Company: RFMZ
Filing Date: 2025-02-20
Form Type: N-2/A
Source: 0001398344-25-003172
Chunk: 10

Company: RiverNorth Flexible Municipal Income Fund II, Inc.
Filing Date: 2025-02-20
Form: N-2/A
Chunk 10
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’s           
 distributions could consist of return of capital in order to maintain the distribution rate. The amount treated as a return of           
 capital will reduce a shareholder’s adjusted basis in the shareholder’s shares, thereby increasing the potential                         
 gain or reducing the potential loss on the sale of shares. Investors should not make any conclusions about the Fund’s investment         
 performance from the amount of the Fund’s distributions or from the terms of the Fund’s Level Distribution Policy.                       
 Dividends and distributions may be payable in cash or common shares, with shareholders having the option to receive additional           
 common shares in lieu of cash. The Fund may at times, in its discretion, pay out less than the entire amount of net investment           
 income earned in any particular period and may at times pay out such accumulated undistributed income in addition to net investment      
 income earned in other periods in order to permit the Fund to maintain a more stable level of distributions. As a result, the            
 dividend paid by the Fund to common shareholders for any particular period may be more or less than the amount of net investment         
 income earned by the Fund during such period. The Fund’s ability to maintain a stable level of distributions to shareholders             
 will depend on a number of factors, including the stability of income received from its investments. The amount of monthly distributions 
 could vary depending on a number of factors, including the costs of any leverage. As portfolio and market conditions change,             
 the amount of dividends on the Fund’s common shares could change. For federal income tax purposes, the Fund is required                  
 to distribute substantially all of its net investment income each year to both reduce its federal income tax liability and to            
 avoid a potential federal excise tax. The Fund intends to distribute all realized net capital gains, if any, at least annually.          
 See “Dividends and Distributions.”                                                                                                       |

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| Dividend Reinvestment                                   
 Plan                                                    |     | The                                                                                                                                   
 Fund has an automatic dividend reinvestment plan (the “Plan”) commonly referred to as an “opt-out”                                    
 plan. Each Common Shareholder who participates in the Plan will have all distributions of dividends and capital                       
 gains automatically reinvested in additional Common Shares. The automatic reinvestment of dividends and distributions                 
 in Common Shares will not relieve participants of any federal, state or local income tax that may be payable                          
 (or required to be withheld) on such dividends and distributions, even though such participants have not received                     
 any cash with which to pay the resulting tax.                                                                                         
 Common