Rand Capital Q1 2024: total investment income +12% to $2.1M, dividend raised 16% to $0.29/share

RAND CAPITAL CORP

2024-Q1 EPS reported $0.54

Net investment income $840,000 ($0.33/share), up 17% YoY; NAV per share $23.85, up 1% from year-end 2023.
Debt investments now 70% of portfolio (vs 64% year-end 2023); annualized weighted avg yield on debt 13.7%.
Invested $10.8M in new/follow-on investments; sold remaining ACV Auctions stock for $3.5M realized gain.
Regular quarterly dividend increased 16% to $0.29/share, payable June 14, 2024 to holders of record May 31.
Board renewed share repurchase program authorizing up to $1.5M of common stock purchases through May 2025.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

RAND CAPITAL CORP reported the first quarter ended March 31, 2024 results: revenue $2.1 million, net income $840,000, or $0.33 per share, EPS $0.33 per share.

Period: the first quarter ended March 31, 2024
Revenue: $2.1 million
Net income: $840,000, or $0.33 per share
EPS: $0.33 per share
Result: reported results

Exact text from the filing

Total Investment Income for First Quarter 2024 ● Strategy focused on expanding portfolio composition with new debt investments drives total investment income growth of 12% to $2.1 million for the first quarter of 2024 ● Investment portfolio comprised of 70% interest yielding debt instruments at quarter-end compared with 64% at the end of 2023, improving

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Source: SEC EDGAR

accession 0001493152-24-018794

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