RiverNorth/DoubleLine Strategic Opportunity Fund Inc Declares $0.2968 Perpetual Preferred Dividend of 6.51%

RiverNorth/DoubleLine Strategic Opportunity Fund Inc - 4.75% PRF PERPETUAL USD 25 - Ser B has declared a $0.2968 dividend, representing a 6.51% yield. The dividend is payable on August 15, for shareholders of record on August 1, and ex-div on August 1.

Title: RiverNorth/DoubleLine Strategic Opportunity Fund Inc - 4.75% PRF Perpetual USD 25 - Ser B Dividend Declaration

RiverNorth/DoubleLine Strategic Opportunity Fund Inc has declared a $0.2968 dividend for its 4.75% Preferred Stock Series B (OPPPRB), representing a 6.51% yield. The dividend is payable on August 15, 2025, to shareholders of record on August 1, 2025, with an ex-dividend date of August 1, 2025 [1].

The fund, managed by RiverNorth Capital Management, LLC, is a closed-end fixed income mutual fund that invests in various fixed income markets. It seeks to benchmark its performance against the Barclays Capital U.S. Aggregate Bond Index. The fund has been attracting income-focused investors due to its high yield, which currently stands at 13.33% [2].

However, investors should be cautious. The fund's high yield comes with significant risks, including leverage, declining interest rates, and macroeconomic headwinds that may impact small business loans. Additionally, the fund's distribution has been criticized for not being sustainable [3].

RiverNorth/DoubleLine Strategic Opportunity Fund Inc has a history of declaring preferred dividends, with the latest announcement detailing the distribution dates for July and August 2025 [4]. The fund has also issued new preferred stocks, such as the 6.00% term preferred stock (OPP-C) [5].

Investors should carefully evaluate the fund's risks and consider their risk tolerance and investment objectives before making any investment decisions. The fund's high yield and potential for capital appreciation due to NAV discounts make it an attractive option for income seekers, but it is not without its challenges [6].

References:
1. [1] https://stockanalysis.com/stocks/opp/
2. [2] https://www.morningstar.com/news/business-wire/20250717291866/rivernorth-opportunities-fund-inc-and-rivernorthdoubleline-strategic-opportunity-fund-inc-announce-preferred-dividends
3. [3] https://seekingalpha.com/article/4000008-opp-dont-trust-the-distribution-as-it-is-not-sustainable
4. [4] https://businesswire.com/news/home/20241216005722/en/RiverNorth-Closed-End-Funds-Declare-Monthly-Distributions
5. [5] https://seekingalpha.com/article/4000008-opp-rights-offering-presents-opportunity-to-collect-high-yield-income-at-discounted-price
6. [6] https://seekingalpha.com/article/4000008-opp-finally-time-for-this-eclectic-fund-14-yield