fund’s NAV per share of $19.58 and market price per share of $17.80
as of market close December 31, 2020, the distributions represent
an annualized distribution rate of 5.62% and 6.18%,
respectively.
Ticker
Fund Name
Distribution Per Share
RFM1
RiverNorth Flexible Municipal Income Fund,
Inc.
$0.1042
In accordance with the Fund’s level distribution policy, the
annual distribution rate has been set equal to 6.25% of the Fund’s
initial public offering price of $20.00 per share. Based on the
Fund’s NAV per share of $23.50 and market price per share of $21.85
as of market close December 31, 2020, the distributions represent
an annualized distribution rate of 5.32% and 5.72%,
respectively.
Taxable Distributions
Ticker
Fund Name
Distribution Per Share
OPP
RiverNorth/DoubleLine Strategic
Opportunity Fund, Inc.
$0.1586
Pursuant to the Fund’s level distribution policy, the annual
distribution rate has been reset to 12.50% of the average of the
Fund’s NAV per common share reported the final five trading days of
the 2020 calendar year, equal to $0.1586 per month. Based on the
Fund’s NAV per common share of $15.25 and market price per common
share of $14.32 as of market close December 31, 2020, the
distributions represent an annualized distribution rate of 12.48%
and 13.29%, respectively.
Ticker
Fund Name
Distribution Per Share
RSF
RiverNorth Specialty Finance
Corporation
$0.1523
The Fund announced an amendment to its level distribution policy
such that it intends to make monthly distributions to shareholders
at an annual rate equal to 10.00% of the Fund’s NAV per common
share as of the final trading day of the preceding calendar year.
Previously, the final trading day of the Fund’s preceding fiscal
year (June 30) was used to determine its annual distribution rate.
The change was made to better align the annual reset of the Fund’s
distribution rate with other RiverNorth Closed-End Funds.
Accordingly, pursuant to the Fund’s level distribution policy,
the annual distribution rate has been reset to 10.00% of the Fund’s
NAV per common share as of the final trading day of the 2020
calendar year, equal to $0.1523 per month. Based on the Fund’s NAV
per common share of $18.28 and market price per common share of
$16.59 as of market close December 31, 2020, the distributions
represent an annualized distribution rate of 10.00% and 11.02%,
respectively.
___________________________________________________________________________________
- Monthly distributions from RMI, RMM and RFM are generally
exempt from regular U.S. federal income taxes, but may be subject
to the federal alternative minimum tax (AMT) for some shareholders.
RiverNorth does not provide tax advice; consult a professional tax
advisor regarding your specific tax situation. Income may be
subject to state and local taxes as well as the AMT.
With each distribution that does not consist solely of net
investment income, the respective Fund will issue a notice to
shareholders and an accompanying press release that will provide
detailed information regarding the amount and composition of the
distribution and other related information. The amounts and sources
of distributions reported in the notice to shareholders are only
estimates and are not being provided for tax reporting purposes.
The actual amounts and sources of the amounts for tax reporting
purposes will depend upon the Fund’s investment experience during
its full fiscal year and may be subject to changes based on tax
regulations. Each Fund will send shareholders a Form 1099-DIV for
the calendar year that will tell them how to report these
distributions for federal income tax purposes.
Each Fund may at times distribute more than its net investment
income and net realized capital gains; therefore, a portion of the
distribution may result in a return of capital. A return of capital
occurs when some or all of the money that shareholders invested in
the Fund is paid back to them. A return of capital does not
necessarily reflect the Fund’s investment performance and should
not be confused with ‘yield’ or ‘income.’ Any such returns of
capital will decrease the Fund’s total assets and, therefore, could
have the effect of increasing the Fund’s expense ratio. In
addition, in order to make the level of distributions called for
under its plan, the Fund may have to sell its portfolio securities
at a less than opportune time.
About RiverNorth
RiverNorth Capital Management, LLC is an investment management
firm founded in 2000. With $4.3 billion2 in assets under management
as of November 30, 2020, 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.
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. When preparing your tax return, please refer to your
Form 1099-DIV and consult your legal or tax advisor.
A portion of the distribution may be treated as paid from
sources other than net income, including but not limited to
short‐term capital gain, long‐term capital gain and return of
capital.
Past performance is no guarantee of future results.
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.
The Funds referenced above are closed-end funds, and closed-end
funds do not continuously issue shares for sale as open-end mutual
funds do. Since the initial public offering periods have closed,
each Fund now trades in the secondary market. Investors wishing to
buy or sell shares need to place orders through an intermediary or
broker. The share price of a closed-end fund is based on the
market's value.
Shares of closed-end investment companies frequently trade at a
discount to their net asset value and initial offering price. The
risk of loss due to this discount may be greater for initial
investors expecting to sell their shares in a relatively short
period after completion of the initial public offering.
Investments in the Funds are not appropriate for all investors
and are not intended to be complete investment programs. The Funds
are designed as a long-term investments and not as a trading
vehicles.
Risk is inherent in all investing. Investing in any investment
company security involves risk, including the risk that you may
receive little or no return on your investment or even that you may
lose part or all of your investment. Therefore, before investing in
the common shares of a Fund, you should consider the risks as well
as the other information in each Fund’s prospectus.
2 Firm AUM reflects Managed Assets which includes the effects of
leverage and investments in affiliated funds.
Not FDIC Insured | May Lose Value | No Bank Guarantee
ALPS Distributors, Inc. is the FINRA Member Firm. RiverNorth® is
a registered trademark of RiverNorth Capital Management, LLC.
DoubleLine® is a registered trademark of DoubleLine Capital LP.
©2000-2021 RiverNorth Capital Management, LLC. All rights reserved.
RMI000185
View source
version on businesswire.com: https://www.businesswire.com/news/home/20210104005753/en/
Investor Contact Chris Lakumb, CFA, CAIA 312.445.2336
clakumb@rivernorth.com
RiverNorth Opportunistic... (NYSE:RMI)
Graphique Historique de l'Action
De Jan 2025 à Fév 2025
RiverNorth Opportunistic... (NYSE:RMI)
Graphique Historique de l'Action
De Fév 2024 à Fév 2025
