Rand Capital Announces Third Quarter Cash Dividend Distribution of $0.10 Per Share
July 29 2021 - 4:15PM
Business Wire
Rand Capital Corporation (Nasdaq: RAND) (“Rand”), a business
development company (“BDC”), announced today that its Board of
Directors declared its regular quarterly cash dividend distribution
of $0.10 per share. The cash dividend will be distributed on or
about September 16, 2021, to shareholders of record as of September
2, 2021. At June 30, 2021, Rand had approximately 2.6 million
shares outstanding.
Additional Information Regarding Dividend
Distributions
The 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. The 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.
ABOUT RAND CAPITAL
Rand Capital (Nasdaq: RAND) is an externally-managed Business
Development Company (BDC) with a wholly-owned subsidiary licensed
by the U.S. Small Business Administration (SBA) as a Small Business
Investment Company (SBIC). 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 invests in early to later stage businesses that
have sustainable, differentiated and market-proven products,
revenue of more than $2 million and a path to free cash flow or are
already generating up to $5 million in EBITDA. The Company’s
investment activities are managed by its external investment
adviser, Rand Capital Management, LLC. Additional information can
be found at the Company’s website where it regularly posts
information: https://www.randcapital.com/.
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version on businesswire.com: https://www.businesswire.com/news/home/20210729006003/en/
Company: Allen F. ("Pete") Grum President and CEO Phone:
716.853.0802 Email: pgrum@randcapital.com
Investors: Deborah K. Pawlowski Kei Advisors LLC Phone:
716.843.3908 Email: dpawlowski@keiadvisors.com
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