Rand Capital Announces Second Quarter Dividend of $0.10 per share
April 29 2021 - 4:15PM
Business Wire
Rand Capital Corporation (Nasdaq: RAND) (“Rand”), a business
development company (“BDC”), today announced that its Board of
Directors declared its regular quarterly cash dividend of $0.10 per
share. The cash dividend will be paid on or about June 16, 2021 to
shareholders of record as of June 2, 2021. At March 31, 2021, Rand
had approximately 2.6 million shares outstanding.
Additional Information Regarding Dividend Payments The
amount and timing of dividends, including future dividends, 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/20210429005934/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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