Royce Micro-Cap Trust, Inc. (NYSE-RMT) declares Second Quarter Common Stock Distribution of $0.19 Per Share

Rhea-AI Summary

Royce Micro-Cap Trust (NYSE-RMT) has announced a quarterly distribution of $0.19 per share on its Common Stock, payable on June 25, 2021, to stockholders of record as of June 11, 2021. This continues the Fund's policy of distributing an annual rate of 7% based on the average of the previous four quarter-end net asset values. A portion of the distribution may be a return of capital. The estimated allocations indicate that the distribution includes both short-term and long-term gains.

Positive

• Quarterly distribution of $0.19 per share enhances shareholder value.
• Consistent annual distribution policy of 7% based on NAV reflects stable distributions.

Negative

• Distribution may include a return of capital, which does not indicate the Fund's investment performance.

NEW YORK, June 1, 2021 /PRNewswire/ -- Royce Micro-Cap Trust, Inc. (NYSE-RMT) has declared a quarterly distribution of $0.19 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 25, 2021 to stockholders of record at the close of business on June 11, 2021 (ex-dividend on June 10, 2021).  The price of shares issued for reinvestment will be determined on June 18, 2021.

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 estimates that it has distributed more than its income and net realized capital gains; therefore, a portion of your distribution may be a return of capital. A return of capital may occur, for example, when some or all of the money that you invested in the Fund is paid back to you. A return of capital distribution does not necessarily reflect the Fund's investment performance and should not be confused with 'yield' or 'income'.

The Fund's estimated sources of the distribution to be paid on June 25, 2021 and for 2021 year-to-date are as follows:

Estimated Allocations as of May 31, 2021

Fund	Distribution Per Share	Net Investment Income	Net Realized Short-Term Gains	Net Realized Long-Term Gains	Return of Capital
RMT	$0.19	$0.00 (0%)	$0.0335 (18%)	$0.0799 (42%)	$0.0766 (40%)

Estimated Allocations for 2021 through May 31, 2021

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%)	$0.0617 (18%)	$0.1472 (42%)	$0.1411 (40%)

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 5/31/2021)1	Annualized Current Distribution Rate (expressed as a percentage of NAV as of 5/31/2021)2	Cumulative Total Return (in relation to NAV for the fiscal year through 5/31/2021)3	Cumulative Fiscal Year Distribution Rate (as a percentage of NAV as 5/31/2021)4
RMT	18.70%	5.53%	18.21%	2.55%

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, 2021.  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, 2021`.

³  Cumulative Total Return is the percentage change in the Fund's NAV from December 31, 2020 to May 31, 2021 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, 2021 to May 31, 2021), as a percentage of the Fund's NAV as of May 31, 2021.

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 micro-cap companies.

For further information on The Royce Funds^sm, please visit our web site at: www.royceinvest.com.

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SOURCE Royce Micro-Cap Trust

FAQ

What is the distribution rate of Royce Micro-Cap Trust (RMT) for the second quarter of 2021?

The distribution rate is $0.19 per share.

When will the distribution be paid to RMT stockholders?

The distribution will be paid on June 25, 2021.

What is the annual distribution policy for RMT?

Royce Micro-Cap Trust pays an annual distribution rate of 7% based on the rolling average of the prior four quarter-end NAVs.

Are RMT distributions a return of capital?

Yes, a portion of the distribution may be a return of capital, which does not reflect the Fund's investment performance.

How much has RMT distributed year-to-date in 2021?

Royce Micro-Cap Trust has distributed $0.35 per share year-to-date.