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

News Market Reaction

-1.05%

1 alert

-1.05% News Effect

On the day this news was published, RVT declined 1.05%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

Q4 distribution: $0.54 per share Q4 distribution mix: $0.0289 NII, $0.1267 ST gains, $0.3844 LT gains 2025 YTD distributions: $1.42 per share +5 more

8 metrics

Q4 distribution $0.54 per share Payable December 24, 2025 on common stock

Q4 distribution mix $0.0289 NII, $0.1267 ST gains, $0.3844 LT gains Per-share components of $0.54; 5%/24%/71% allocation

2025 YTD distributions $1.42 per share Through November 30, 2025; 5% NII, 24% ST, 71% LT gains

Distribution policy rate 7% of rolling 4-quarter NAV Target annual rate on common stock distributions

5-year avg annual return 9.66% Average annual total return in relation to NAV to 11/30/2025

Current distribution rate 11.85% Annualized current distribution rate vs NAV as of 11/30/2025

Cumulative NAV return FY 13.69% Cumulative total return in relation to NAV FY through 11/30/2025

Cumulative FY distribution rate 7.79% Fiscal-year distributions as % of NAV as of 11/30/2025

Market Reality Check

Price: $17.46 Vol: Volume 627,520 vs 20-day ...

high vol

$17.46 Last Close

Volume Volume 627,520 vs 20-day average 291,312 indicates elevated trading activity ahead of the distribution. high

Technical Price $16.39 is trading above the 200-day MA $15.22, reflecting a pre-existing upward trend.

Peers on Argus

RVT gained 2.43%, while peers showed mixed moves: USA +1.47%, STEW +1.00%, BSTZ ...

RVT gained 2.43%, while peers showed mixed moves: USA +1.47%, STEW +1.00%, BSTZ -0.35%, GAB -0.96%, RQI flat. This points to a stock-specific reaction around the distribution news rather than a broad sector move.

Historical Context

5 past events · Latest: Dec 01 (Neutral)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Dec 01	Q4 distribution	Neutral	-1.1%	Announced $0.54 Q4 distribution and detailed its estimated tax character.
Nov 24	Portfolio update	Neutral	+1.8%	Reported Oct 31, 2025 NAV, market price, net assets, and return metrics.
Oct 27	Performance update	Neutral	+0.1%	Provided Sep 30, 2025 NAV, market price, multi-period NAV returns, and valuation stats.
Sep 25	Performance update	Neutral	-1.4%	Released Aug 31, 2025 NAV, market price, YTD and one-year returns, and sector weights.
Sep 03	Q3 distribution	Neutral	+0.0%	Declared $0.29 Q3 distribution under 7% rolling NAV policy with source breakdown.

Pattern Detected

Recent RVT news has focused on routine portfolio updates and quarterly distributions, with generally modest single-day price reactions following announcements.

Recent Company History

This announcement continues a pattern of regular disclosures by Royce Small-Cap Trust. Recent updates included detailed portfolio and performance snapshots as of Aug 31, Sep 30, and Oct 31, 2025, highlighting NAVs around $17.8–$18.0, net assets near $2.15B, and solid one- and five-year NAV total returns. The third-quarter distribution of $0.29 per share followed the same 7% rolling NAV policy. Today’s larger fourth-quarter distribution of $0.54 per share and the reported 9.66% five-year average annual NAV return fit within this established distribution and performance framework.

Market Pulse Summary

This announcement detailed a Q4 distribution of $0.54 per share, payable in cash or stock, under a p...

Analysis

This announcement detailed a Q4 distribution of $0.54 per share, payable in cash or stock, under a policy targeting 7% of the rolling four-quarter average NAV. The 2025 year-to-date distributions total $1.42 per share, sourced entirely from income and realized gains with 0% return of capital, alongside a five-year average annual NAV return of 9.66%. Investors may monitor future distribution notices, realized gains, and NAV performance to assess ongoing payout sustainability.

Key Terms

net asset value (NAV), return of capital, net investment income, Form 1099-DIV

4 terms

net asset value (NAV) financial

"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)"

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.

return of capital financial

"RETURN OF CAPITAL ... RVT | $0.54 | $0.0289 (5 %) ... | $0.00 (0 %)"

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.

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.

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, 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.

View original content:https://www.prnewswire.com/news-releases/royce-small-cap-trust-inc-nyse-rvt-declares-fourth-quarter-common-stock-distribution-of-0-54-per-share-302629424.html

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.