Special Opportunities Fund, Inc.
SPEFinancial Services · Stock · monthly payer
Forward Yield
9.94%
Annual Dividend
$1.30
Payout Ratio
136%
5-Yr Growth
3.2%
Ex-Date
Sep 22, 2026
Frequency
Monthly
Summary
As of September 2026, Special Opportunities Fund, Inc. (SPE) yields 9.94% ($1.30 per share annually), with a blended fair-value estimate of $24.31 — +85% upside, so it screens as undervalued. Dividend safety grade: C (54/100). 2 years of dividend growth.
Is SPE a good dividend stock?
MixedSpecial Opportunities Fund, Inc. (SPE) pays a monthly dividend yielding 9.94% ($1.30/yr), with 2 years of growth and a dividend-safety grade of C. The picture is mixed — the dividend pays, but safety or growth signals are weaker than ideal.
Advantages
Risks
- Cut its dividend in 2023
- Elevated payout ratio (136%)
- Very high yield can signal elevated risk
- Share price is down over the past 5 years
Key Data
- Dividend Yield
- 9.94%
- Payout Ratio
- 136%
- Annual Dividend
- $1.30
- 5-Yr Avg Growth
- 3.2%
- Ex-Dividend Date
- Sep 22, 2026
- Years of Growth
- 2
- Frequency
- monthly
- Beta
- 0.76
- Market Cap
- $144.6M
- P/E Ratio
- 13.7
- 5-Yr Total Return
- -17%
- 52-Week Range
- $13.02 – $15.70
- Dividend Safety
- C · 54/100
- Ever Cut?
- Yes (2023)
Frequently Asked Questions
SPE Price — Last 12 Months
Daily close
Price Return
1 Year
-14%
3 Years
+27%
5 Years
-17%
52-Week Range
$13.02 – $15.70
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 $24.31 per share, versus a market price of $13.12. That implies 85% of upside — a margin of safety of about 46%.
Fair Value
$24.31
Current Price
$13.12
Upside
+85%
Margin of Safety
46%
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, $0.96 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 |
|---|---|---|---|
| Aug 18, 2026 | — | $0.1090 | regular |
| Jul 21, 2026 | — | $0.1090 | regular |
| 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 |
Income Calculator
At $1.30 / yr per share
