Rand Capital Announces $0.25 per Share Cash Dividend for Third Quarter 2023

Rhea-AI Summary

Rand Capital Corporation declares a quarterly cash dividend of $0.25 per share.

Positive

• Rand Capital Corporation has declared a quarterly cash dividend of $0.25 per share.
• This dividend is a positive sign for investors, as it indicates the company's ability to generate consistent cash flow.
• The dividend will be distributed to shareholders on or before the specified date.

Negative

• None.

BUFFALO, N.Y.--(BUSINESS WIRE)-- Rand Capital Corporation (Nasdaq: RAND) (“Rand”), a business development company providing alternative financing for lower middle market companies, announced today that its Board of Directors declared a quarterly cash dividend of $0.25 per share. The cash dividend will be distributed on or about September 14, 2023, to shareholders of record as of August 31, 2023. Rand has approximately 2.6 million shares outstanding.

Additional Information Regarding Dividend Distributions

The amount and timing of dividend distributions, including future dividend distributions, are subject to the discretion of Rand’s Board of Directors. When declaring distributions, Rand’s Board of Directors reviews estimates of taxable income available for distribution, which may differ from consolidated net income under generally accepted accounting principles due to (i) changes in unrealized appreciation and depreciation, (ii) temporary and permanent differences in income and expense recognition, and (iii) the amount of spillover income carried over from a given year for distribution in the following year.

The final determination of taxable income for each tax year, as well as the tax attributes for distributions in such tax year, will be made after the close of the tax year.

ABOUT RAND CAPITAL

Rand Capital (Nasdaq: RAND) is an externally managed business development company (BDC). The Company’s investment objective is to maximize total return to its shareholders with current income and capital appreciation by focusing its debt and related equity investments in privately-held, lower middle market companies with committed and experienced managements in a broad variety of industries. Rand invests in early to later stage businesses that have sustainable, differentiated and market-proven products, revenue of more than $2 million and a path to free cash flow or up to $5 million in EBITDA. The Company’s investment activities are managed by its external investment adviser, Rand Capital Management, LLC. Additional information can be found at the Company’s website where it regularly posts information: https://www.randcapital.com/.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230725523996/en/

Company:

Daniel P. Penberthy

President and CEO

716.853.0802

dpenberthy@randcapital.com

Investors:

Deborah K. Pawlowski / Craig P. Mychajluk

Kei Advisors LLC

716-843-3908 / 716-843-3832

dpawlowski@keiadvisors.com / cmychajluk@keiadvisors.com

Source: Rand Capital Corporation

FAQ

What is the dividend amount declared by Rand Capital Corporation?

Rand Capital Corporation has declared a quarterly cash dividend of $0.25 per share.

What does the dividend declaration indicate for investors?

The dividend declaration indicates that Rand Capital Corporation is generating consistent cash flow, which is a positive sign for investors.

When will the dividend be distributed to shareholders?

The dividend will be distributed on or before the specified date.