Special Opportunities Fund, Inc.
SPEFinancial Services · Stock · monthly payer
Forward Yield
9.60%
Annual Dividend
$1.30
Payout Ratio
66%
5-Yr Growth
3.2%
Ex-Date
Jul 21, 2026
Frequency
Monthly
Summary
As of July 2026, Special Opportunities Fund, Inc. (SPE) yields 9.60% ($1.30 per share annually), with a blended fair-value estimate of $28.36 — +109% upside, so it screens as undervalued. Dividend safety grade: C (62/100). 2 years of dividend growth.
Is SPE a good dividend stock?
Yes, with caveatsSpecial Opportunities Fund, Inc. (SPE) pays a monthly dividend yielding 9.60% ($1.30/yr), with 2 years of growth and a dividend-safety grade of C. It's a solid income payer, but check the caveats below before buying.
Advantages
Risks
- Cut its dividend in 2023
- Very high yield can signal elevated risk
- Share price is down over the past 5 years
Key Data
- Dividend Yield
- 9.60%
- Payout Ratio
- 66%
- Annual Dividend
- $1.30
- 5-Yr Avg Growth
- 3.2%
- Ex-Dividend Date
- Jul 21, 2026
- Years of Growth
- 2
- Frequency
- monthly
- Beta
- 0.76
- Market Cap
- $144.4M
- P/E Ratio
- 6.9
- 5-Yr Total Return
- -13%
- 52-Week Range
- $13.14 – $15.99
- Dividend Safety
- C · 62/100
- Ever Cut?
- Yes (2023)
Frequently Asked Questions
SPE Price — Last 12 Months
Daily close
Price Return
1 Year
-13%
3 Years
+19%
5 Years
-13%
52-Week Range
$13.14 – $15.99
Price change over each period (excludes dividends). Past performance doesn't guarantee future results.
What is SPE worth?
Undervaluedlow confidenceOur blended fair-value estimate for Special Opportunities Fund, Inc. is $28.36 per share, versus a market price of $13.59. That implies 109% of upside — a margin of safety of about 52%.
Fair Value
$28.36
Current Price
$13.59
Upside
+109%
Margin of Safety
52%
How we get there
Discounted cash flow
Discounts projected free cash flow back to today.
Dividend discount
Discounts the future dividend stream back to today.
Earnings multiple (Graham)
Graham's earnings-multiple formula, anchored to bond yields.
At today's price, the market is pricing in about -10.0% annual free-cash-flow growth. We model 3.2% — below our estimate, leaving room for upside if the business executes.
Assumptions: 8.1% discount rate (CAPM), 3.2% stage-1 growth, 2.5% terminal growth, $1.98 EPS, $1.30 annual dividend. Updated weekly.
Fair-value estimates are model output for educational purposes only — not investment advice or a price target.
SPE Dividend Safety Score
Borderline
SmarterDividends' proprietary score, backtested against which dividends were actually cut over 15+ years (0.78 AUC). It blends a validated cut-risk model (growth streak, cut history) with current payout, cash-flow and debt. Higher is safer · not investment advice.
Dividend Growth
Total dividends per share by year
Dividend History
| Ex-Date | Pay Date | Amount | Type |
|---|---|---|---|
| Jun 16, 2026 | — | $0.1090 | regular |
| May 19, 2026 | — | $0.1090 | regular |
| Apr 22, 2026 | — | $0.1090 | regular |
| Apr 21, 2026 | — | $0.1090 | regular |
| Mar 17, 2026 | — | $0.1090 | regular |
| Feb 17, 2026 | — | $0.1090 | regular |
| Jan 20, 2026 | — | $0.1090 | regular |
| Dec 29, 2025 | — | $0.7000 | regular |
| Dec 16, 2025 | — | $0.1100 | regular |
| Nov 18, 2025 | — | $0.1100 | regular |
| Oct 21, 2025 | — | $0.1100 | regular |
| Sep 16, 2025 | — | $0.1100 | regular |
| Aug 19, 2025 | — | $0.1100 | regular |
| Jul 22, 2025 | — | $0.1100 | regular |
Income Calculator
At $1.30 / yr per share
