RiverNorth Marketplace Lending Corporation, an established and currently operating as a closed-end interval fund dedicated to the marketplace lending asset class, announced on Tuesday its monthly distribution of $0.18 per common share for the months of October, November, and December 2019. According to RiverNorth, the distribution is subject to the following ex-distribution, record and payable dates below set by the Fund’s Board of Directors.
“In accordance with the level distribution policy, the annualized distribution rate has been set equal to 10% of the Fund’s common shares’ net asset value (NAV) as of the last business day of the Fund’s fiscal year, June 28, 2019, $21.45. Based on the Fund’s current NAV per share of $20.71 (as of market close September 27, 2019), the distributions represent an annualized distribution rate of 10.43%.”
The following dates apply to the distributions declared:
|
Ex Date |
Record Date |
Payable Date |
|
October 16, 2019 |
October 17, 2019 |
October 31, 2019 |
|
November 13, 2019 |
November 14, 2019 |
November 29, 2019 |
|
December 11, 2019 |
December 12, 2019 |
December 31, 2019 |
RiverNorth went on to add:
“Common stockholders have the option of reinvesting these distributions in additional common shares through the Fund’s automatic dividend reinvestment plan. In the event the Fund’s common shares are trading at a discount to the Fund’s NAV, dividends will be acquired through open-market purchases.”
