Welcome to our dedicated page for Rand Capital news (Ticker: RAND), a resource for investors and traders seeking the latest updates and insights on Rand Capital stock.
Rand Capital (RAND) combines publishing heritage with modern investment management through its closed-end fund structure. This news hub provides investors with essential updates on strategic decisions, financial performance, and market positioning across both sectors.
Access authoritative coverage of earnings reports, portfolio company developments, and capital allocation strategies. Our curated collection includes press releases on acquisitions, risk management initiatives, and shareholder return programs – all critical for assessing RAND's dual revenue streams.
Key focus areas include updates from portfolio holdings like Lumious and GiveGab, dividend announcements, and analyses of the company's balance between income generation and capital appreciation. Bookmark this page for real-time insights into how RAND navigates competitive markets while maintaining its unique hybrid operational model.
Rand Capital Corporation (Nasdaq: RAND) announced the retirement of President and CEO Allen F. “Pete” Grum, effective December 1, 2021. He will transition to Vice Chair of the Board. Daniel P. Penberthy, currently the Executive Vice President and CFO, has been appointed as the new President and CEO. Margaret Brechtel has been promoted to Executive Vice President and CFO. Additionally, Robert M. Zak will replace Erland “Erkie” Kailbourne as Chair of the Board. The company emphasizes its commitment to transforming its operations and enhancing shareholder value.
Rand Capital Corporation (Nasdaq: RAND) will announce its third quarter 2021 financial results on November 5, 2021, prior to market opening. The Company plans to host a conference call at 12:30 p.m. ET the same day to discuss these results and its corporate strategies. Shareholders can access the conference call via phone or webcast, with a replay available post-call until November 12, 2021. Rand Capital is a business development company focused on investments in lower middle-market companies, targeting those with revenues above $2 million.
Rand Capital Corporation (NASDAQ: RAND) announced the sale of all its equity holdings in Centivo Corporation, netting gross proceeds of approximately $2.4 million. This transaction, which generated an estimated gain of $1.6 million, aligns with Rand's strategy to exit equity investments and reinvest in income-generating assets. The holdings in Centivo represented 2.4% of Rand's net assets as of June 30, 2021. The company continues to focus on maximizing total returns for its shareholders by investing in lower middle-market companies.
Rand Capital Corporation (Nasdaq: RAND) reported a net investment loss of $811,000 or $0.31 per share for Q2 2021, compared to a net investment income of $199,000 or $0.08 per share in the same period last year. Total investment income grew by 20% to $811,000, driven by increased interest and dividend income. Total expenses surged to $1.6 million, reflecting a capital gains incentive fee of $1.1 million. Net assets rose 8% from the previous quarter to $58.1 million, primarily due to unrealized appreciation of investments.
Rand Capital Corporation (Nasdaq: RAND) has declared a regular quarterly cash dividend of $0.10 per share, set for distribution on or about September 16, 2021. Shareholders of record as of September 2, 2021 will receive this payout. As of June 30, 2021, Rand had approximately 2.6 million shares outstanding. The company focuses on maximizing total return through investments in privately-held lower middle-market companies.
Rand Capital Corporation (Nasdaq: RAND) will release its second quarter 2021 financial results on August 9, 2021, before market opening. The Company will hold a conference call at 1:30 p.m. ET on the same day for results review and corporate strategy discussion, followed by a Q&A session. A telephonic replay will be available from 4:30 p.m. ET on the same day through August 16, 2021. Rand Capital is a Business Development Company focused on maximizing total returns through investments in privately-held, lower middle-market companies.
Rand Capital Corporation (Nasdaq: RAND) reported significant growth for Q1 2021, achieving total investment income of $6.7 million and exits of $4.5 million. Notably, net asset value rose 17%, driven by the IPO of ACV Auctions Inc. The adjusted net investment income per share was $0.16, despite a net investment loss of $2.2 million. Cash reserves stood at $14.9 million, representing 28% of net assets. The Board also renewed a $1.5 million share repurchase program to enhance shareholder value. Rand's focus on income-producing investments continues to strengthen its portfolio.
Rand Capital Corporation (Nasdaq: RAND) announced a quarterly cash dividend of $0.10 per share, scheduled for payment on June 16, 2021, to shareholders on record as of June 2, 2021. The company has approximately 2.6 million shares outstanding as of March 31, 2021. Future dividends depend on the Board's discretion, considering factors like taxable income, unrealized appreciation, and spillover income from previous years. Rand focuses on maximizing returns through investments in lower middle-market companies with sustainable products and revenue growth.
Rand Capital Corporation (Nasdaq: RAND) will release its first quarter 2021 financial results on May 10, 2021, before market opening. Following the release, a conference call will be held at 1:30 p.m. ET to discuss the results and corporate strategies, with a Q&A session afterward. Telephonic replay will be available until May 17, 2021. Rand Capital, a Business Development Company, focuses on maximizing shareholder returns through investments in lower middle market companies with over $2 million in revenue or $5 million in EBITDA.
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