Royce Micro-Cap Trust, Inc. (NYSE-RMT) declares Fourth Quarter Common Stock Distribution of $0.21 Per Share

Rhea-AI Summary

Royce Micro-Cap Trust (NYSE-RMT) has announced a fourth quarter distribution of $0.21 per share on its Common Stock, payable on December 23, 2024. The distribution follows the Fund's policy of quarterly payments at an annual rate of 7% of the rolling average of prior four quarter-end NAVs. The Fund's performance metrics show a 14.13% average annual total return over the five-year period and a 19.30% cumulative total return for the fiscal year through November 30, 2024. The distribution comprises 4% from net investment income, 13% from short-term gains, 83% from long-term gains, and a minimal return of capital.

Positive

• Strong 19.30% cumulative total return for the fiscal year through November 30, 2024
• Solid 14.13% average annual total return over five years
• 83% of distribution comes from realized long-term gains
• Minimal return of capital (nearly 0%) indicating quality of earnings

Negative

• Only 4% of distribution comes from net investment income

Insights

Financial Analyst

This quarterly distribution announcement reveals strong performance metrics for RMT. The $0.21 per share distribution maintains a substantial 7.12% annualized distribution rate. The fund's performance is particularly noteworthy with a 19.30% cumulative total return for the fiscal year and a robust 14.13% 5-year average annual return.

The distribution composition is healthy, with 83% coming from long-term capital gains, indicating successful investment realizations. Only a minimal 0.0001% represents return of capital, suggesting sustainable distribution practices. The fund's strategy of distributing 7% of the rolling average NAV provides predictable income while maintaining investment flexibility.

NEW YORK, Dec. 2, 2024 /PRNewswire/ -- Royce Micro-Cap Trust, Inc. (NYSE-RMT) (the "Fund") has declared a fourth quarter distribution of $0.21 per share on its Common Stock. The distribution, optionally payable in additional shares of Common Stock, or in cash by specific stockholder election, is to be paid on December 23, 2024 to stockholders of record at the close of business on December 12, 2024 (ex-dividend on December 12, 2024). The price of shares issued for reinvestment will be determined on December 19, 2024. 

The Fund has adopted a Distribution Policy of paying quarterly distributions on its Common Stock. Distributions are being made at the annual rate of 7% of the rolling average of the prior four calendar quarter-end net asset values (NAVs), with the fourth quarter distribution being the greater of 1.75% of the rolling average or the minimum distribution required by IRS regulations. The policy, including the annual rate, is subject to change at the discretion of the Fund's Board of Directors.

The Fund estimates that it has distributed more than its income and net realized capital gains; therefore, a portion of your distribution may be a return of capital. A return of capital may occur, for example, when some or all of the money that you invested in the Fund is paid back to you. A return of capital distribution does not necessarily reflect the Fund's investment performance and should not be confused with 'yield' or 'income'.

The Fund's estimated sources of the distribution to be paid on December 23, 2024 and for 2024 year-to-date are as follows:

Estimated Allocations as of November 30, 2024

FUND	DISTRIBUTION PER SHARE	NET INVESTMENT INCOME	NET REALIZED SHORT-TERM GAINS	NET REALIZED LONG-TERM GAINS	RETURN OF CAPITAL
RMT	$0.21	$0.0088 (4 %)	$0.0280 (13 %)	$0.1731 (83 %)	$0.0001 (0 %)

Estimated Allocations for 2024 through November 30, 2024

FUND	DISTRIBUTION PER SHARE	NET INVESTMENT INCOME	NET REALIZED SHORT-TERM GAINS	NET REALIZED LONG-TERM GAINS	RETURN OF CAPITAL
RMT	$0.74	$0.0310 (4 %)	$0.0988 (13 %)	$0.6099 (83 %)	$0.0003 (0 %)

You should not draw any conclusions about the Fund's investment performance from the amount of the current distribution or from the terms of the Fund's Distribution Policy. The amounts and sources of distributions reported herein are only estimates and are not being provided for tax reporting purposes. The actual amounts and sources of the amounts for tax reporting purposes will depend upon the Fund's investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. The Fund will send you a Form 1099-DIV for the calendar year that will tell you how to report these distributions for federal income tax purposes.

Fund Performance and Distribution Rate Information:

Fund	Average Annual Total Return (in relation to NAV for the 5-year period ending on 11/30/2024)1	Annualized Current Distribution Rate (expressed as a percentage of NAV as of 11/30/2024)2	Cumulative total return (in relation to NAV for the fiscal year through 11/30/2024)3	Cumulative fiscal year Distribution Rate (as a percentage of NAV as 11/30/2024)4
RMT	14.13 %	7.12 %	19.30 %	6.27 %

¹ Average Annual Total Return in relation to NAV represents the compound average of the Annual NAV Total Returns of the Fund for the five year period ended November 30, 2024. Annual NAV Total Return is the percentage change in the Fund's NAV over a year, assuming reinvestment of distributions paid.

² The annualized Current Distribution Rate is the current fiscal period's distribution rate annualized as a percentage of the Fund's NAV as of November 30, 2024.

³ Cumulative Total Return is the percentage change in the Fund's NAV from December 31, 2023 to November 30, 2024, assuming reinvestment of distributions paid.

⁴ The Cumulative Fiscal Year Distribution Rate is the dollar value of distributions for the fiscal year period (January 1, 2024 to November 30, 2024), as a percentage of the Fund's NAV as of November 30, 2024.

About Royce Micro-Cap Trust, Inc.

Royce Micro-Cap Trust, Inc. is a closed-end diversified management investment company whose shares of Common Stock are listed and traded on the New York Stock Exchange. The Fund's investment goal is long-term capital growth, which it seeks by investing primarily in equity securities of companies that, at the time of investment, have market capitalizations of $750 million or less. 

For further information on The Royce Funds^sm, please visit our web site at: www.royceinvest.com.

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SOURCE Royce Micro-Cap Trust, Inc.

FAQ

What is the Q4 2024 dividend amount for Royce Micro-Cap Trust (RMT)?

Royce Micro-Cap Trust (RMT) declared a fourth quarter distribution of $0.21 per share, payable on December 23, 2024.

What is RMT's distribution yield as of November 30, 2024?

RMT's annualized current distribution rate is 7.12% of NAV as of November 30, 2024.

What is RMT's total return for fiscal year 2024 through November?

RMT achieved a cumulative total return of 19.30% for the fiscal year through November 30, 2024.

How is RMT's Q4 2024 distribution composed?

RMT's distribution comprises 4% from net investment income, 13% from short-term gains, 83% from long-term gains, and approximately 0% return of capital.