RiverNorth Funds Announce Upcoming Monthly Distributions
RiverNorth Funds Announce Upcoming Monthly Distributions
In a recent update, RiverNorth closed-end funds have declared their monthly distributions for several upcoming months, following their established distribution policies. This announcement is significant for current and potential investors as it shares vital information about expected financial returns.
Distribution Schedule
As part of their commitment to provide consistent returns to shareholders, the RiverNorth Funds have outlined specific distribution dates. The declarations cover the planned distribution amounts for the latter part of the year, ensuring that investors are informed and prepared for these dates.
Key Dates and Amounts
The following distributions are set:
- October 15, 2024: Record Date also October 15; Payable Date October 31
- November 15, 2024: Record Date also November 15; Payable Date November 29
- December 13, 2024: Record Date also December 13; Payable Date December 31
Tax-Exempt and Taxable Distributions
In addition to the schedule, there are two categories of distributions to be aware of: tax-exempt and taxable. These categories define how returns on investment might affect shareholder tax obligations, and understanding this can help investors plan their strategies accordingly.
Tax-Exempt Distributions
The funds including RiverNorth Opportunistic Municipal Income Fund, RiverNorth Managed Duration Municipal Income Fund, RiverNorth Flexible Municipal Income Fund, among others, typically offer distributions that may be exempt from regular U.S. federal income taxes, but it’s critical to check the specifics as some portions may still be subject to different tax scenarios.
Taxable Distributions
On the other hand, funds like RiverNorth Opportunities Fund carry distributions that could be subject to taxation. Hence, understanding the ramifications of these investments is essential for long-term financial planning.
Investment Insights
An investment in these funds might involve various levels of risk, including potential loss of principal. Investors should take the time to carefully consider each Fund’s investment objectives, risks, charges, and expenses.
Each of the funds maintains a level distribution policy aimed at sustaining consistent monthly payouts. However, fluctuations in financial markets and performance may influence whether these distributions can be maintained.
Shareholders have options regarding the way they receive distributions. They can choose to either reinvest their dividends or take cash distributions, which presents flexibility based on individual preferences and financial strategies.
For those interested in maximizing their investment, participating in the dividend reinvestment plan can be an appealing choice since it allows for the purchase of additional shares of the Fund, potentially at advantageous rates.
About RiverNorth Capital Management
Founded in 2000, RiverNorth Capital Management, LLC is a distinguished investment management firm known for its innovative investment strategies. With a robust portfolio amounting to over $5.1 billion in assets under management, RiverNorth specializes in identifying and capitalizing on opportunities in niche markets.
This capacity allows them to efficiently exploit inefficiencies present in the market, aligning with their goal to provide sustained returns to their investors.
For shareholders looking to get more information regarding their specific distributions or investment approaches, they are advised to consult the Fund’s prospectus or reach out to their financial advisors for personalized insights.
Frequently Asked Questions
What are the upcoming distribution dates for RiverNorth funds?
The distribution dates are set for October 15, November 15, and December 13, 2024.
How can shareholders receive their distributions?
Shareholders can choose to receive cash distributions or reinvest their dividends through the dividend reinvestment plan.
What should investors know about tax implications?
Some distributions may be exempt from federal income taxes, while others, particularly taxable distributions, may have tax obligations.
How does RiverNorth ensure consistent distributions?
The funds maintain a level distribution policy intended to provide stable payouts, though market changes may affect this ability.
What is the role of RiverNorth Capital Management?
RiverNorth Capital Management specializes in opportunistic strategies aimed at exploiting market inefficiencies, maintaining over $5.1 billion in assets under management.
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