Rand Capital issues shareholder notice for $4.20 dividend election; cash portion capped at 20% of $10.8M

RAND CAPITAL CORP

Dividend of $4.20 per share, aggregate ~$10.8M, payable Jan 24, 2025 to holders of record Dec 16, 2024.
Total cash component limited to 20% of aggregate dividend; excess cash elections pro-rated.
Stock price for conversion set at VWAP $22.30 (Dec 11-13), resulting in ~388,806 new shares.
Shareholders can elect cash or stock; election forms due Jan 7, 2025; silence defaults to cash election.

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