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) has declared a regular quarterly cash dividend of $0.15 per share, an increase of $0.05 from the previous year. The dividend will be paid on or about March 28, 2022, to shareholders on record by March 14, 2022. This increase reflects the company's strategic shift towards more income-producing investments, as noted by CEO Daniel P. Penberthy. The Board of Directors' decisions on dividends will depend on various factors including taxable income and other financial metrics.
Rand Capital Corporation (NASDAQ: RAND) announced a quarterly dividend of $0.10 per share and a supplemental dividend of $0.04 per share, totaling $0.14. The dividends will be distributed on or about December 31, 2021, to shareholders of record as of December 20, 2021. This payment reflects additional taxable income from previous years, offset by increased expenses from the surrender of its SBIC license. Future dividends remain at the Board's discretion, based on taxable income estimates which may differ from net income.
Rand Capital Corporation (NASDAQ: RAND) reported a 37% increase in total investment income for Q3 2021, reaching $1.0 million. The net asset value (NAV) per share rose 4% to $23.31. The company made a new investment of $3.8 million in DSD Operating, while also exiting its investment in Centivo Corporation with a recognized gain of $1.6 million. Cash and cash equivalents totaled $13.3 million, representing 22.1% of net assets. In efforts to simplify operations, Rand repaid $11 million of SBA obligations and plans to surrender its SBIC license.
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.
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