---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-25-001955"
form_type: "8-K"
ticker: "RAND"
cik: "0000081955"
company_name: "RAND CAPITAL CORP"
filed_at: "2025-01-13T23:59:59+00:00"
generated_at: "2026-05-28T04:13:56.356169+00:00"
event_type: "dividend"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# Rand Capital reports Q4 dividend election: 98% chose cash, paid 20.4% cash due to cap

## Summary
- Dividend of $4.20/share (~$10.8M total) payable Jan 24, 2025.
- Cash limited to 20% (~$2.2M); remaining ~$8.7M paid in stock at $22.30 VWAP.
- 98% of shares elected cash; due to limit, each cash elector gets ~20.4% cash, 79.6% stock.
- Total shares to be distributed ~389k; post-distribution shares outstanding ~2.97M.

## SEC filing metadata
- accession: 0001493152-25-001955
- form_type: 8-K
- ticker: RAND
- cik: 0000081955
- company_name: RAND CAPITAL CORP
- filed_at: 2025-01-13T23:59:59+00:00
- event_type: dividend
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/81955/000149315225001955/0001493152-25-001955-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/81955/000149315225001955/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-25-001955
- JSON: https://secwatch.observer/filing/0001493152-25-001955.json
- Plain text: https://secwatch.observer/filing/0001493152-25-001955.txt

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