Rand Capital Corporation Announces Shareholder Election Results for Fourth Quarter 2024 Stock and Cash Dividend
Rand Capital (NASDAQ: RAND) announced shareholder election results for its Q4 2024 dividend of $4.20 per share, totaling approximately $10.8 million. The dividend payment structure includes a 20% cash component (approximately $2.2 million) and the remaining 80% in stock (approximately $8.7 million).
The stock portion will be distributed based on a volume-weighted average price of $22.30, resulting in approximately 389,000 new shares. After distribution, total shares outstanding will be approximately 2.97 million. While 98% of shareholders elected for cash dividends, due to the cash limitation, they will receive a pro-rated distribution of approximately 20.4% cash and 79.6% stock. The dividend distribution is scheduled for January 24, 2025.
Rand Capital (NASDAQ: RAND) ha annunciato i risultati delle votazioni degli azionisti per il dividendo del quarto trimestre 2024 di $4.20 per azione, per un totale di circa $10.8 milioni. La struttura del pagamento del dividendo include un 20% in contante (circa $2.2 milioni) e l' 80% rimanente in azioni (circa $8.7 milioni).
La parte in azioni sarà distribuita sulla base di un prezzo medio ponderato per volume di $22.30, risultando in circa 389.000 nuove azioni. Dopo la distribuzione, il numero totale di azioni in circolazione sarà di circa 2.97 milioni. Sebbene il 98% degli azionisti abbia scelto dividendi in contante, a causa del limite di liquidità, riceveranno una distribuzione pro-rata di circa il 20.4% in contante e il 79.6% in azioni. La distribuzione del dividendo è programmata per il 24 gennaio 2025.
Rand Capital (NASDAQ: RAND) anunció los resultados de la elección de accionistas para su dividendo del cuarto trimestre de 2024 de $4.20 por acción, que totaliza aproximadamente $10.8 millones. La estructura de pago del dividendo incluye un 20% en efectivo (aproximadamente $2.2 millones) y el 80% restante en acciones (aproximadamente $8.7 millones).
La parte de acciones se distribuirá en función de un precio promedio ponderado por volumen de $22.30, dando como resultado aproximadamente 389,000 nuevas acciones. Tras la distribución, el total de acciones en circulación será de aproximadamente 2.97 millones. Aunque el 98% de los accionistas eligieron dividendos en efectivo, debido al límite de liquidez, recibirán una distribución prorrateada de aproximadamente el 20.4% en efectivo y el 79.6% en acciones. La distribución del dividendo está programada para el 24 de enero de 2025.
란드 캐피탈 (NASDAQ: RAND)이 2024년 4분기 배당금으로 주주 투표 결과를 발표했습니다. 배당금은 주당 $4.20로 약 $10.8 백만에 해당합니다. 배당 지급 구조는 20% 현금 구성 요소 (약 $2.2 백만)와 나머지 80% 주식 (약 $8.7 백만)을 포함합니다.
주식 부분은 $22.30의 거래량 가중 평균 가격을 기준으로 배분되어 약 389,000개의 신규 주식이 지급됩니다. 분배 후 총 발행 주식 수는 약 2.97 백만 주가 됩니다. 98%의 주주가 현금 배당금을 선택했지만, 현금 한도로 인해 약 20.4%의 현금과 79.6%의 주식을 비례 배분받게 됩니다. 배당금 지급은 2025년 1월 24일로 예정되어 있습니다.
Rand Capital (NASDAQ: RAND) a annoncé les résultats des élections des actionnaires pour son dividende du quatrième trimestre 2024 de $4.20 par action, totalisant environ $10.8 millions. La structure de paiement du dividende inclut un composant en espèces de 20% (environ $2.2 millions) et les 80% restants en actions (environ $8.7 millions).
La partie en actions sera distribuée sur la base d'un prix moyen pondéré par volume de $22.30, ce qui donne environ 389 000 nouvelles actions. Après la distribution, le nombre total d'actions en circulation sera d'environ 2,97 millions. Bien que 98% des actionnaires aient opté pour des dividendes en espèces, en raison de la limite de liquidités, ils recevront une distribution au prorata d'environ 20,4% en espèces et 79,6% en actions. La distribution du dividende est prévue pour le 24 janvier 2025.
Rand Capital (NASDAQ: RAND) hat die Ergebnisse der Aktionärswahlen für seine Dividende im vierten Quartal 2024 von 4,20 $ pro Aktie bekannt gegeben, was insgesamt etwa 10,8 Millionen $ ausmacht. Die Struktur der Dividendenzahlung beinhaltet einen 20%igen Baranteil (ca. 2,2 Millionen $) und die verbleibenden 80% in Aktien (ca. 8,7 Millionen $).
Der Aktienanteil wird basierend auf einem volumen-weighted Durchschnittspreis von 22,30 $ verteilt, was etwa 389.000 neuen Aktien entspricht. Nach der Verteilung werden die insgesamt ausgegebenen Aktien etwa 2,97 Millionen betragen. Während 98% der Aktionäre Bar-Dividenden gewählt haben, werden sie aufgrund der Barbeschränkung eine anteilige Verteilung von etwa 20,4% in bar und 79,6% in Aktien erhalten. Die Dividendenverteilung ist für den 24. Januar 2025 geplant.
- Substantial dividend declaration of $4.20 per share, totaling $10.8 million
- Strong shareholder preference for cash dividends (98% election)
- cash dividend component (20%) despite high cash election preference
- Significant share dilution with 389,000 new shares being issued
Insights
The announcement of Rand Capital's Q4 2024 dividend represents a substantial
This dividend structure effectively preserves capital within the company while still providing shareholder returns. The stock portion of the dividend will increase the outstanding shares by approximately 389,000 to 2.97 million, representing a notable dilution of about
For retail investors, this mixed dividend approach signals careful capital management by Rand, a critical consideration for BDCs that need to maintain strong liquidity for their lending operations. The high percentage of stock distribution helps retain capital for future investments while still meeting dividend obligations.
The overwhelming shareholder preference for cash (
The forced conversion of most cash elections to stock distribution could create near-term selling pressure as some shareholders liquidate their newly received shares to achieve their desired cash position. This potential selling pressure, combined with the dilutive effect of issuing approximately 389,000 new shares, could impact short-term stock price performance.
The
The total amount of the dividend to be paid in cash is limited to
Approximately
The cash and stock representing the dividend will be distributed on or about January 24, 2025.
ABOUT RAND CAPITAL CORPORATION
Rand Capital Corporation (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 primarily invests in businesses that have sustainable, differentiated and market-proven products, revenue of more than
View source version on businesswire.com: https://www.businesswire.com/news/home/20250113529655/en/
Company:
Daniel P. Penberthy
President and CEO
716-853-0802
dpenberthy@randcapital.com
Investors:
Deborah K. Pawlowski / Craig P. Mychajluk
Alliance Advisors IR
716-843-3908 / 716-843-3832
dpawlowski@allianceadvisors.com / cmychajluk@allianceadvisors.com
Source: Rand Capital Corporation
FAQ
What is the amount of Rand Capital's (RAND) Q4 2024 dividend?
How will RAND's Q4 2024 dividend be paid to shareholders?
When will RAND distribute its Q4 2024 dividend?
How many new shares will RAND issue for the Q4 2024 dividend?
What percentage of RAND shareholders elected to receive cash dividends?
