Business
Rand Capital Announces $0.29 per Share Cash Dividend for First Quarter 2025
Rand Capital Announces $0.29 per Share Cash Dividend for First Quarter 2025
About this update from Rand Capital Corporation
[{"type":"text","content":"\nReflects 15% increase in aggregate dividend amount distributed following recent stock issuance\n\n\n BUFFALO, N.Y.--(BUSINESS WIRE)--\nRand Capital Corporation (Nasdaq: RAND) (“Rand” or the “Company”), a business development company providing alternative financing for lower middle market companies, announced today that its Board of Directors declared a quarterly cash dividend of $0.29 per share. The cash dividend will be distributed on or about March 28, 2025, to shareholders of record as of March 14, 2025. Rand has approximately 3.0 million shares outstanding.\n\n\nDaniel P. Penberthy, President and CEO, commented, “In 2024, we reached several significant milestones that strengthened our ability to return capital to shareholders. Following our fourth quarter stock and cash dividend, we issued approximately 389,000 additional shares to investors. By maintaining our quarterly cash dividend at $0.29 per share, we are effectively delivering a 15% increase in total dividends distributed, demonstrating both the resilience of our business and our commitment to shareholder value. Looking ahead, we remain focused on sustainable dividend growth and long-term value creation.”\n\n\nAdditional Information Regarding Dividend Distributions\n\n\nThe amount and timing of dividend distributions, including future dividend distributions, 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.\n\n\nThe 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.\n\n\nABOUT RAND CAPITAL\n\n\nRand 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-h...