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, Inc. (NYSE: SPE) has announced a quarterly cash dividend for its 3.50% Convertible Preferred Stock, Series B. The dividend amounts to $0.21875 per share and is set to be paid on March 31, 2021. This payment will be distributed to shareholders who are on record as of March 22, 2021.
Special Opportunities Fund (NYSE: SPE) announced the declaration of three monthly dividends as part of its managed distribution plan. The monthly distribution rate is set at an annual rate of 7%, amounting to $0.094 per share for January, February, and March 2021, based on a net asset value of $16.13. The record and payable dates for these dividends are specified for each month. The Fund may adjust its managed distribution plan based on investment income availability, and shareholders will receive tax composition details via Form 1099-DIV.
Special Opportunities Fund, Inc. (NYSE: SPE) has declared a quarterly cash dividend of $0.21875 per share on its 3.50% Convertible Preferred Stock, Series B. This dividend will be payable on December 31, 2020 to shareholders on record by December 21, 2020. This announcement underscores the Fund's commitment to providing returns to its investors.
Special Opportunities Fund, Inc. (NYSE: SPE) has scheduled its Annual Meeting of Stockholders for December 17, 2020, at 10:30 a.m. ET, to be held at the offices of Bulldog Investors in Saddle Brook, NJ. Stockholders must register in advance by December 10, 2020, and comply with COVID-19 protocols to attend in person. For those unable to attend, arrangements can be made to ask questions by phone. Further information about the Fund can be found on its website.
Special Opportunities Fund has declared its next three monthly dividends under its managed distribution plan. The Fund will distribute dividends at an annual rate of 7%, equating to 0.5833% per month, based on a net asset value of $16.06 as of December 31, 2019. Upcoming dividends are $0.094 for October, November, and December 2020, with record dates of October 16, November 17, and December 21, respectively, and payable dates of October 30, November 30, and December 31, 2020. The Board may amend or terminate the distribution plan at any time, impacting the market price of common shares.