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RiverNorth Capital and Income Fund, Inc. (NYSE: RSF) has announced an update to its previously disclosed plan to redeem all 1,656,000 outstanding shares of its 5.875% Series A Term Preferred Stock (NYSE: RMPL). The redemption date has been moved to October 31, 2024, from the initially anticipated date of October 4, 2024.
The redemption price is estimated at $25.31 per share, which includes the $25.00 liquidation preference plus $0.31 in estimated accrued and unpaid dividends. Following the redemption, the Series A Preferred Stock will cease to be outstanding, and all associated rights and dividend accumulations will end.
The Fund, with approximately $113 million in total managed assets as of August 31, 2024, aims to provide a high level of current income. RiverNorth Capital Management, , the Fund's investment manager, specializes in opportunistic investment strategies and manages $5.1 billion in assets as of the same date.
RiverNorth Capital and Income Fund, Inc. (NYSE: RSF) has announced the redemption of all 1,656,000 outstanding shares of its 5.875% Series A Term Preferred Stock (NYSE: RMPL). The anticipated redemption date is October 4, 2024, with a possible extension to October 31, 2024. The redemption price is estimated at $25.20 per share, including accrued dividends. Following the redemption, the Series A Preferred Stock will be delisted from the NYSE. As of July 31, 2024, RSF had approximately $113 million in total managed assets and 3.9 million shares of common stock outstanding. RiverNorth Capital Management, , the fund's investment manager, had $5.1 billion in assets under management as of the same date.
RiverNorth Opportunities Fund, RiverNorth/DoubleLine Strategic Opportunity Fund, and RiverNorth Capital and Income Fund have declared preferred dividends for Q3 2024. The ex-date, record date, and payable date are set for August 1, August 1, and August 15, 2024, respectively. Dividend rates range from 4.375% to 6.000% depending on the fund and series. RiverNorth Capital Management, with $5.0 billion in assets under management as of June 30, 2024, specializes in opportunistic investment strategies in niche markets. The distributions are based on a $25.00 per share liquidation preference. Investors are advised to consult the prospectus and tax professionals for guidance.
RiverNorth Opportunities Fund, Inc. and associated funds announced preferred dividends for Q2 2023. Key dates include the Ex Date on May 1, Record Date on May 2, and Payable Date on May 15. The preferred dividends are as follows: RiverNorth Opportunities Fund, Inc. - $0.37500 for Series A Perpetual Preferred Stock (RIVPRA), RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. - $0.27344 for Series A Cumulative Preferred Stock (OPPPRA) and $0.29688 for Series B Cumulative Preferred Stock (OPPPRB), and RiverNorth Capital and Income Fund, Inc. - $0.36719 for Series A Term Preferred Stock (RMPL). These distributions are based on a Liquidation Preference of $25.00 per share and may originate from various income sources, emphasizing the investment firm’s strategies in niche markets.
RiverNorth Opportunities Fund, Inc. and its associated funds have announced preferred dividends for the first quarter of 2023. The dividends include:
- RIVPRA: $0.37500 (6.000% Series A Perpetual Preferred Stock)
- OPPPRA: $0.27344 (4.375% Series A Cumulative Preferred Stock)
- OPPPRB: $0.29688 (4.750% Series B Cumulative Preferred Stock)
- RMPL: $0.36719 (5.875% Series A Term Preferred Stock)
The ex-date for these dividends is February 1, 2023, with a payable date of February 15, 2023. The distributions may come from various income sources, not limited to ordinary income.
RiverNorth Specialty Finance Corporation (NYSE:RSF) announced a name change to RiverNorth Capital and Income Fund effective December 7, 2022. The fund's investment strategy will remain unchanged, and its common shares will continue to trade under the symbol RSF, while preferred shares will trade under RMPL. As of October 31, 2022, RiverNorth managed approximately $4.9 billion in assets, focusing on opportunistic investments in niche markets. Investors are urged to review the fund's prospectus for details on risks and investment objectives.
RiverNorth Opportunities Fund, Inc. (NYSE:OPP), RiverNorth/DoubleLine Strategic Opportunity Fund, Inc., and RiverNorth Specialty Finance Corporation have declared preferred dividends for Q4 2022. Key details include:
- Ex Date: November 1, 2022
- Record Date: November 2, 2022
- Payable Date: November 15, 2022
The dividends announced are $0.37500 for RIVPRA, $0.27344 for OPPPRA, $0.29688 for OPPPRB, and $0.36719 for RMPL, reflecting ongoing financial health and income generation for shareholders.
