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WEST PALM BEACH, Fla., July 19, 2024--(BUSINESS WIRE)--RiverNorth Opportunities Fund, Inc., RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. and RiverNorth Capital and Income Fund, Inc. are each pleased to announce the declaration of preferred dividends for the third quarter of 2024, as detailed below.
| Ex Date | Record Date | Payable Date |
| August 1, 2024 | August 1, 2024 | August 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 | 4.375% Series A Cumulative Preferred Stock | OPPPRA | $0.27344 |
| RiverNorth/DoubleLine Strategic | 4.750% Series B Cumulative Preferred Stock | OPPPRB | $0.29688 |
| RiverNorth Capital and Income Fund, Inc. | 5.875% Series A Term Preferred Stock | RMPL | $0.36719 |
RiverNorth Capital Management, LLC is an investment management firm founded in 2000. With $5.0 billion1 in assets under management as of June 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, $0.29688 for RiverNorth/DoubleLine Strategic Opportunity Fund, Inc.’s 4.75% Series B Cumulative Preferred Stock, and $0.36719 for the RiverNorth Capital and Income Fund, Inc.’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.