Company: RFMZ
Filing Date: 2025-03-07
Form Type: N-CSRS
Source: 0001398344-25-005064
Chunk: 28

Company: RiverNorth Flexible Municipal Income Fund II, Inc.
Filing Date: 2025-03-07
Form: N-CSRS
Chunk 28
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 registered owner of common shares elects
to receive cash by contacting DST Systems, Inc. (the “Plan Administrator”), all dividends and distributions declared on common
shares will be automatically reinvested by the Plan Administrator for shareholders in the Fund’s Plan, in additional common shares.
Common shareholders who elect not to participate in the Plan will receive all dividends and other distributions in cash paid by check
mailed directly to the shareholder of record (or, if the common shares are held in street or other nominee name, then to such nominee)
by the Plan Administrator as dividend disbursing agent. Participation in the Plan is completely voluntary and may be terminated or resumed
at any time without penalty by notice if received and processed by the Plan Administrator prior to the dividend record date; otherwise
such termination or resumption will be effective with respect to any subsequently declared dividend or other distribution. Such notice
will be effective with respect to a particular dividend or other distribution (together, a “Dividend”). Some brokers may automatically
elect to receive cash on behalf of common shareholders and may re-invest that cash in additional common shares. Reinvested Dividends will
increase the Fund’s Managed Assets on which the management fee is payable to the Adviser (and by the Adviser to the Sub-Adviser).

Whenever the Fund declares a Dividend payable
in cash, non-participants in the Plan will receive cash and participants in the Plan will receive the equivalent in common shares. The
common shares will be acquired by the Plan Administrator for the participants’ accounts, depending upon the circumstances described
below, either (i) through receipt of additional unissued but authorized common shares from the Fund (“Newly Issued Common Shares”)
or (ii) by purchase of outstanding common shares on the open market (“Open-Market Purchases”) on the NYSE or elsewhere. If,
on the payment date for any Dividend, the closing market price plus estimated brokerage commissions per common share is equal to or greater
than the NAV per common share, the Plan Administrator will invest the Dividend amount in Newly Issued Common Shares on behalf of the participants.
The number of Newly Issued common shares to be credited to each participant’s account will be determined by dividing the dollar
amount of the Dividend by the Fund’s NAV per common share on the payment date. If, on the payment date for any Dividend, the NAV
per common share is greater than the closing market value plus estimated brokerage commissions (i.e., the Fund’s common