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| Rivernorth Opportunities Fund Series A, Perpetual Preferred Stock Goes Ex-Dividend SoonBy Preferred Stock Channel Staff, Tuesday, January 30, 1:37 PM ET
On 2/1/24, Rivernorth Opportunities Fund Inc's 6.00% Series A, Perpetual Preferred Stock (NYSE:RIV.PRA) will trade ex-dividend, for its quarterly dividend of $0.375, payable on 2/15/24. As a percentage of RIV.PRA's recent share price of $24.09, this dividend works out to approximately 1.56%, so look for shares of RIV.PRA to trade 1.56% lower — all else being equal — when RIV.PRA shares open for trading on 2/1/24. On an annualized basis, the current yield is approximately 6.25%, which compares to an average yield of 5.32% in the "ETFs & CEFs" preferred stock category, according to Preferred Stock Channel. As of last close, RIV.PRA was trading at a 4.00% discount to its liquidation preference amount. The chart below shows the one year performance of RIV.PRA shares, versus RIV:
Below is a dividend history chart for RIV.PRA, showing historical dividends prior to the most recent $0.375 on Rivernorth Opportunities Fund Inc's 6.00% Series A, Perpetual Preferred Stock: Special Offer: Join the income investing conversation on ValueForum.com with a special Seven Days for Seven Dollars invitation.
In Tuesday trading, Rivernorth Opportunities Fund Inc's 6.00% Series A, Perpetual Preferred Stock (NYSE:RIV.PRA) is currently up about 0.4% on the day, while the common shares (NYSE:RIV) are up about 1%.
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