Rand Capital Announces Second Quarter Dividend of $0.10 per share

Rhea-AI Summary

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.

Positive

• Quarterly cash dividend of $0.10 per share reinforces shareholder returns.
• Focus on lower middle-market companies may provide growth opportunities.

Negative

• Dividends are subject to the discretion of the Board, indicating potential variability.
• Dependence on factors like unrealized gains and spillover income adds uncertainty.

Rand Capital Corporation (Nasdaq: RAND) (“Rand”), a business development company (“BDC”), today announced that its Board of Directors declared its regular quarterly cash dividend of $0.10 per share. The cash dividend will be paid on or about June 16, 2021 to shareholders of record as of June 2, 2021. At March 31, 2021, Rand had approximately 2.6 million shares outstanding.

Additional Information Regarding Dividend Payments
The amount and timing of dividends, including future dividends, 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) with a wholly-owned subsidiary licensed by the U.S. Small Business Administration (SBA) as a Small Business Investment Company (SBIC). 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 are already generating 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/. 

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FAQ

What is the dividend amount declared by Rand Capital for June 2021?

Rand Capital declared a quarterly cash dividend of $0.10 per share for June 2021.

When will the dividend be paid to shareholders of Rand Capital?

The dividend will be paid on June 16, 2021, to shareholders of record as of June 2, 2021.

How many shares outstanding does Rand Capital have as of March 31, 2021?

Rand Capital has approximately 2.6 million shares outstanding as of March 31, 2021.

Are future dividends guaranteed for Rand Capital shareholders?

No, future dividends are subject to the discretion of Rand's Board of Directors.

What factors affect the dividends declared by Rand Capital?

Dividends are influenced by taxable income, unrealized appreciation, and spillover income.