---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-24-008773"
form_type: "8-K"
ticker: "RAND"
cik: "0000081955"
company_name: "RAND CAPITAL CORP"
filed_at: "2024-03-05T23:59:59+00:00"
generated_at: "2026-06-05T04:26:57.599724+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Rand Capital Reports 27% Total Investment Income Growth in 2023; Dividends Up 60% to $1.33/Share

## Summary
- Total investment income $7.3M in 2023 (+27% YoY); Q4 income $1.9M (+11%).
- Adjusted net investment income per share $1.46, up 11% from $1.31 in 2022.
- Portfolio fair value $77.1M (+25% YoY); debt yield 13.6% vs 12.6% year-end 2022.
- Dividends paid $1.33 per share in 2023, up 60%; regular Q1 2024 dividend of $0.25 declared.
- NAV per share $23.56, up 5% from year-end 2022; total net assets $60.8M.

## SEC filing metadata
- accession: 0001493152-24-008773
- form_type: 8-K
- ticker: RAND
- cik: 0000081955
- company_name: RAND CAPITAL CORP
- filed_at: 2024-03-05T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/81955/000149315224008773/0001493152-24-008773-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/81955/000149315224008773/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-24-008773
- JSON: https://secwatch.observer/filing/0001493152-24-008773.json
- Plain text: https://secwatch.observer/filing/0001493152-24-008773.txt

## Key facts
- Earnings Releases
  RAND CAPITAL CORP reported the fourth quarter and fiscal year ended December 31, 2023 results: revenue Total investment income of $7.3 million increased $1.6 million, or 27%, from the prior year, net income Net investment income per share was $1.15 for 2023 compared with $1.72 per share in the prior year, EPS $0.37 per share.
  - Period: the fourth quarter and fiscal year ended December 31, 2023
  - Revenue: Total investment income of $7.3 million increased $1.6 million, or 27%, from the prior year
  - Net income: Net investment income per share was $1.15 for 2023 compared with $1.72 per share in the prior year
  - EPS: $0.37 per share
  - Result: reported results
  source text: filing. --- EX-99.1 () --- EX-99.1 2 ex99-1.htm Exhibit 99.1 NEWS RELEASE 14 Lafayette Square, Suite 1405 ● Buffalo, New York 14203 FOR IMMEDIATE RELEASE Rand Capital Reports 27% Increase in Total Investment Income for 2023 ● Portfolio expansion centered on debt investments drives total investment income growth of 11% to $1.9 million for the fourth
  evidence_url: https://www.sec.gov/Archives/edgar/data/81955/000149315224008773/0001493152-24-008773-index.htm

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