Rand Capital Corporation (RAND) reports earnings

The report was filed on March 10, 2025

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Rand Capital Corporation (RAND+0.81%) has submitted its 10-K filing for the fiscal year ended December 31, 2024.

The filing details Rand's financial performance, highlighting a net increase in net assets from operations of $8,827,612 for the year. This increase was driven by net investment income of $3,425,077 and net realized gains on investments of $11,124,864.

Rand's total investment income for the year was $8,559,285, a 16.6% increase from the previous year. This growth was mainly due to higher interest income from portfolio companies.

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Total expenses for the year were $4,837,282, which included base management fees, incentive fees, and interest expenses. The increase in expenses was attributed to higher management fees and incentive fees.

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Rand's investment portfolio at fair value was $70,818,041 as of December 31, 2024, down from $77,125,712 the previous year. The portfolio consists primarily of interest-yielding debt instruments.

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The company declared dividends totaling $12,982,536 during the year, including a $4.20 per share dividend declared in December 2024, paid in a combination of cash and stock.

Rand's net asset value per share increased to $25.31 as of December 31, 2024, compared to $23.56 at the end of 2023.

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Rand's liquidity position includes approximately $835,000 in cash and $24.4 million in available capacity under its credit facility, which supports future investment activities.

The filing also notes Rand's continued compliance with the requirements to maintain its status as a regulated investment company (RIC) under the Internal Revenue Code.

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Rand's portfolio is concentrated in the professional and business services, consumer products, and manufacturing industries, with the top five portfolio companies representing 50% of total assets.

This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Rand Capital Corporation annual 10-K report dated March 10, 2025. To report an error, please email earnings@qz.com.