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Rand Capital Corporation (NASDAQ:RAND) ("Rand" or the "Company"), a business development company providing alternative financing for lower middle market companies, announced today that its Board of Directors declared a quarterly cash dividend of $0.29 per share, which increased $0.04 per share, or 16%, from the dividend paid in the first quarter of 2024. The dividend will be distributed on or about June 14, 2024, to shareholders of record as of May 31, 2024. Rand has approximately 2.6 million shares outstanding.
"This increase in our dividend underscores the strength and stability of our business operations, as well as our confidence in the future prospects of the Company," commented Daniel P. Penberthy, President and CEO. "Looking ahead, we remain steadfast in our objective to further enhance shareholder value through continued dividend growth. Our strategy is centered on prudent and strategic investments, particularly in income-producing debt instruments. By focusing on these opportunities, we aim to generate consistent and reliable income streams, thereby supporting our ability to sustain and increase dividends over the long term."
Posted In: RAND
