Rand Capital Q2 2024: Investment income up 18% to $2.1M; NAV rises 11% to $26.56

RAND CAPITAL CORP

2024-Q2 EPS reported $3.54

Total investment income $2.1M (+18% YoY); net investment loss of $0.20/share due to $1.2M capital gains incentive fee accrual.
Adjusted net investment income per share $0.44, up 16% from $0.38; adjusted expenses $1.0M vs $816k.
NAV $26.56 per share at June 30, 2024, up 11% from March 31 and 13% from year-end 2023.
Reduced debt by $2.0M during quarter, repaid additional $2.3M after quarter-end; portfolio SciAps pending acquisition in 2024.
Declared Q3 dividend of $0.29 per share, unchanged; sold BDC holdings for $3.3M proceeds with $1.3M realized gain.

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