Rand Capital Declares Total Q4 Cash Dividend; Dividend Consists Of Regular Quarterly Cash Dividend Of $0.25 Per Share And Special Cash Dividend Of $0.38 Per Share; Total 2023 Cash Dividend Distributions Of $1.33 Per Share Up 60% Over 2022
Portfolio Pulse from Benzinga Newsdesk
Rand Capital Corporation (NASDAQ:RAND) announced a total Q4 cash dividend of $0.63 per share, which includes a regular quarterly dividend of $0.25 and a special dividend of $0.38. The total cash dividend for 2023 is $1.33 per share, a 60% increase over 2022. The dividends will be paid on December 29, 2023, to shareholders of record as of December 18, 2023. The increase is attributed to strong earnings momentum and a net gain from the sale of an investment. Rand's President and CEO, Daniel P. Penberthy, expressed confidence in the company's strategy and its ability to support future dividends.
December 05, 2023 | 9:24 pm
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Rand Capital Corporation declared a Q4 total cash dividend of $0.63 per share and a total 2023 cash dividend of $1.33 per share, reflecting a 60% increase from 2022.
The announcement of a significant increase in dividends, including a special dividend, is typically viewed positively by investors and can lead to a short-term increase in stock price. The confidence in the company's strategy and the ability to support future dividends as stated by the CEO further strengthens the positive outlook.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100