Royce Small-Cap Trust, Inc. (NYSE-RVT) declares First Quarter Common Stock Distribution of $0.30 Per Share

Rhea-AI Summary

Royce Small-Cap Trust (NYSE:RVT) declared a quarterly common stock distribution of $0.30 per share, payable March 30, 2026, to holders of record at the close of business March 12, 2026 (ex-dividend March 12, 2026).

Shareholders may elect cash or reinvestment; reinvestment pricing will be determined March 20, 2026. The Fund uses a quarterly Distribution Policy targeting an annual rate of 7% of the rolling four-quarter average NAV (fourth-quarter minimums apply). Estimated allocation: 0% net investment income, 32% net realized short-term gains, 68% net realized long-term gains. Performance: 5-year average annual return 8.27%; annualized current distribution rate 6.13% as of 2/28/2026.

Positive

• Declared distribution of $0.30 per share payable March 30, 2026
• Optional reinvestment or cash election available to shareholders
• Annualized distribution rate of 6.13% as of 2/28/2026
• 5-year average annual return of 8.27% through 2/28/2026

Negative

• 0% net investment income in the estimated distribution allocation
• Distribution funded by realized gains (32% short-term, 68% long-term), which may not indicate recurring cash income
• Distribution policy subject to Board discretion, including rate changes

Key Figures

Quarterly distribution: $0.30 per share Short-term gains portion: $0.0953 per share (32%) Long-term gains portion: $0.2047 per share (68%) +5 more

8 metrics

Quarterly distribution $0.30 per share First quarter common stock distribution payable March 30, 2026

Short-term gains portion $0.0953 per share (32%) Estimated allocation of March 30, 2026 distribution

Long-term gains portion $0.2047 per share (68%) Estimated allocation of March 30, 2026 distribution

Distribution policy rate 7% of NAV Annual rate on rolling average of prior four quarter-end NAVs

Q4 minimum payout 1.75% of NAV Minimum fourth quarter distribution of rolling average NAV

5-year avg total return 8.27% Average annual total return in relation to NAV for 5 years to 2/28/2026

Annualized distribution rate 6.13% Annualized current distribution rate vs NAV as of 2/28/2026

Cumulative NAV total return 10.63% Fiscal year cumulative total return to 2/28/2026

Market Reality Check

Price: $18.36 Vol: Volume 241,132 is below 2...

normal vol

$18.36 Last Close

Volume Volume 241,132 is below 20-day average of 334,990 ahead of the distribution announcement. normal

Technical Shares trade above the 200-day MA, with price 18.36 vs 200-day MA at 16.04, and sit just below the 52-week high of 18.73.

Peers on Argus

RVT fell 1.55% while peers were mixed: USA +0.67%, RQI +0.76%, STEW +0.22%, GAB ...

RVT fell 1.55% while peers were mixed: USA +0.67%, RQI +0.76%, STEW +0.22%, GAB -0.32%, BSTZ -0.70%, suggesting a stock-specific reaction to the distribution news.

Historical Context

5 past events · Latest: Jan 26 (Neutral)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Jan 26	Performance snapshot	Neutral	-0.5%	Released Dec 31, 2025 NAV, market price, returns, and portfolio diagnostics.
Jan 15	Earnings date notice	Neutral	+0.5%	Synaptics scheduled its fiscal 2026 Q2 earnings release and conference call.
Dec 23	Performance snapshot	Neutral	-0.9%	Reported Nov 30, 2025 NAV, market price, performance, and sector weights.
Dec 01	Distribution declaration	Positive	-1.1%	Declared Q4 common stock distribution of <b>$0.54</b> per share under 7% policy.
Nov 24	Performance snapshot	Neutral	+1.8%	Outlined Oct 31, 2025 NAV, returns, valuation metrics, and trading volume.

Pattern Detected

Recent RVT news, including prior distribution and portfolio updates, often saw modest price moves, with the last distribution declaration followed by a negative reaction.

Recent Company History

Over the past few months, RVT has regularly reported portfolio diagnostics and performance updates, with NAVs in the high teens and net assets above $2.15B. A prior fourth quarter distribution of $0.54 per share on Dec 24, 2025 came alongside a managed 7% rolling NAV distribution policy and showed no return of capital. Market reactions to these updates were generally mild, sometimes negative even on constructive news. Today’s $0.30 first quarter distribution continues that managed payout framework.

Market Pulse Summary

This announcement details a first quarter common stock distribution of $0.30 per share under RVT’s m...

Analysis

This announcement details a first quarter common stock distribution of $0.30 per share under RVT’s managed policy targeting 7% of the rolling four-quarter average NAV, funded entirely from realized gains with no estimated return of capital. Performance data show a 5-year average annual NAV total return of 8.27% and a current annualized distribution rate of 6.13%. Investors may watch future allocation breakdowns, Board updates to the policy, and NAV performance to assess distribution sustainability.

Key Terms

net asset values (navs), net investment income, net realized short-term gains, net realized long-term gains, +4 more

8 terms

net asset values (navs) financial

"7% of the rolling average of the prior four calendar quarter-end net asset values (NAVs)"

Net asset value (NAV) is the per-share value of a fund or investment vehicle, calculated by adding up the market value of its assets, subtracting any liabilities, and dividing by the number of shares outstanding. It acts like a price tag for a basket of holdings, helping investors tell the underlying worth of each share, compare the market price to that intrinsic value, and track how the fund’s assets are performing over time.

net investment income financial

"Net Investment Income | Net Realized Short-Term Gains | Net Realized Long-Term Gains"

Net investment income is the money an investor or fund actually keeps from its investments after subtracting the costs of running those investments (like management fees, interest, and losses). Think of it as your paycheck from owning assets: gross returns minus the bills needed to earn them. Investors watch it because it shows how profitable the investment activities are, influences dividend payouts and cash available for growth, and helps compare true performance across funds or companies.

net realized short-term gains financial

"Net Realized Short-Term Gains | Net Realized Long-Term Gains | Return of Capital"

Net realized short-term gains are the profits left after subtracting short-term losses from the sale of assets held for a year or less. Think of it like flipping garage-sale items: the money you actually pocket after accounting for any quick losses. Investors care because these gains affect reported income, can push taxes higher (short-term gains are usually taxed at ordinary rates), and change a fund’s or portfolio’s after-tax performance and volatility.

net realized long-term gains financial

"Net Realized Short-Term Gains | Net Realized Long-Term Gains | Return of Capital"

Profit from selling investments or assets that were held for more than one year, after subtracting any related losses and adjustments. It matters to investors because these long-term gains are typically taxed at different rates than short-term gains and signal how much return a sale generated over a longer holding period — similar to the net profit you’d report after selling a secondhand car and paying for repairs and fees.

return of capital financial

"Net Realized Long-Term Gains | Return of Capital"

Return of capital is when an investor receives money from their investment that is not considered profit or earnings but rather a portion of the original amount they invested. It’s similar to getting back part of your initial savings rather than gains from it. This matters because it can affect how much money an investor still has in the investment and may have tax implications.

distribution policy financial

"The Fund has adopted a Distribution Policy of paying quarterly distributions"

A distribution policy is a company’s formal approach to returning cash or other value to shareholders—typically through dividends, share buybacks, or occasional special payments. Like a household deciding how much of its income to save versus spend, this policy tells investors how much income to expect, how predictable those payments are, and how the company balances rewarding owners with keeping money for growth, which affects yield, share price stability, and investor confidence.

net asset value (nav) financial

"Average Annual Total Return (in relation to NAV for the 5-year period"

Net asset value (NAV) is the per-share value of an investment fund calculated by totaling the fund’s assets, subtracting its liabilities, and dividing the remainder by the number of outstanding shares. Think of it like a price tag on each share of a collective piggy bank: investors use NAV to see what each share is worth, to compare funds, and, for many funds, it’s the price at which shares are bought or redeemed.

form 1099-div regulatory

"The Fund will send you a Form 1099-DIV for the calendar year"

Form 1099-DIV is a U.S. tax document brokers, mutual funds and other financial institutions send to investors showing dividends and other distributions paid during the year. Investors use it like an annual receipt to report taxable income — including regular dividends, dividends that may qualify for lower tax rates, and capital gains distributions — so it directly affects tax liability and helps reconcile brokerage records with a tax return.

AI-generated analysis. Not financial advice.

NEW YORK, March 2, 2026 /PRNewswire/ -- Royce Small-Cap Trust, Inc. (NYSE-RVT) has declared a quarterly distribution of $0.30 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 March 30, 2026, to stockholders of record at the close of business on March 12, 2026 (ex-dividend on March 12, 2026). The price of shares issued for reinvestment will be determined on March 20, 2026.

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 March 30, 2026 and for 2026 year-to-date are as follows

Estimated Allocations as of February 28, 2026

Fund	Distribution Per Share	Net Investment Income	Net Realized Short-Term Gains	Net Realized Long-Term Gains	Return of Capital
RVT	$0.30	$0.00 (0 %)	$0.0953 (32 %)	$0.2047 (68 %)	$0.00 (0 %)

Estimated Allocations for 2026 through February 28, 2026

Fund	Distribution Per Share	Net Investment Income	Net Realized Short-Term Gains	Net Realized Long-Term Gains	Return of Capital
RVT	$0.30	$0.00 (0 %)	$0.0953 (32 %)	$0.2047 (68 %)	$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 2/28/2026)1	Annualized Current Distribution Rate (expressed as a percentage of NAV as of 2/28/2026)2	Cumulative Total Return (in relation to NAV for the fiscal year through 2/28/2026)3	Cumulative Fiscal Year Distribution Rate (as a percentage of NAV as of 2/28/2026)4
RVT	8.27 %	6.13 %	10.63 %	1.53 %

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 February 28, 2026. 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 February 28, 2026.

3 Cumulative Total Return is the percentage change in the Fund's NAV from December 31, 2025 to February 28, 2026, 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, 2026 to February 28, 2026), as a percentage of the Fund's NAV as of February 28, 2026.

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. 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-nyse-rvt-declares-first-quarter-common-stock-distribution-of-0-30-per-share-302701394.html

SOURCE Royce Small Cap Trust

FAQ

What distribution did Royce Small-Cap Trust (RVT) declare for March 2026?

The fund declared a $0.30 per share common stock distribution for payment on March 30, 2026. According to the company, record and ex-dividend dates are March 12, 2026, and reinvestment pricing will be set March 20, 2026.

How is the RVT March 2026 distribution funded and allocated?

The distribution is estimated to be funded 0% from net investment income, 32% from net realized short-term gains, and 68% from net realized long-term gains. According to the company, these are estimates and not tax reporting figures.

What are the important dates for RVT shareholders for the March 2026 distribution?

Key dates: record/ex-dividend date March 12, 2026, and payment date March 30, 2026. According to the company, reinvestment share price will be determined on March 20, 2026 for elective reinvestments.

What is Royce Small-Cap Trust's distribution policy and current rate (RVT)?

The fund targets quarterly distributions at an annual rate of 7% of the rolling four-quarter average NAV, subject to Board changes. According to the company, the annualized current distribution rate was 6.13% as of 2/28/2026.

How did RVT perform recently in relation to NAV through February 28, 2026?

RVT reported a 5-year average annual return of 8.27% and a cumulative total return of 10.63% for the fiscal year through 2/28/2026. According to the company, these returns are measured in relation to NAV with reinvested distributions.