Welcome to our dedicated page for Rand Capital news (Ticker: RAND), a resource for investors and traders seeking the latest updates and insights on Rand Capital stock.
Rand Capital Corp (NASDAQ: RAND) is a closed-end, diversified management company based in Santa Monica, California. The company, located at 1343 26th St Apt 201, aims to maximize total returns for its shareholders by combining current income with capital appreciation. Rand Capital Corp focuses on a diversified portfolio that includes investments in innovative companies such as Luminous and GiveGab, among others.
Rand Capital's core business strategy revolves around identifying and investing in growth-oriented companies across various sectors. The firm aims to generate consistent income streams while also seeking opportunities for capital gains. Recent achievements of the company highlight successful investments that have generated substantial returns, reinforcing its dual objectives of income and growth.
Currently, Rand Capital is engaged in several promising projects and partnerships. By leveraging its robust investment strategy and deep industry insights, the company continues to expand its portfolio, ensuring sustainable financial performance over the long term. As a result, shareholders can expect a well-managed and balanced approach to investment that prioritizes both stability and growth.
Financially, Rand Capital maintains a healthy balance sheet with a strong asset base. This solid financial foundation enables the company to pursue attractive investment opportunities while also providing a cushion against market volatility. The firm's commitment to sound financial management underpins its ability to deliver consistent returns to its investors.
In summary, Rand Capital Corp stands out as a reliable investment company with a clear focus on maximizing shareholder value through a combination of current income and capital appreciation. The company's diversified portfolio, strong financial health, and strategic investments position it for continued success in the investment management space.
Rand Capital Corporation (NASDAQ: RAND) reported a 67% increase in total investment income to $1.4 million for Q2 2022, driven by higher interest and dividend income. NAV per share was $22.34, reflecting a decrease in portfolio market value. The company announced a quarterly dividend of $0.15 per share and secured a $25 million revolving credit facility for future investments. Net investment income reached $1.4 million, or $0.55 per share, compared to a loss of $811,000 in the prior year. The portfolio's fair value decreased by 6% to $59 million.
Rand Capital Corporation (NASDAQ: RAND) has declared a quarterly cash dividend of $0.15 per share, payable on or about September 15, 2022, to shareholders recorded by September 1, 2022. As of June 30, 2022, the company had approximately 2.6 million shares outstanding. The Board reviews taxable income estimates when declaring future distributions, which may vary from net income due to changes in unrealized appreciation, income recognition differences, and spillover income.
Rand Capital Corporation (Nasdaq: RAND) will release its second quarter 2022 financial results before the market opens on August 8, 2022. A conference call and webcast will follow at 1:30 p.m. ET to discuss the results. Investors can access a replay of the call and a transcript on the company's investor relations website. Rand focuses on providing alternative financing for lower middle market companies, aiming for long-term returns through investments in businesses with revenue exceeding $2 million.
Rand Capital Corporation (NASDAQ: RAND) has successfully closed a $25 million senior secured revolving credit facility with M&T Bank. This credit line is intended to support future portfolio investments and enhance the company's liquidity. The facility features a 5-year term at an interest rate calculated using SOFR plus 3.5%. CEO Daniel P. Penberthy highlighted that this arrangement provides greater flexibility and a stronger funding commitment compared to their previous SBA credit agreement repaid in Q4 2021.
Rand Capital Corporation (Nasdaq: RAND) reported an 11% increase in total investment income to $1.1 million for Q1 2022 compared to the previous year. The company's net investment income rose to $772,000, or $0.30 per share, compared to a loss of $2.2 million, or $0.84 per share, in Q1 2021. NAV declined 1% to $23.23 due to market value changes. A regular dividend of $0.15 per share was declared for Q2 2022. The Board renewed a $1.5 million share repurchase program, allowing future stock buybacks based on market conditions.
Rand Capital Corporation (Nasdaq: RAND) has declared a quarterly cash dividend of $0.15 per share, payable on June 15, 2022, to shareholders of record as of June 1, 2022. With approximately 2.6 million shares outstanding as of March 31, 2022, the company aims to maximize total returns through investments in lower middle market companies. The Board reviews taxable income estimates before declaring dividends, with final tax attributes determined post fiscal year.
Rand Capital Corporation (NASDAQ: RAND) will announce its first quarter 2022 financial results before market opening on May 9, 2022. The company specializes in providing alternative financing to lower middle-market companies. Following the earnings release, Rand will conduct a conference call at 1:30 p.m. ET to discuss the results, which will be accessible via phone and webcast. A replay of the call will be available until May 16, 2022. Investors can find further details and updates on the company's official website.
Rand Capital Corporation (NASDAQ: RAND) announced the election of Cari Jaroslawsky to its Board of Directors, succeeding Allen F. Grum, whose term expired. With this appointment, the board now consists of five members, four of whom are independent. Robert M. Zak, Chair of the Board, highlighted Jaroslawsky's extensive operations and finance expertise as beneficial for the company's growth and investment initiatives. Jaroslawsky has over 25 years of experience in aerospace engineering and finance, currently serving at Eaton (NYSE: ETN) and previously as CFO at Servotronics.
Rand Capital Corporation (Nasdaq: RAND) reported a 31% increase in total investment income, achieving $4.1 million for 2021. The fourth quarter saw income rise by 17% to $1.2 million. Net asset value per share rose to $23.54, up 32% year-over-year. In 2021, they declared total dividends of $0.44 per share and announced a 50% increase in the first quarter 2022 dividend to $0.15 per share. Total investments for the year reached $19.7 million. Rand repaid $11 million in SBA obligations in Q4, enhancing financial flexibility.
Rand Capital Corporation (NASDAQ: RAND) will release its fourth quarter 2021 financial results on March 8, 2022. A conference call is scheduled for March 11, 2022, at 1:30 p.m. ET, where the results will be discussed. Interested participants can join by phone or via webcast. The company focuses on providing alternative financing for lower middle market companies with revenue exceeding $2 million and aims for a total return to shareholders through income and capital appreciation.
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