KKR Income Opportunities Fund (the “Fund”) (NYSE: KIO) today announced its initial monthly distribution of $0.125 per common share, payable on the date noted below. The initial distribution schedule is as follows:
October 9, 2013
October 11, 2013
October 28, 2013
$0.125 per share
“We are pleased to report that as of the date of this statement, we have invested approximately 80% of the Fund’s capital. The flexibility in the investment strategy provides opportunities for yield as well as capital appreciation as we look to achieve the Fund’s investment objective,” said Chris Sheldon, Member of KKR and co-head of Leveraged Credit. The distribution is expected to be paid from net investment income (regular interest and dividends). The final tax characterization of the dividend may differ substantially from this preliminary information, which is based on estimates, and the final characterization of such amount will be determined in early 2014. The Fund is a newly organized, non-diversified, closed-end management investment company with no operating history. Investors should consider the Fund’s investment objectives, risks, charges and expenses carefully before investing. The investment return, price, yields, market value and net asset value (NAV) of a fund's shares will fluctuate with market conditions. Closed-end funds frequently trade at a discount to their NAV, which may increase an investor’s risk of loss. There is no assurance that the Fund will meet its investment objective.
Looking at the universe of stocks we cover at Dividend Channel, on 2/5/15, KKR Income Opportunities Fund will trade ex-dividend, for its monthly dividend of $0.125, payable on 2/23/15. As a percentage of KIO's recent stock price of $16.37, this dividend works out to approximately 0.76%, so look for shares of KKR Income Opportunities Fund to trade 0.76% lower — all else being equal — when KIO shares open for trading on 2/5/15.
Looking at the universe of stocks we cover at Dividend Channel, on 1/8/15, KKR Income Opportunities Fund will trade ex-dividend, for its monthly dividend of $0.125, payable on 1/26/15. As a percentage of KIO's recent stock price of $16.17, this dividend works out to approximately 0.77%, so look for shares of KKR Income Opportunities Fund to trade 0.77% lower — all else being equal — when KIO shares open for trading on 1/8/15.
The DividendRank formula at Dividend Channel ranks a coverage universe of thousands of dividend stocks, according to a proprietary formula designed to identify those stocks that combine two important characteristics — strong fundamentals and a valuation that looks inexpensive. KKR Income Opportunities Fund presently has a stellar rank, in the top 10% of the coverage universe, which suggests it is among the top most "interesting" ideas that merit further research by investors.