{"id":470180,"date":"2021-04-01T16:33:32","date_gmt":"2021-04-01T20:33:32","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=470180"},"modified":"2021-04-01T16:33:32","modified_gmt":"2021-04-01T20:33:32","slug":"rivernorth-closed-end-funds-declare-monthly-distributions","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/rivernorth-closed-end-funds-declare-monthly-distributions\/","title":{"rendered":"RiverNorth Closed-End Funds Declare Monthly Distributions"},"content":{"rendered":"

<\/p>\n

RiverNorth Closed-End Funds Declare Monthly Distributions <\/b><\/p>\n

CHICAGO–(BUSINESS WIRE<\/a>)–
\nSeveral RiverNorth closed-end funds (the \u201cFunds\u201d) have announced the declaration of monthly distributions for April, May and June 2021 in accordance with each Fund\u2019s level distribution policy, as detailed below.\n<\/p>\n\n\n\n\n\n
\n

Ex Date<\/b><\/p>\n<\/td>\n

\n

Record Date<\/b><\/p>\n<\/td>\n

\n

Payable Date<\/b><\/p>\n<\/td>\n<\/tr>\n

\n

\nApril 15, 2021\n<\/p>\n<\/td>\n

\n

\nApril 16, 2021\n<\/p>\n<\/td>\n

\n

\nApril 30, 2021\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nMay 13, 2021\n<\/p>\n<\/td>\n

\n

\nMay 14, 2021\n<\/p>\n<\/td>\n

\n

\nMay 28, 2021\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nJune 15, 2021\n<\/p>\n<\/td>\n

\n

\nJune 16, 2021\n<\/p>\n<\/td>\n

\n

\nJune 30, 2021\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n

Tax-Exempt Distributions<\/b>1<\/sup><\/p>\n\n\n\n\n\n
\n

Fund Name<\/b><\/p>\n<\/td>\n

\n

Ticker<\/b><\/p>\n<\/td>\n

\n

Distribution
\n
Per Share<\/b><\/p>\n<\/td>\n

\n

Change
\n
From Prior
\n
Distribution<\/b><\/p>\n<\/td>\n

\n

Net Asset
\n
Value (NAV)
\n
as of
\n
3\/31\/2021<\/b><\/p>\n<\/td>\n

\n

Annualized
\n
Current
\n
Distribution
\n
Rate at NAV<\/b><\/p>\n<\/td>\n

\n

Market Price
\n
as of
\n
3\/31\/2021<\/b><\/p>\n<\/td>\n

\n

Annualized
\n
Current
\n
Distribution
\n
Rate at
\n
Market<\/b><\/p>\n<\/td>\n<\/tr>\n

\n

RiverNorth Opportunistic Municipal Income Fund, Inc.1,2<\/sup><\/b><\/p>\n<\/td>\n

\n

\nRMI\n<\/p>\n<\/td>\n

\n

\n$0.0917\n<\/p>\n<\/td>\n

\n

\n\u2012\n<\/p>\n<\/td>\n

\n

\n$23.60\n<\/p>\n<\/td>\n

\n

\n4.66%\n<\/p>\n<\/td>\n

\n

\n$21.97\n<\/p>\n<\/td>\n

\n

\n5.01%\n<\/p>\n<\/td>\n<\/tr>\n

\n

RiverNorth Managed Duration Municipal Income Fund, Inc.1,3<\/sup><\/b><\/p>\n<\/td>\n

\n

\nRMM\n<\/p>\n<\/td>\n

\n

\n$0.0917\n<\/p>\n<\/td>\n

\n

\n\u2012\n<\/p>\n<\/td>\n

\n

\n$20.22\n<\/p>\n<\/td>\n

\n

\n5.44%\n<\/p>\n<\/td>\n

\n

\n$18.60\n<\/p>\n<\/td>\n

\n

\n5.92%\n<\/p>\n<\/td>\n<\/tr>\n

\n

RiverNorth Flexible Municipal Income Fund, Inc.1,4<\/sup><\/b><\/p>\n<\/td>\n

\n

\nRFM\n<\/p>\n<\/td>\n

\n

\n$0.1042\n<\/p>\n<\/td>\n

\n

\n\u2012\n<\/p>\n<\/td>\n

\n

\n$24.05\n<\/p>\n<\/td>\n

\n

\n5.20%\n<\/p>\n<\/td>\n

\n

\n$22.06\n<\/p>\n<\/td>\n

\n

\n5.67%\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n

Taxable Distributions <\/b><\/p>\n\n\n\n\n
\n

Fund Name<\/b><\/p>\n<\/td>\n

\n

Ticker<\/b><\/p>\n<\/td>\n

\n

Distribution
\n
Per Share<\/b><\/p>\n<\/td>\n

\n

Change
\n
From Prior
\n
Distribution<\/b><\/p>\n<\/td>\n

\n

Net Asset
\n
Value (NAV)
\n
as of
\n
3\/31\/2021<\/b><\/p>\n<\/td>\n

\n

Annualized
\n
Current
\n
Distribution
\n
Rate at NAV<\/b><\/p>\n<\/td>\n

\n

Market Price
\n
as of
\n
3\/31\/2021<\/b><\/p>\n<\/td>\n

\n

Annualized
\n
Current
\n
Distribution
\n
Rate at
\n
Market<\/b><\/p>\n<\/td>\n<\/tr>\n

\n

RiverNorth\/DoubleLine Strategic Opportunity Fund, Inc.5<\/sup><\/b><\/p>\n<\/td>\n

\n

\nOPP\n<\/p>\n<\/td>\n

\n

\n$0.1586\n<\/p>\n<\/td>\n

\n

\n\u2012\n<\/p>\n<\/td>\n

\n

\n$15.21\n<\/p>\n<\/td>\n

\n

\n12.51%\n<\/p>\n<\/td>\n

\n

\n$15.10\n<\/p>\n<\/td>\n

\n

\n12.60%\n<\/p>\n<\/td>\n<\/tr>\n

\n

RiverNorth Specialty Finance Corporation6<\/sup><\/b><\/p>\n<\/td>\n

\n

\nRSF\n<\/p>\n<\/td>\n

\n

\n$0.1523\n<\/p>\n<\/td>\n

\n

\n\u2012\n<\/p>\n<\/td>\n

\n

\n$19.00\n<\/p>\n<\/td>\n

\n

\n9.62%\n<\/p>\n<\/td>\n

\n

\n$17.90\n<\/p>\n<\/td>\n

\n

\n10.21%\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n\n\n\n\n\n\n\n
\n

1<\/sup><\/p>\n<\/td>\n

\n

\nMonthly distributions from RMI, RMM and RFM are expected to be generally exempt from regular U.S. federal income taxes, however, portions of these Funds\u2019 distributions may (i) be subject to U.S. federal income tax, (ii) be includable in taxable income for purposes of the federal alternative minimum tax, or (iii) constitute a return of capital. Such distributions will also generally be subject to state and local taxes. RiverNorth does not provide tax advice; consult a professional tax advisor regarding your specific tax situation.\n<\/p>\n<\/td>\n<\/tr>\n

\n

2<\/sup><\/p>\n<\/td>\n

\n

\nIn accordance with its level distribution policy, RMI\u2019s annual distribution rate has been set equal to 5.50% of the Fund\u2019s initial public offering price of $20.00 per share.\n<\/p>\n<\/td>\n<\/tr>\n

\n

3<\/sup><\/p>\n<\/td>\n

\n

\nIn accordance with its level distribution policy, RMM\u2019s annual distribution rate has been set equal to 5.50% of the Fund\u2019s initial public offering price of $20.00 per share.\n<\/p>\n<\/td>\n<\/tr>\n

\n

4<\/sup><\/p>\n<\/td>\n

\n

\nIn accordance with its level distribution policy, RFM\u2019s annual distribution rate has been set equal to 6.25% of the Fund\u2019s initial public offering price of $20.00 per share.\n<\/p>\n<\/td>\n<\/tr>\n

\n

5<\/sup><\/p>\n<\/td>\n

\n

\nIn accordance with its level distribution policy, OPP\u2019s annual distribution rate has been set to 12.50% of the average of the Fund\u2019s NAV per common share reported the final five trading days of the preceding calendar year.\n<\/p>\n<\/td>\n<\/tr>\n

\n

6<\/sup><\/p>\n<\/td>\n

\n

\nIn accordance with its level distribution policy, RSF\u2019s annual distribution rate has been set to 10.00% of the average of the Fund\u2019s NAV per common share reported the final five trading days of the preceding calendar year.\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n

\nWith 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\u2019s 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.\n<\/p>\n

\nEach 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\u2019s investment performance and should not be confused with \u2018yield\u2019 or \u2018income.\u2019 Any such returns of capital will decrease the Fund\u2019s total assets and, therefore, could have the effect of increasing the Fund\u2019s 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.\n<\/p>\n

About RiverNorth<\/b><\/p>\n

\nRiverNorth Capital Management, LLC is an investment management firm founded in 2000. With $4.9 billion7<\/sup> in assets under management as of February 28, 2021, 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.\n<\/p>\n\n\n
\n

7<\/sup><\/p>\n<\/td>\n

\n

\nFirm AUM reflects Managed Assets which includes the effects of leverage and investments in affiliated funds.\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n

\nAn investment in the Funds involves risk, including loss of principal.\n<\/p>\n

\nChris Lakumb is a registered representative of ALPS Distributors, Inc. RiverNorth Capital Management, LLC is not affiliated with DoubleLine Capital LP, or ALPS Distributors, Inc.\n<\/p>\n

Investors should consider a Fund’s investment objective, risks, charges and expenses carefully before investing. Each Fund\u2019s prospectus and most recent periodic reports contain this and other important information about the respective Fund and may be obtained by visiting rivernorth.com\/literature or by calling your financial professional or RiverNorth at 844.569.4750. <\/i><\/b><\/p>\n

\nNot FDIC Insured | May Lose Value | No Bank Guarantee
\n
ALPS Distributors, Inc. is the FINRA Member Firm.
\n
RiverNorth\u00ae is a registered trademark of RiverNorth Capital Management, LLC.
\n
DoubleLine\u00ae is a registered trademark of DoubleLine Capital LP.
\n
\u00a92000-2021 RiverNorth Capital Management, LLC. All rights reserved.
\n
RMI000205\n<\/p>\n

\"\"<\/p>\n

View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20210401005820\/en\/<\/a><\/span><\/p>\n

Investor Contact
\n<\/b>
Chris Lakumb, CFA, CAIA
\n
312.445.2336
\n
clakumb@rivernorth.com<\/a><\/p>\n

KEYWORDS:<\/b> United States North America Illinois<\/p>\n

INDUSTRY KEYWORDS:<\/b> Professional Services Finance<\/p>\n

MEDIA:<\/b><\/p>\n\n\n\n\n
Logo<\/b><\/font><\/td>\n<\/tr>\n
\"Logo\"<\/td>\n<\/tr>\n
<\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

RiverNorth Closed-End Funds Declare Monthly Distributions CHICAGO–(BUSINESS WIRE)– Several RiverNorth closed-end funds (the \u201cFunds\u201d) have announced the declaration of monthly distributions for April, May and June 2021 in accordance with each Fund\u2019s level distribution policy, as detailed below. Ex Date Record Date Payable Date April 15, 2021 April 16, 2021 April 30, 2021 May 13, 2021 May 14, 2021 May 28, 2021 June 15, 2021 June 16, 2021 June 30, 2021 Tax-Exempt Distributions1 Fund Name Ticker Distribution Per Share Change From Prior Distribution Net Asset Value (NAV) as of 3\/31\/2021 Annualized Current Distribution Rate at NAV Market Price as of 3\/31\/2021 Annualized Current Distribution Rate at Market RiverNorth Opportunistic Municipal Income Fund, Inc.1,2 RMI $0.0917 \u2012 $23.60 4.66% $21.97 5.01% … <\/p>\n

Continue reading “RiverNorth Closed-End Funds Declare Monthly Distributions”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-470180","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nRiverNorth Closed-End Funds Declare Monthly Distributions - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/rivernorth-closed-end-funds-declare-monthly-distributions\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"RiverNorth Closed-End Funds Declare Monthly Distributions - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"RiverNorth Closed-End Funds Declare Monthly Distributions CHICAGO–(BUSINESS WIRE)– Several RiverNorth closed-end funds (the \u201cFunds\u201d) have announced the declaration of monthly distributions for April, May and June 2021 in accordance with each Fund\u2019s level distribution policy, as detailed below. Ex Date Record Date Payable Date April 15, 2021 April 16, 2021 April 30, 2021 May 13, 2021 May 14, 2021 May 28, 2021 June 15, 2021 June 16, 2021 June 30, 2021 Tax-Exempt Distributions1 Fund Name Ticker Distribution Per Share Change From Prior Distribution Net Asset Value (NAV) as of 3\/31\/2021 Annualized Current Distribution Rate at NAV Market Price as of 3\/31\/2021 Annualized Current Distribution Rate at Market RiverNorth Opportunistic Municipal Income Fund, Inc.1,2 RMI $0.0917 \u2012 $23.60 4.66% $21.97 5.01% … Continue reading "RiverNorth Closed-End Funds Declare Monthly Distributions"\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/rivernorth-closed-end-funds-declare-monthly-distributions\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2021-04-01T20:33:32+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&sty=20210401005820r1&sid=flmnd&distro=nx&lang=en\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/rivernorth-closed-end-funds-declare-monthly-distributions\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/rivernorth-closed-end-funds-declare-monthly-distributions\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"RiverNorth Closed-End Funds Declare Monthly Distributions\",\"datePublished\":\"2021-04-01T20:33:32+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/rivernorth-closed-end-funds-declare-monthly-distributions\\\/\"},\"wordCount\":903,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/rivernorth-closed-end-funds-declare-monthly-distributions\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/cts.businesswire.com\\\/ct\\\/CT?id=bwnews&sty=20210401005820r1&sid=flmnd&distro=nx&lang=en\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/rivernorth-closed-end-funds-declare-monthly-distributions\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/rivernorth-closed-end-funds-declare-monthly-distributions\\\/\",\"name\":\"RiverNorth Closed-End Funds Declare Monthly Distributions - 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Market Newsdesk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.marketnewsdesk.com\/index.php\/rivernorth-closed-end-funds-declare-monthly-distributions\/","og_locale":"en_US","og_type":"article","og_title":"RiverNorth Closed-End Funds Declare Monthly Distributions - Market Newsdesk","og_description":"RiverNorth Closed-End Funds Declare Monthly Distributions CHICAGO–(BUSINESS WIRE)– Several RiverNorth closed-end funds (the \u201cFunds\u201d) have announced the declaration of monthly distributions for April, May and June 2021 in accordance with each Fund\u2019s level distribution policy, as detailed below. Ex Date Record Date Payable Date April 15, 2021 April 16, 2021 April 30, 2021 May 13, 2021 May 14, 2021 May 28, 2021 June 15, 2021 June 16, 2021 June 30, 2021 Tax-Exempt Distributions1 Fund Name Ticker Distribution Per Share Change From Prior Distribution Net Asset Value (NAV) as of 3\/31\/2021 Annualized Current Distribution Rate at NAV Market Price as of 3\/31\/2021 Annualized Current Distribution Rate at Market RiverNorth Opportunistic Municipal Income Fund, Inc.1,2 RMI $0.0917 \u2012 $23.60 4.66% $21.97 5.01% … Continue reading \"RiverNorth Closed-End Funds Declare Monthly Distributions\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/rivernorth-closed-end-funds-declare-monthly-distributions\/","og_site_name":"Market Newsdesk","article_published_time":"2021-04-01T20:33:32+00:00","og_image":[{"url":"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&sty=20210401005820r1&sid=flmnd&distro=nx&lang=en","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/rivernorth-closed-end-funds-declare-monthly-distributions\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/rivernorth-closed-end-funds-declare-monthly-distributions\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"RiverNorth Closed-End Funds Declare Monthly Distributions","datePublished":"2021-04-01T20:33:32+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/rivernorth-closed-end-funds-declare-monthly-distributions\/"},"wordCount":903,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/rivernorth-closed-end-funds-declare-monthly-distributions\/#primaryimage"},"thumbnailUrl":"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&sty=20210401005820r1&sid=flmnd&distro=nx&lang=en","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/rivernorth-closed-end-funds-declare-monthly-distributions\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/rivernorth-closed-end-funds-declare-monthly-distributions\/","name":"RiverNorth Closed-End Funds Declare Monthly Distributions - 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