---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-23-007169"
form_type: "8-K"
ticker: "RAND"
cik: "0000081955"
company_name: "RAND CAPITAL CORP"
filed_at: "2023-03-10T23:59:59+00:00"
generated_at: "2026-06-18T06:05:39.712412+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Rand Capital Q4 total investment income up 40% to $1.7M; raises quarterly dividend 33%

## Summary
- Q4 net investment income per share $0.48 vs $0.12 prior year; adjusted $0.41 vs $0.16.
- Full year 2022 net investment income per share $1.72, reversing prior year loss of $1.01 per share.
- Debt portfolio now 56% of total portfolio (vs 46% in 2021); annualized weighted average yield on debt 12.6%.
- Paid total dividends of $0.83 per share in 2022, up ~90%; regular quarterly dividend raised 33% to $0.20.
- Net asset value per share $22.36 at year-end vs $23.54 a year ago; cash plus public equities available $7.8M.

## SEC filing metadata
- accession: 0001493152-23-007169
- form_type: 8-K
- ticker: RAND
- cik: 0000081955
- company_name: RAND CAPITAL CORP
- filed_at: 2023-03-10T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/81955/000149315223007169/0001493152-23-007169-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/81955/000149315223007169/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-23-007169
- JSON: https://secwatch.observer/filing/0001493152-23-007169.json
- Plain text: https://secwatch.observer/filing/0001493152-23-007169.txt

## Key facts
- Earnings Releases
  RAND CAPITAL CORP reported financial results for the fourth quarter and year ended December 31, 2022.
  - Period: the fourth quarter and year ended December 31, 2022
  - Result: reported results
  source text: On March 10, 2023, Rand Capital Corporation (the “Company”) issued a press release announcing its results for the fourth quarter and year ended December 31, 2022.
  evidence_url: https://www.sec.gov/Archives/edgar/data/81955/000149315223007169/0001493152-23-007169-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.