Royce Small-Cap Trust, Inc. (NYSE-RVT) declares Fourth Quarter Common Stock Distribution of $0.54 Per Share

Rhea-AI Summary

Royce Small-Cap Trust (NYSE:RVT) declared a fourth quarter common stock distribution of $0.54 per share, payable on December 24, 2025 to holders of record at the close on December 11, 2025 (ex-dividend December 11, 2025).

The distribution is payable in cash or additional shares by election; reinvestment share price will be determined on December 18, 2025. The Fund follows a quarterly Distribution Policy targeting an annual rate of 7% of the rolling four-quarter average NAV, with the Q4 payment at least 1.75% of that rolling average or the IRS minimum.

Estimated allocation for the Q4 $0.54: 5% net investment income, 24% short-term gains, 71% long-term gains. Year-to-date through Nov. 30, 2025 distributions total $1.42 per share, with the same allocation percentages and 0% return of capital. As of 11/30/2025 the Fund shows a 5-year average annual NAV return 9.66% and an annualized current distribution rate 11.85% of NAV.

Positive

• Quarterly distribution of $0.54 per share payable Dec 24, 2025
• Year-to-date distributions total $1.42 per share through Nov 30, 2025
• Estimated 71% of the Q4 distribution from long-term gains

Negative

• Annualized current distribution rate of 11.85% of NAV (11/30/2025)
• Distribution policy and annual rate subject to change by the board

Insights

Portfolio Income Analyst

Quarterly distribution of $0.54 declared; largely funded by realized long‑term gains and payable Dec 24, 2025.

The Fund declared a common stock distribution of $0.54 per share payable Dec 24, 2025, with record/ex‑dividend activity on Dec 11, 2025. The distribution election allows cash or reinvestment; reinvestment share price will be set on Dec 18, 2025. The Fund reports the fourth quarter payout and 2025 year‑to‑date distributions are largely sourced from net realized long‑term gains (about 71% of the payment and 71% of year‑to‑date distributions), with net investment income contributing only about 5%.

The business mechanism is simple: distributions come from realized gains rather than operating income, so the payment reflects crystallized gains rather than recurring yield. This matters for income sustainability because distributions funded by realizations may not repeat at the same level absent continued asset sales. Key dependencies and risks include the Fund's future realization activity and any Board change to the Distribution Policy; the policy currently targets an annual rate of 7% of the rolling four‑quarter NAV average, but the Board may change it. Concrete items to watch over the next weeks include the Dec 11, 2025 record/ex‑dividend window, the reinvestment pricing on Dec 18, 2025, and year‑end tax source disclosures (Form 1099‑DIV) which will confirm final tax treatment and whether any return of capital occurred.

NEW YORK, Dec. 1, 2025 /PRNewswire/ -- Royce Small-Cap Trust, Inc. (NYSE-RVT) (the "Fund") has declared a fourth quarter distribution of $0.54 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 24, 2025 to stockholders of record at the close of business on December 11, 2025 (ex-dividend on December 11, 2025).  The price of shares issued for reinvestment will be determined on December 18, 2025. 

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 December 24, 2025 and for 2025 year-to-date are as follows:

Estimated Allocations as of November 30, 2025

FUND	DISTRIBUTION PER SHARE	NET INVESTMENT INCOME	NET REALIZED SHORT-TERM GAINS	NET REALIZED LONG-TERM GAINS	RETURN OF CAPITAL
RVT	$0.54	$0.0289 (5 %)	$0.1267 (24 %)	$0.3844 (71 %)	$0.00 (0 %)

Estimated Allocations for 2025 through November 30, 2025

FUND	DISTRIBUTION PER SHARE	NET INVESTMENT INCOME	NET REALIZED SHORT-TERM GAINS	NET REALIZED LONG-TERM GAINS	RETURN OF CAPITAL
RVT	$1.42	$0.0759 (5 %)	$0.3332 (24 %)	$1.0109 (71 %)	$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 11/30/2025)1	Annualized Current Distribution Rate (expressed as a percentage of NAV as of 11/30/2025)2	Cumulative total return (in relation to NAV for the fiscal year through 11/30/2025)3	Cumulative fiscal year Distribution Rate (as a percentage of NAV as of 11/30/2025)4
RVT	9.66 %	11.85 %	13.69 %	7.79 %

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, 2025. Annual NAV Total Return is the percentage change in the Fund's NAV over a year, assuming reinvestment of distributions paid.
2	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, 2025.
3	Cumulative Total Return is the percentage change in the Fund's NAV from December 31, 2024 to November 30, 2025, assuming reinvestment of distributions paid.
4	Cumulative Fiscal Year Distribution Rate is the dollar value of distributions for the fiscal year period (January 1, 2025 to November 30, 2025), as a percentage of the Fund's NAV as of November 30, 2025.

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.

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

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SOURCE Royce Small Cap Trust

FAQ

What is Royce Small-Cap Trust (RVT) declaring for the fourth quarter of 2025?

RVT declared a $0.54 per share common stock distribution payable on December 24, 2025.

Who is eligible to receive the RVT December 2025 distribution and when is the record date?

Holders of record at the close of business on December 11, 2025 are eligible; ex-dividend date is December 11, 2025.

Can RVT stockholders choose cash or stock for the December 2025 distribution?

Yes. Stockholders may elect to receive the distribution in cash or additional shares; reinvestment price set on December 18, 2025.

What are the estimated sources of RVT's $0.54 distribution for Q4 2025?

Estimated allocation: 5% net investment income, 24% net realized short-term gains, 71% net realized long-term gains, 0% return of capital.

What is RVT's year-to-date distribution and how does it compare to NAV as of 11/30/2025?

Year-to-date distributions equal $1.42 per share; the cumulative fiscal year distribution rate is 7.79% of NAV as of 11/30/2025.

What distribution policy does Royce Small-Cap Trust (RVT) follow?

The Fund targets quarterly distributions at an annual rate of 7% of the rolling four-quarter average NAV, with the Q4 payment at least 1.75% of the rolling average or the IRS minimum.