Royce Micro-Cap Trust, Inc. (NYSE-RMT) declares Second Quarter Common Stock Distribution of $0.18 Per Share

Rhea-AI Summary

Royce Micro-Cap Trust (NYSE-RMT) announced a quarterly distribution of $0.18 per share for Q2 2024, payable either in cash or additional common stock. The payment date is June 24, 2024, with a record date of June 13, 2024. The fund's annual distribution rate is 7% of the rolling average NAV of the prior four quarters. The sources of the distribution are 34% from short-term gains and 66% from long-term gains. For the fiscal year through May 31, 2024, RMT reported a total distribution per share of $0.35 and a fund performance return of 13.87% over the last five years. The policy and annual rate may be revised at the fund board's discretion.

Positive

• Quarterly distribution of $0.18 per share.
• Annual distribution rate of 7% based on the rolling average of prior four quarter-end NAVs.
• 34% of distribution from net realized short-term gains.
• 66% of distribution from net realized long-term gains.
• Fund's 5-year Average Annual Total Return at 13.87%.
• Flexibility for shareholders to receive distributions in cash or additional stocks.

Negative

• No net investment income contributing to the distribution.
• Potential changes to the policy and annual rate at the discretion of the board.
• Distributions and sources are estimates and not intended for tax reporting purposes.
• Fund's performance should not be inferred from distribution amounts.

NEW YORK, June 3, 2024 /PRNewswire/ -- Royce Micro-Cap Trust, Inc. (NYSE-RMT) has declared a quarterly distribution of $0.18 per share on its Common Stock. The distribution, optionally payable in additional shares of Common Stock, or in cash by specific stockholder election, is to be paid on June 24, 2024 to stockholders of record at the close of business on June 13, 2024 (ex-dividend on June 13, 2024). The price of shares issued for reinvestment will be determined on June 20, 2024.

The Fund has adopted a Distribution Policy of paying quarterly distributions on its Common Stock. Distributions are being made at the annual rate of 7% of the rolling average of the prior four calendar quarter-end net asset values (NAVs), with the fourth quarter distribution being the greater of 1.75% of the rolling average or the minimum distribution required by IRS regulations. The policy, including the annual rate, is subject to change at the discretion of the Fund's Board of Directors.

The Fund's estimated sources of the distribution to be paid on June 24, 2024 and for 2024 year-to-date are as follows:

Fund	Distribution Per Share	Net Investment Income	Net Realized Short-Term Gains	Net Realized Long-Term Gains	Return of Capital
RMT	$0.18	$0.00 (0 %)	$0.0612 (34 %)	$0.1188 (66 %)	$0.00 (0 %)

Estimated Allocations for 2024 through May 31, 2024

Fund	Distribution Per Share	Net Investment Income	Net Realized Short-Term Gains	Net Realized Long-Term Gains	Return of Capital
RMT	$0.35	$0.00 (0 %)	$0.1191 (34 %)	$0.2309 (66 %)	$0.00 (0 %)

You should not draw any conclusions about the Fund's investment performance from the amount of the current distribution or from the terms of the Fund's Distribution Policy. The amounts and sources of distributions reported herein are only estimates and are not being provided for tax reporting purposes. The actual amounts and sources of the amounts for tax reporting purposes will depend upon the Fund's investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. The Fund will send you a Form 1099-DIV for the calendar year that will tell you how to report these distributions for federal income tax purposes.

Fund Performance and Distribution Rate Information:

Fund	Average Annual Total Return (in relation to NAV for the 5-year period ending on 5/31/2024)1	Annualized Current Distribution Rate (expressed as a percentage of NAV as of 5/31/2024)2	Cumulative Total Return (in relation to NAV for the fiscal year through 5/31/2024)3	Cumulative Fiscal Year Distribution Rate (as a percentage of NAV as 5/31/2024)4
RMT	13.87 %	6.47 %	8.31 %	3.14 %

¹ Average Annual Total Return in relation to NAV represents the compound average of the Annual NAV Total Returns of the Fund for the five-year period ended May 31, 2024. Annual NAV Total Return is the percentage change in the Fund's NAV over a year, assuming reinvestment of distributions paid.

² The Annualized Current Distribution Rate is the current fiscal period's distribution rate annualized as a percentage of the Fund's NAV as of May 31, 2024.

³ Cumulative Total Return is the percentage change in the Fund's NAV from December 31, 2023 to May 31, 2024, assuming reinvestment of distributions paid.

⁴ The Cumulative Fiscal Year Distribution Rate is the dollar value of distributions for the fiscal year period (January 1, 2024 to May 31, 2024), as a percentage of the Fund's NAV as of May 31, 2024.

About Royce Micro-Cap Trust, Inc.
Royce Micro-Cap Trust, Inc. is a closed-end diversified management investment company whose shares of Common Stock are listed and traded on the New York Stock Exchange. The Fund's investment goal is long-term capital growth, which it seeks by investing primarily in equity securities of companies that, at the time of investment, have market capitalizations of $750 million or less.

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SOURCE Royce & Associates

FAQ

What is the quarterly distribution for Royce Micro-Cap Trust (RMT) in Q2 2024?

The quarterly distribution for RMT in Q2 2024 is $0.18 per share.

When will the RMT Q2 2024 distribution be paid?

The RMT Q2 2024 distribution will be paid on June 24, 2024.

What is the record date for the RMT Q2 2024 distribution?

The record date for the RMT Q2 2024 distribution is June 13, 2024.

How is the RMT Q2 2024 distribution funded?

The RMT Q2 2024 distribution is funded 34% from net realized short-term gains and 66% from net realized long-term gains.

What is the annual distribution rate for Royce Micro-Cap Trust (RMT)?

The annual distribution rate for RMT is 7% of the rolling average of the prior four quarter-end NAVs.

Can shareholders choose to receive their RMT distribution in cash or stock?

Yes, shareholders can choose to receive their RMT distribution in cash or additional shares of common stock.

What is the 5-year Average Annual Total Return for Royce Micro-Cap Trust (RMT)?

The 5-year Average Annual Total Return for RMT is 13.87%.