Royce Small-Cap Trust, Inc. (formerly Royce Value Trust, Inc.) (NYSE-RVT) declares Second Quarter Common Stock Distribution of $0.28 Per Share

Rhea-AI Summary

Royce Small-Cap Trust (NYSE-RVT) has declared a second-quarter distribution of $0.28 per share on its common stock, payable in cash or additional shares on June 24, 2024. The distribution follows the Fund's policy of quarterly payouts at an annual rate of 7% based on the average NAV of the past four quarters. The distribution, mostly derived from long-term gains (77%), reflects a solid performance with an 11.93% average annual return over five years. Investors should note that these figures are estimates and the actual tax implications will be detailed in the Form 1099-DIV.

Positive

• Quarterly distribution of $0.28 per share, payable in cash or additional shares.
• Annual distribution rate of 7% based on the rolling average of the prior four quarter-end NAVs.
• 77% of the distribution is derived from net realized long-term gains.
• Average annual total return of 11.93% over the past five years.
• No return of capital in the distribution, indicating strong income sources.

Negative

• Only 3% of the distribution comes from net investment income.
• Cumulative total return of 6.31% for the fiscal year is lower than the five-year average return.
• Current fiscal year distribution rate of 6.54% is lower than the projected annual rate of 7%.

News Market Reaction

-0.27%

1 alert

-0.27% News Effect

On the day this news was published, RVT declined 0.27%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

NEW YORK, June 3, 2024 /PRNewswire/ -- Royce Small-Cap Trust, Inc. (NYSE-RVT) has declared a quarterly distribution of $0.28 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 June 24, 2024 to stockholders of record at the close of business on June 13, 2024 (ex-dividend on June 13, 2024). The price of shares issued for reinvestment will be determined on June 20, 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's estimated sources of the distribution to be paid on June 24, 2024 and for 2024 year-to-date are as follows:

Estimated Allocations as of May 31, 2024

Fund	Distribution Per Share	Net Investment Income	Net Realized Short-Term Gains	Net Realized Long-Term Gains	Return of Capital
RVT	$0.28	$0.0090 (3 %)	$0.0558 (20 %)	$0.2152 (77 %)	$0.00 (0 %)

 Estimated Allocations for 2024 through May 31, 2024

Fund	Distribution Per Share	Net Investment Income	Net Realized Short-Term Gains	Net Realized Long-Term Gains	Return of Capital
RVT	$0.55	$0.0177 (3 %)	$0.1097 (20 %)	$0.4226 (77 %)	$0.00 (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 5/31/2024)1	Annualized Current Distribution Rate (expressed as a percentage of NAV as of 5/31/2024)2	Cumulative Total return (in relation to NAV for the fiscal year through 5/31/2024)3	Cumulative Fiscal year Distribution Rate (as a percentage of NAV as of 5/31/2024)4
RVT	11.93 %	6.54 %	6.31 %	3.21 %

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 May 31, 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 May 31, 2024.

³ Cumulative Total Return is the percentage change in the Fund's NAV from December 31, 2023 to May 31, 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 May 31, 2024), as a percentage of the Fund's NAV as of May 31, 2024.

About Royce Small-Cap Trust, Inc.

Royce Small-Cap Trust, Inc. (the "Fund") 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 primary investment goal is long-term capital growth. Effective May 1, 2024, the Fund invests at least 80% of its net assets in equity securities of small-cap companies (i.e., those that have a market capitalization not greater than that of the largest company in the Russell 2000® Index at the time of its most recent reconstitution) under normal circumstances.

 

View original content:https://www.prnewswire.com/news-releases/royce-small-cap-trust-inc-formerly-royce-value-trust-inc-nyse-rvt-declares-second-quarter-common-stock-distribution-of-0-28-per-share-302162299.html

SOURCE Royce & Associates

FAQ

What is the second-quarter distribution per share for RVT?

The second-quarter distribution per share for RVT is $0.28.

When will the RVT second-quarter distribution be paid?

The RVT second-quarter distribution will be paid on June 24, 2024.

What is the annual distribution rate for RVT?

The annual distribution rate for RVT is 7% of the rolling average of the prior four calendar quarter-end NAVs.

How is the RVT distribution allocated?

The RVT distribution is allocated as 3% net investment income, 20% net realized short-term gains, and 77% net realized long-term gains.

What was RVT's average annual total return over the past five years?

RVT's average annual total return over the past five years was 11.93%.