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 significant growth for Q1 2021, achieving total investment income of $6.7 million and exits of $4.5 million. Notably, net asset value rose 17%, driven by the IPO of ACV Auctions Inc. The adjusted net investment income per share was $0.16, despite a net investment loss of $2.2 million. Cash reserves stood at $14.9 million, representing 28% of net assets. The Board also renewed a $1.5 million share repurchase program to enhance shareholder value. Rand's focus on income-producing investments continues to strengthen its portfolio.
Rand Capital Corporation (Nasdaq: RAND) announced a quarterly cash dividend of $0.10 per share, scheduled for payment on June 16, 2021, to shareholders on record as of June 2, 2021. The company has approximately 2.6 million shares outstanding as of March 31, 2021. Future dividends depend on the Board's discretion, considering factors like taxable income, unrealized appreciation, and spillover income from previous years. Rand focuses on maximizing returns through investments in lower middle-market companies with sustainable products and revenue growth.
Rand Capital Corporation (Nasdaq: RAND) will release its first quarter 2021 financial results on May 10, 2021, before market opening. Following the release, a conference call will be held at 1:30 p.m. ET to discuss the results and corporate strategies, with a Q&A session afterward. Telephonic replay will be available until May 17, 2021. Rand Capital, a Business Development Company, focuses on maximizing shareholder returns through investments in lower middle market companies with over $2 million in revenue or $5 million in EBITDA.
Rand Capital Corporation (Nasdaq: RAND) announced that its Annual Meeting of Shareholders will be held virtually on April 22, 2021, at 10:30 a.m. Eastern Time due to COVID-19. Shareholders of record as of March 5, 2021, can participate online. The Company, a Business Development Company, aims to maximize returns through investments in lower middle market companies. Rand emphasizes the importance of proxy voting in advance of the meeting.
Rand Capital Corporation (Nasdaq: RAND) has invested approximately $4.5 million into two new portfolio companies primarily through debt instruments with equity components. This includes a term loan for Seybert’s Billiard Supply, which plans to enhance its e-commerce presence and marketing efforts. Additionally, Rand partnered with Callodine Strategic Credit and Baymark Capital to form a fire protection platform from the merger of Swanson Fire Protection and Residential & Commercial Fire Protection, which has shown historical revenue growth since 2017.
Rand Capital Corporation (Nasdaq:RAND) congratulates ACV Auctions Inc. on its successful initial public offering (IPO). CEO Pete Grum expressed pride in Rand's early investment in ACV, highlighting its rapid technological advancement and the positive impact on the Buffalo community. Rand invested in ACV Auctions by acquiring Series Seed II Preferred stock in August 2016, and now holds 590,580 shares of ACV's common stock following the IPO. This milestone underscores Rand's commitment to maximizing returns by investing in innovative companies.
Rand Capital Corporation (NASDAQ: RAND) reported its financial results for the year ending December 31, 2020. The Company declared a special dividend of $23.7 million, representing $1.62 per share. Net investment income surged to $738,000, up from $100,000 year-over-year. Total expenses decreased by 28% due to external management and reduced stockholder costs. The portfolio consisted of 36 companies, with 50% in equity investments and a 12.7% yield on debt investments. Cash and cash equivalents stood at $20.4 million, or 44% of net assets. A conference call is scheduled for March 8, 2021.
Rand Capital Corporation (Nasdaq: RAND) has declared its first regular quarterly cash dividend of $0.10 per share, scheduled for payment on March 29, 2021, to shareholders of record as of March 15, 2021. With approximately 2.6 million shares outstanding, the annualized dividend rate is set at $0.40. The company holds around $23 million in liquidity for new investments, indicating a strategy to enhance net investment income and potentially increase dividends over time.
Rand Capital Corporation (Nasdaq: RAND) announced it will release its fourth quarter and full year 2020 financial results on March 8, 2021, before market opening. A conference call will follow at 1:30 p.m. Eastern Time to discuss results and corporate strategies, with a Q&A session included. A replay of the call will be available until March 15, 2021. Rand Capital focuses on maximizing total returns to shareholders through investments in lower middle market companies with proven revenue streams.
Rand Capital Corporation (Nasdaq: RAND) has declared a 2020 cash dividend of $1.33 per share, expected to be paid on or about January 19, 2021 to shareholders of record as of December 31, 2020. This cash dividend comprises over 90% of the estimated taxable income for 2020. The company aims to adopt a quarterly dividend distribution method in 2021 while electing to be treated as a regulated investment company (RIC). Earlier this year, Rand paid a dividend of $1.62 per share, representing accumulated earnings through 2019.
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