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RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. Announces the Approval of a 12.5% Level Distribution Policy

OPP | December 11, 2018

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. Announces the Approval of a 12.5% Level Distribution Policy

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. (the “Fund”) (NYSE: OPP) announced that its Board of Directors (the “Board”) has approved a new level distribution policy effective January 1, 2019. The Fund is also maintaining its previously declared monthly distribution for December 2018. More information follows below.

December 2018 Distribution


Distribution	Ex Date	Record Date	Payable Date
$0.15	December 13, 2018	December 14, 2018	December 28, 2018

Based on the Fund’s current market price per share of $16.12 (as of market close November 30, 2018), the distribution represents an annualized distribution rate of 11.17%.

Level Distribution Policy

The Board has approved an amended level distribution policy (the “Level Distribution Policy”) for the Fund, effective January 1, 2019. The Fund intends to continue its current practice of making monthly distributions to stockholders, but at a constant and fixed (not guaranteed) rate that is reset annually. The rate will be set equal to 12.5% of the average of the Fund’s NAV per share for the final five trading days of the preceding calendar year.

The Board believes that a high, predictable distribution rate, through a level distribution policy, results in better premium/discount management and may benefit all shareholders. Further, since the distribution amount is tied to the Fund’s NAV and will be adjusted each calendar year, the Level Distribution Policy should better allow the Fund to maintain stable, consistent and predictable rates of distribution that are more sustainable over the long-term. The distribution amount will not always reflect the Fund’s investment income or capital gains, does not represent yield and could be a return of capital.

The Board expects that any declaration of distributions to stockholders, including final amounts and dates applicable to each, will continue to be made and announced quarterly. Stockholders have the option of reinvesting these distributions in additional common shares through the Fund’s automatic dividend reinvestment plan. In the event of a market discount, dividends will be acquired through open-market purchases. In the event of a market premium, newly issued common shares will delivered based on the net asset value per common share. If electing to receive cash, stockholders should contact U.S. Bancorp Fund Services, LLC. (the “Plan Administrator”). For further information, the description of the dividend reinvestment plan in the prospectus should be carefully read.

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RiverNorth/DoubleLine Strategic Opportunity Fund, Inc.

The investment objective of the Fund is current income and overall total return. The Fund had approximately $269 million of total managed assets and 11.0 million shares of common stock outstanding as of November 30, 2018.

The Fund is a closed-end fund and does not continuously issue stock for sale as open-end mutual funds do. The Fund now trades in the secondary market. Investors wishing to buy or sell stock need to place orders through an intermediary or broker. The share price of a closed-end fund is based on the market value.

There can be no guarantee that the distribution policy will be successful in its goals. The Fund’s targeted distribution rates may be changed from time to time or discontinued, based on market conditions, among other factors.

Investors should not make any conclusions about the Fund’s investment performance from the amount of the Fund’s distributions or the Fund’s Level Distribution Policy. It is expected that the primary source of the Fund’s distributions will be from its net investment income. However, if needed, the Fund’s distribution may consist of return of capital (ROC). A ROC should not be confused with yield or income. It is not taxable; rather it reduces a shareholder’s tax basis in his or her shares of the Fund. A ROC will further reduce a Fund’s net asset value and thus, over time, potentially increase the Fund’s expense ratio.

Risk is inherent in all investing. Investing in any investment company security involves risk, including the risk that you may receive little or no return on your investment or even that you may lose part or all of your investment. Therefore, before investing in the Common Shares, you should consider the risks as well as the other information in the prospectus.

Investors should consider the Fund's investment objective, risks, charges and expenses carefully before investing. The prospectus should be read carefully before investing. For more information, please read the prospectus, call your financial professional or call 800.617.0004.

RiverNorth Capital Management, LLC

RiverNorth is an investment management firm founded in 2000 that specializes in opportunistic strategies in niche markets where the potential to exploit inefficiencies is greatest. RiverNorth is the manager to multiple registered and private funds. RiverNorth® is a registered trademark of RiverNorth Capital Management, LLC.