Rand Capital Co. (NASDAQ:RAND) Declares Dividend Increase – $0.29 Per Share

Rand Capital Co. (NASDAQ:RAND) declared a quarterly dividend on Wednesday, May 8th, Zacks reports. Stockholders of record on Friday, May 31st will be paid a dividend of 0.29 per share by the asset manager on Friday, June 14th. This represents a $1.16 annualized dividend and a dividend yield of 8.20%. The ex-dividend date of this dividend is Friday, May 31st. This is an increase from Rand Capital’s previous quarterly dividend of $0.25.

Rand Capital has decreased its dividend payment by an average of 10.6% per year over the last three years and has increased its dividend annually for the last 2 consecutive years.

Rand Capital Price Performance

Shares of Rand Capital stock traded up $0.11 on Friday, reaching $14.15. The stock had a trading volume of 107 shares, compared to its average volume of 1,396. The business’s 50 day moving average is $13.93 and its two-hundred day moving average is $13.54. The company has a market cap of $36.51 million, a P/E ratio of 5.55 and a beta of 0.49. Rand Capital has a 1 year low of $12.50 and a 1 year high of $14.55. The company has a current ratio of 23.73, a quick ratio of 23.73 and a debt-to-equity ratio of 0.27.

Rand Capital (NASDAQ:RAND) last announced its earnings results on Tuesday, March 5th. The asset manager reported $0.40 earnings per share for the quarter. Rand Capital had a return on equity of 5.39% and a net margin of 88.95%. The business had revenue of $1.93 million for the quarter.

Insider Activity

In other news, Director Benjamin E. Godley bought 1,965 shares of the firm’s stock in a transaction dated Tuesday, March 12th. The stock was purchased at an average price of $13.95 per share, with a total value of $27,411.75. Following the transaction, the director now owns 25,000 shares of the company’s stock, valued at $348,750. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 68.20% of the company’s stock.

Rand Capital Company Profile

Rand Capital Corporation is a business development company specializing in subordinated debt with warrants or preferred equity and venture capital investments. Within private equity, the firm specializing in capital growth and lower middle market investments. Within venture capital, it specializing in early to late-stage private businesses.