Royce Micro-Cap Trust, Inc. (NYSE: RMT) declares Second Quarter Common Stock Distribution of $0.23 Per Share

Rhea-AI Summary

Royce Micro-Cap Trust (NYSE: RMT) announced a quarterly cash distribution of $0.23 per share, payable on June 24, 2022, to stockholders on record as of June 13, 2022. The fund maintains a 7% annual distribution policy based on rolling average net asset values. The current distribution may include a return of capital, which is not indicative of fund performance. For 2022, total estimated distributions per share are $0.46, with 8.63% as the annualized current distribution rate as of May 31, 2022.

Positive

• Quarterly distribution declared at $0.23 per share.
• Annual distribution policy set at 7% of rolling average NAV.
• Annualized current distribution rate of 8.63% as of May 31, 2022.

Negative

• A portion of the distribution may be a return of capital, not reflecting investment performance.
• Cumulative total return for the fiscal year is -16.59%.

NEW YORK, June 1, 2022 /PRNewswire/ -- Royce Micro-Cap Trust, Inc. (NYSE: RMT) has declared a quarterly distribution of $0.23 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, 2022 to stockholders of record at the close of business on June 13, 2022 (ex-dividend on June 10, 2022).  The price of shares issued for reinvestment will be determined on June 20, 2022.

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 24, 2022 and for 2022 year-to-date are as follows:

Estimated Allocations as of May 31, 2022
Fund	Distribution Per Share	Net Investment Income	Net Realized Short-Term Gains	Net Realized Long-Term Gains	Return of Capital
RMT	$0.23	$0.00 (0%)	$0.0115 (5%)	$0.1356 (59%)	$0.0829 (36%)

 

Estimated Allocations for 2022 through May 31, 2022
Fund	Distribution Per Share	Net Investment Income	Net Realized Short-Term Gains	Net Realized Long-Term Gains	Return of Capital
RMT	$0.46	$0.00 (0%)	$0.0230 (5%)	$0.2713 (59%)	$0.1657 (36%)

 

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 5/31/2022)1	Annualized Current Distribution Rate (expressed as a percentage of NAV as of 5/31/2022)2	Cumulative Total Return (in relation to NAV for the fiscal year through 5/31/2022)3	Cumulative Fiscal Year Distribution Rate (as a percentage of NAV as 5/31/2022)4
RMT	10.60%	8.63%	-16.59%	4.32%

 

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, 2022.  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, 2022.

³  Cumulative Total Return is the percentage change in the Fund's NAV from December 31, 2021 to May 31, 2022 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, 2022 to May 31, 2022), as a percentage of the Fund's NAV as of May 31, 2022.

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. 

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 quarterly distribution amount for RMT?

Royce Micro-Cap Trust (RMT) has declared a quarterly distribution of $0.23 per share.

When will the RMT distribution be paid?

The distribution will be paid on June 24, 2022.

What is the record date for RMT's distribution?

The record date for the distribution is June 13, 2022.

What is the annual distribution policy for RMT?

RMT's annual distribution policy is set at 7% of the rolling average of the prior four calendar quarter-end NAVs.

What is the annualized current distribution rate for RMT?

The annualized current distribution rate for RMT is 8.63% as of May 31, 2022.

What does return of capital mean for RMT's distribution?

A return of capital may indicate that some or all of your investment is being paid back, which doesn't reflect the fund's investment performance.