Welcome to our dedicated page for Special Opportunities Fund news (Ticker: SPE), a resource for investors and traders seeking the latest updates and insights on Special Opportunities Fund stock.
Special Opportunities Fund, Inc. (NYSE: SPE) is a closed-end management investment company whose public communications provide regular updates on distributions, preferred stock dividends and corporate actions. As a diversified fund with an objective of total return, SPE issues news that is particularly relevant to income-focused investors and those following activist investment strategies in the finance and insurance sector.
A recurring theme in SPE’s news flow is the declaration of cash dividends on its 2.75% Convertible Preferred Stock, Series C. Press releases specify the dividend amount per share, the record date and the payment date, giving preferred stockholders clear information about expected income. These announcements demonstrate how the Fund manages obligations to its preferred stockholders over time.
The Fund also issues year-end distribution announcements for common stockholders. One such release described a distribution payable partly in cash and partly in newly issued common shares, subject to an overall cash limitation. The Fund explained that substantially all of that distribution was expected to consist of realized long-term capital gains and that the distribution was intended to avoid certain excise taxes. Details such as election procedures, deadlines and pricing mechanisms for stock distributions are provided in these notices.
In addition, SPE and Bulldog Investors, LLP have released news related to activist activities, including updates on a class action settlement involving FAST Acquisition Corp. and communications urging shareholders of Tejon Ranch Co. to support specific board nominees. These items highlight SPE’s willingness, under appropriate circumstances, to use litigation and proxy campaigns as tools to enhance the value of its investments.
Investors who follow SPE’s news can track dividend declarations, distribution policies and activist engagements that may affect the Fund’s portfolio and capital structure. This news page aggregates such releases, helping readers monitor how the Fund communicates with stockholders and pursues its stated strategies.
Special Opportunities Fund (NYSE: SPE) has announced a dividend declaration. The Board of Directors has approved a cash dividend of $0.171875 per share on the Fund’s 2.75% Convertible Preferred Stock, Series C. This dividend is scheduled to be paid on June 28, 2024, to shareholders recorded by June 18, 2024.
Special Opportunities Fund, Inc. (NYSE: SPE) provides an update on the settlement of a class action lawsuit against FAST Acquisition Corp., approving a $12.5 million gross cash payment to former shareholders of FAST's class A common stock as of August 25, 2022. The net settlement distribution to stockholders is expected to exceed $0.50 per share, with a distribution timeline by June 30, 2024. Stockholders in the class do not need to take action to receive the distribution.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
Summary not available.