Rand Capital Co. (NASDAQ:RAND) Raises Dividend to $0.29 Per Share

Rand Capital Co. (NASDAQ:RAND) declared a quarterly dividend on Wednesday, May 8th, Zacks reports. Investors 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 8.32%. The ex-dividend date of this dividend is Friday, May 31st. This is a positive change from Rand Capital’s previous quarterly dividend of $0.25.

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

Rand Capital Stock Performance

NASDAQ:RAND traded down $0.10 during mid-day trading on Friday, hitting $13.94. The company’s stock had a trading volume of 429 shares, compared to its average volume of 1,400. The business’s fifty day moving average is $13.93 and its two-hundred day moving average is $13.54. The stock has a market cap of $35.97 million, a price-to-earnings ratio of 5.59 and a beta of 0.49. The company has a debt-to-equity ratio of 0.27, a current ratio of 23.73 and a quick ratio of 23.73. Rand Capital has a 1 year low of $12.50 and a 1 year high of $14.55.

Rand Capital (NASDAQ:RAND) last released its quarterly earnings data on Tuesday, March 5th. The asset manager reported $0.40 EPS 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 Buying and Selling at Rand Capital

In other Rand Capital news, Director Benjamin E. Godley bought 1,965 shares of Rand Capital stock in a transaction dated Tuesday, March 12th. The stock was acquired at an average cost of $13.95 per share, with a total value of $27,411.75. Following the purchase, the director now directly owns 25,000 shares in the company, valued at approximately $348,750. The acquisition was disclosed in a filing with the SEC, which is available at this link. 68.20% of the stock is owned by corporate insiders.

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.