Rand Capital Corp (RAND) Reports Q2 EPS of $0.20

Rand Capital Corp (NASDAQ: RAND) reported Q2 EPS of $0.20, versus ($1.92) reported last year.

Allen F. (“Pete”) Grum, President and Chief Executive Officer of Rand, commented, “Our second quarter results demonstrate the effectiveness of our strategy to transform Rand. To accomplish this, we externalized our management, distributed a $23.7 million dividend and have redirected our investment priorities to yielding instruments. With $22 million of cash available to invest, of which the majority will be for lending to lower middle market companies, we believe we have the resources to continue to grow net investment income. Our objective is to elect regulated investment company tax status for 2020, which will require us to distribute 90% of our qualified net investment income in the form of a dividend. During the third quarter, we will evaluate the appropriate level of a dividend and the timing of a regular distribution to our shareholders.”

For earnings history and earnings-related data on Rand Capital Corp (RAND) click here.

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