{"id":744911,"date":"2023-04-03T17:03:50","date_gmt":"2023-04-03T21:03:50","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/rivernorth-closed-end-funds-declare-monthly-distributions-and-rivernorth-flexible-municipal-income-fund-inc-declares-capital-gain-distribution\/"},"modified":"2023-04-03T17:03:50","modified_gmt":"2023-04-03T21:03:50","slug":"rivernorth-closed-end-funds-declare-monthly-distributions-and-rivernorth-flexible-municipal-income-fund-inc-declares-capital-gain-distribution","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/rivernorth-closed-end-funds-declare-monthly-distributions-and-rivernorth-flexible-municipal-income-fund-inc-declares-capital-gain-distribution\/","title":{"rendered":"RiverNorth Closed-End Funds Declare Monthly Distributions and RiverNorth Flexible Municipal Income Fund, Inc. Declares Capital Gain Distribution"},"content":{"rendered":"

<\/p>\n

RiverNorth Closed-End Funds Declare Monthly Distributions and RiverNorth Flexible Municipal Income Fund, Inc. Declares Capital Gain Distribution<\/b><\/p>\n

WEST PALM BEACH, Fla.–(BUSINESS WIRE<\/a>)–
\nThe RiverNorth closed-end funds (the \u201cFunds\u201d) have declared monthly distributions for April, May and June 2023 in accordance with each Fund\u2019s level distribution policy. In addition, the RiverNorth Flexible Municipal Income Fund, Inc. has declared a capital gain distribution. Details below.<\/p>\n\n\n\n\n\n
\n

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

\n\n\n

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

\n\n\n

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

\n

\nApril 13, 2023<\/p>\n<\/td>\n

\n\n\n

\nApril 14, 2023<\/p>\n<\/td>\n

\n\n\n

\nApril 28, 2023<\/p>\n<\/td>\n<\/tr>\n

\n

\nMay 12, 2023<\/p>\n<\/td>\n

\n\n\n

\nMay 15, 2023<\/p>\n<\/td>\n

\n\n\n

\nMay 31, 2023<\/p>\n<\/td>\n<\/tr>\n

\n

\nJune 14, 2023<\/p>\n<\/td>\n

\n\n\n

\nJune 15, 2023<\/p>\n<\/td>\n

\n\n\n

\nJune 30, 2023<\/p>\n<\/td>\n<\/tr>\n<\/table>\n

Tax-Exempt Distributions<\/b>1<\/sup><\/p>\n\n\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\/2023<\/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\/2023<\/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<\/p>\n<\/td>\n

\n

\n$0.0974<\/p>\n<\/td>\n

\n

\n—<\/p>\n<\/td>\n

\n

\n$17.39<\/p>\n<\/td>\n

\n

\n6.72%<\/p>\n<\/td>\n

\n

\n$16.75<\/p>\n<\/td>\n

\n

\n6.98%<\/p>\n<\/td>\n<\/tr>\n

\n

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

\n

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

\n

\n$0.0911<\/p>\n<\/td>\n

\n

\n—<\/p>\n<\/td>\n

\n

\n$16.38<\/p>\n<\/td>\n

\n

\n6.67%<\/p>\n<\/td>\n

\n

\n$15.07<\/p>\n<\/td>\n

\n

\n7.25%<\/p>\n<\/td>\n<\/tr>\n

\n

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

\n

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

\n

\n$0.0985<\/p>\n<\/td>\n

\n

\n—<\/p>\n<\/td>\n

\n

\n$17.64<\/p>\n<\/td>\n

\n

\n6.70%<\/p>\n<\/td>\n

\n

\n$15.49<\/p>\n<\/td>\n

\n

\n7.63%<\/p>\n<\/td>\n<\/tr>\n

\n

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

\n

\nRFMZ<\/p>\n<\/td>\n

\n

\n$0.0865<\/p>\n<\/td>\n

\n

\n—<\/p>\n<\/td>\n

\n

\n$15.41<\/p>\n<\/td>\n

\n

\n6.74%<\/p>\n<\/td>\n

\n

\n$13.50<\/p>\n<\/td>\n

\n

\n7.69%<\/p>\n<\/td>\n<\/tr>\n

\n

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

\n

\nRMMZ<\/p>\n<\/td>\n

\n

\n$0.0971<\/p>\n<\/td>\n

\n

\n—<\/p>\n<\/td>\n

\n

\n$17.38<\/p>\n<\/td>\n

\n

\n6.70%<\/p>\n<\/td>\n

\n

\n$15.07<\/p>\n<\/td>\n

\n

\n7.73%<\/p>\n<\/td>\n<\/tr>\n<\/table>\n

Taxable Distributions<\/b><\/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\/2023<\/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\/2023<\/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 Opportunities <\/b>Fund, Inc.3<\/sup><\/b><\/p>\n<\/td>\n

\n

\nRIV<\/p>\n<\/td>\n

\n

\n$0.1278<\/p>\n<\/td>\n

\n

\n—<\/p>\n<\/td>\n

\n

\n$12.43<\/p>\n<\/td>\n

\n

\n12.34%<\/p>\n<\/td>\n

\n

\n$11.36<\/p>\n<\/td>\n

\n

\n13.50%<\/p>\n<\/td>\n<\/tr>\n

\n

RiverNorth Capital and Income Fund, Inc.4<\/sup>*<\/b><\/p>\n<\/td>\n

\n

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

\n

\n$0.1424<\/p>\n<\/td>\n

\n

\n—<\/p>\n<\/td>\n

\n

\n$16.74<\/p>\n<\/td>\n

\n

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

\n

\n$15.43<\/p>\n<\/td>\n

\n

\n11.07%<\/p>\n<\/td>\n<\/tr>\n

\n

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

\n

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

\n

\n$0.1021<\/p>\n<\/td>\n

\n

\n—<\/p>\n<\/td>\n

\n

\n$9.82<\/p>\n<\/td>\n

\n

\n12.48%<\/p>\n<\/td>\n

\n

\n$8.56<\/p>\n<\/td>\n

\n

\n14.31%<\/p>\n<\/td>\n<\/tr>\n<\/table>\n

*<\/i> Formerly known as RiverNorth Specialty Finance Corporation. Effective December 7, 2022 the Fund changed its name to RiverNorth Capital and Income Fund, Inc.<\/i><\/p>\n

Capital Gain Distribution<\/b><\/p>\n

\nRiverNorth Flexible Municipal Income Fund\u2019s capital gain distribution is in addition to its regular monthly distribution. It represents previously undistributed net long-term capital gains realized in 2022.<\/p>\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

\n

Long-Term Capital Gain Distribution Per Share<\/b><\/p>\n<\/td>\n<\/tr>\n

\n

\nApril 13, 2023<\/p>\n<\/td>\n

\n

\nApril 14, 2023<\/p>\n<\/td>\n

\n

\nApril 28, 2023<\/p>\n<\/td>\n

\n

\n$0.396714<\/p>\n<\/td>\n<\/tr>\n<\/table>\n

RMI, RMM, RFM, RFMZ, RMMZ, RIV, RSF and OPP are closed-end funds.<\/i><\/p>\n

\nHolders of each Fund\u2019s common stock will receive the distribution under one of two options:<\/p>\n

    \n
  1. \nReceive additional full and fractional shares of the respective Fund\u2019s common stock, or<\/p>\n<\/li>\n
  2. \nElect to receive cash for the distribution.<\/p>\n<\/li>\n<\/ol>\n

    \nContact your broker-dealer where you hold the shares to confirm your distribution reinvestment election.<\/p>\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.<\/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.<\/p>\n

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

    \nRiverNorth Capital Management, LLC is an investment management firm founded in 2000. With $5.1 billion6<\/sup> in assets under management as of February 28, 2023, 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.<\/p>\n\n\n\n\n\n\n\n
    \n

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

    		\n

    \nMonthly distributions from RMI, RMM, RFM, RFMZ and RMMZ 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.<\/p>\n<\/td>\n<\/tr>\n

    \n

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

    		\n

    \nIn accordance with their level distribution policies, the annual distribution rates for RMI, RMM, RFM, RFMZ and RMMZ have been set equal to 6.75% of the average of each Fund\u2019s NAV per share as reported for the final five trading days of the preceding calendar year.<\/p>\n<\/td>\n<\/tr>\n

    \n

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

    		\n

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

    \n

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

    		\n

    \nIn accordance with its level distribution policy, RSF\u2019s annual distribution rate has been set equal to 10.00% of the average of the Fund\u2019s NAV per common share reported on the final five trading days of the preceding calendar year.<\/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 equal to 12.50% of the average of the Fund\u2019s NAV per common share reported on the final five trading days of the preceding calendar year.<\/p>\n<\/td>\n<\/tr>\n

    \n

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

    		\n

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

    \nAn investment in the Funds involves risk, including loss of principal.<\/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 <\/i><\/b>rivernorth.com\/literature<\/i><\/b><\/a> or by calling your financial professional or RiverNorth at 844.569.4750.<\/i><\/b><\/p>\n

    \nMember Firm ALPS Distributors Inc. Chris Lakumb is a registered representative of ALPS Distributors, Inc.
    \n
    Marketing services provided by ALPS Distributors Inc.
    \n
    RiverNorth Capital Management, LLC is not affiliated with DoubleLine Capital LP, or ALPS Distributors, Inc.
    \n
    Not FDIC Insured | May Lose Value | No Bank Guarantee
    \n
    RiverNorth\u00ae is a registered trademark of RiverNorth Capital Management, LLC. DoubleLine\u00ae is a registered trademark of DoubleLine Capital LP.
    \n
    \u00a92000-2023 RiverNorth Capital Management, LLC. All rights reserved. RMI000310<\/p>\n

    \"\"<\/p>\n

    View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20230403005791\/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> Illinois United States North America<\/p>\n

    INDUSTRY KEYWORDS:<\/b> Finance Banking Professional Services Other Professional Services Asset Management<\/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 and RiverNorth Flexible Municipal Income Fund, Inc. Declares Capital Gain Distribution WEST PALM BEACH, Fla.–(BUSINESS WIRE)– The RiverNorth closed-end funds (the \u201cFunds\u201d) have declared monthly distributions for April, May and June 2023 in accordance with each Fund\u2019s level distribution policy. In addition, the RiverNorth Flexible Municipal Income Fund, Inc. has declared a capital gain distribution. Details below. Ex Date Record Date Payable Date April 13, 2023 April 14, 2023 April 28, 2023 May 12, 2023 May 15, 2023 May 31, 2023 June 14, 2023 June 15, 2023 June 30, 2023 Tax-Exempt Distributions1 Fund Name Ticker Distribution Per Share Change From Prior Distribution Net Asset Value (NAV) as of 3\/31\/2023 Annualized Current Distribution Rate at … <\/p>\n

    Continue reading “RiverNorth Closed-End Funds Declare Monthly Distributions and RiverNorth Flexible Municipal Income Fund, Inc. Declares Capital Gain Distribution”<\/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-744911","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nRiverNorth Closed-End Funds Declare Monthly Distributions and RiverNorth Flexible Municipal Income Fund, Inc. Declares Capital Gain Distribution - 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-and-rivernorth-flexible-municipal-income-fund-inc-declares-capital-gain-distribution\/\" \/>\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 and RiverNorth Flexible Municipal Income Fund, Inc. Declares Capital Gain Distribution - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"RiverNorth Closed-End Funds Declare Monthly Distributions and RiverNorth Flexible Municipal Income Fund, Inc. Declares Capital Gain Distribution WEST PALM BEACH, Fla.–(BUSINESS WIRE)– The RiverNorth closed-end funds (the \u201cFunds\u201d) have declared monthly distributions for April, May and June 2023 in accordance with each Fund\u2019s level distribution policy. In addition, the RiverNorth Flexible Municipal Income Fund, Inc. has declared a capital gain distribution. Details below. Ex Date Record Date Payable Date April 13, 2023 April 14, 2023 April 28, 2023 May 12, 2023 May 15, 2023 May 31, 2023 June 14, 2023 June 15, 2023 June 30, 2023 Tax-Exempt Distributions1 Fund Name Ticker Distribution Per Share Change From Prior Distribution Net Asset Value (NAV) as of 3\/31\/2023 Annualized Current Distribution Rate at … Continue reading "RiverNorth Closed-End Funds Declare Monthly Distributions and RiverNorth Flexible Municipal Income Fund, Inc. 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Declares Capital Gain Distribution WEST PALM BEACH, Fla.–(BUSINESS WIRE)– The RiverNorth closed-end funds (the \u201cFunds\u201d) have declared monthly distributions for April, May and June 2023 in accordance with each Fund\u2019s level distribution policy. In addition, the RiverNorth Flexible Municipal Income Fund, Inc. has declared a capital gain distribution. Details below. Ex Date Record Date Payable Date April 13, 2023 April 14, 2023 April 28, 2023 May 12, 2023 May 15, 2023 May 31, 2023 June 14, 2023 June 15, 2023 June 30, 2023 Tax-Exempt Distributions1 Fund Name Ticker Distribution Per Share Change From Prior Distribution Net Asset Value (NAV) as of 3\/31\/2023 Annualized Current Distribution Rate at … Continue reading \"RiverNorth Closed-End Funds Declare Monthly Distributions and RiverNorth Flexible Municipal Income Fund, Inc. Declares Capital Gain Distribution\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/rivernorth-closed-end-funds-declare-monthly-distributions-and-rivernorth-flexible-municipal-income-fund-inc-declares-capital-gain-distribution\/","og_site_name":"Market Newsdesk","article_published_time":"2023-04-03T21:03:50+00:00","og_image":[{"url":"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&sty=20230403005791r1&sid=flmnd&distro=nx&lang=en","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"5 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/rivernorth-closed-end-funds-declare-monthly-distributions-and-rivernorth-flexible-municipal-income-fund-inc-declares-capital-gain-distribution\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/rivernorth-closed-end-funds-declare-monthly-distributions-and-rivernorth-flexible-municipal-income-fund-inc-declares-capital-gain-distribution\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"RiverNorth Closed-End Funds Declare Monthly Distributions and RiverNorth Flexible Municipal Income Fund, Inc. 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