Rand Capital Corp. (RAND) — BDC Investor Profile:

Rand Capital Corporation (NASDAQ: RAND) is a business development company (BDC) with a distinctive strategy, differentiated by its focus on providing both venture capital and debt investments to small and mid-sized companies primarily in the Northeastern and Mid-Atlantic U.S. regions. What sets RAND apart is its long-standing history, dating back to 1969, which gives it deep experience in managing investments across several economic cycles.

Quick links: Articles & Press Releases | NAV & Dividend | Management Structure

Rand Capital Corp. (RAND) — Key Stats & Information:

For many BDC investors, the most important things to watch are current dividend yield, price relative to NAV, recent NAV stability, management structure, and whether earnings are covering the dividend. The snapshot sections below make those comparisons easier.

Current Stock Price: (Data delayed 20 minutes)	$11.055
Most Recent NAV/Share: (As of 12/31/2025)	$17.57
Current Price/NAV:	.63x
Annualized Regular Dividend:	$1.16
Annualized Current Yield:	10.49%

TTM = Trailing Twelve Months

	3/31/2025	6/30/2025	9/30/2025	12/31/2025
NAV/Share:	$21.99	$19.10	$18.06	$17.57
Debt/Equity:	0.0	0.0	0.0	0.0
NOI/Share:	$0.42	$0.83	$0.33	$0.20
EPS/Share:	$0.29	$-2.60	$-0.75	$0.37

Sum of TTM NOI/Share
(Or NII/share where applicable)

$1.78

TTM NOI Yield:
(As percentage of current $11.055 price)

16.10%

Sum of TTM EPS/Share

$-2.69

TTM EPS Yield:
(As percentage of current $11.055 price)

-24.33%

Sum of TTM Regular Dividends

$1.16

TTM Dividend Yield:
(As percentage of current $11.055 price)

10.49%

Stock Price @ Quarter End: (Closest close to 12/31/2025)	$11.36
NAV/Share:	$17.57
Price/NAV:	.65x
Shares Outstanding:	2.97M
Market Cap:	33.74M
Investments at Cost:	57.06M
Investments at Fair Value:	48.48M
Difference:	-8.58M
Net Asset Value:	52.18M
Leverage	-3.70M
Debt:Equity Ratio	0.0:1
Originations: (During quarter)	3.25M
Repayments: (During quarter)	-9.52M
Difference:	-6.27M
Realized Gains/Losses: (During quarter)	0.68M
Unrealized Gains/Losses: (During quarter)	0.49M
Non-Accruals at Cost:	28.6%
Non-Accruals at Fair Value:	13.7%
Net Operating Income / Share (Or Net Investment Income where applicable)	$0.20
EPS/Share	$0.37
Regular Dividends/Share	$0.29
Regular Dividend Yield (Annualized) (Against quarter-end $11.36 stock price)	10.21%

Although best efforts are made to minimize errors, there is no guarantee this data is free of error and therefore it should not be relied upon for investment decisions. See full disclaimer.

For more information see RAND SEC filings.
Base Management Fee:	1.75%
Fees Paid on Cash?:	No
NOI Incentive Fee:	20%
Annual Hurdle Rate:	7%
Capital Gains Fee:	20%
Incentive Catch-Up Provision:	Yes
Total Return Hurdle:	Yes
Fees on Non-Cash Income:	Yes

Rank	BDC	Price/NAV
• • •
#32	GECC	0.68x
#33	MRCC	0.66x
#34	PNNT	0.66x
#35	WHF	0.64x
#36	RAND	0.63x
#37	TPVG	0.62x
#38	TCPC	0.60x
#39	HRZN	0.59x
#40	CION	0.55x
• • •

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3/31
2005

...

12/31
2025

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3/31
2005

...

12/31
2025

Avg: .80x

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3/31
2005

...

12/31
2025

(regular quarterly amount annualized)

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3/31
2005

...

12/31
2025

Avg: 1.34%

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3/31
2005

...

12/31
2025

Avg: .02:1

(or NII/share when applicable)

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3/31
2005

...

12/31
2025

Rank	BDC	1Yr NAV/Sh Change
• • •
#41	ICMB	-21.15%
#42	TCPC	-23.40%
#43	OXSQ	-26.52%
#44	OFS	-28.48%
#45	RAND	-30.58%
#46	GECC	-31.55%
• • •

Quotes delayed 20 minutes

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Rank	BDC	Yield
• • •
#26	MSDL	11.83%
#27	BBDC	11.70%
#28	MSIF	10.98%
#29	MFIC	10.77%
#30	RAND	10.50%
#31	SLRC	10.37%
#32	PNNT	10.34%
#33	HTGC	10.12%
#34	NCDL	10.09%
• • •

Rand Capital Corp. (RAND) — Recent Articles & Press Releases:

Mon, Mar 9, 10:10 AM:

Ex-Div Reminder for Rand Capital (RAND)

Wed, Feb 25, 4:15 PM:

Rand Capital Announces $0.29 per Share Cash Dividend for First Quarter 2026

Thu, Feb 19, 8:30 AM:

Rand Capital Announces Fourth Quarter and Full Year 2025 Financial Results Conference Call and Webcast

Fri, Dec 12, 10:42 AM:

Reminder - Rand Capital Goes Ex-Dividend Soon

Wed, Dec 3, 4:15 PM:

Rand Capital Declares Total Fourth Quarter Cash Dividend of $0.85 per Share for Fourth Quarter 2025

Fri, Nov 7, 8:30 AM:

Rand Capital Reports Third Quarter 2025 Results

Thu, Oct 23, 4:15 PM:

Rand Capital Announces Third Quarter 2025 Financial Results Conference Call and Webcast

Mon, Aug 4, 8:30 AM:

Rand Capital Reports Second Quarter 2025 Results

Mon, Jul 28, 4:15 PM:

Rand Capital Announces $0.29 per Share Cash Dividend for Third Quarter 2025

Mon, Jul 21, 8:30 AM:

Rand Capital Announces Second Quarter 2025 Financial Results Conference Call and Webcast

Mon, May 5, 8:30 AM:

Rand Capital Reports Increase in Net Investment Income for First Quarter 2025

Wed, Apr 30, 4:15 PM:

Rand Capital Announces $0.29 per Share Cash Dividend for Second Quarter 2025

Tue, Apr 22, 4:15 PM:

Rand Capital Announces First Quarter 2025 Financial Results Conference Call and Webcast

Mon, Mar 10, 8:30 AM:

Rand Capital Reports Strong 2024 Results with 17% Investment Income Growth, Increased Dividends, and ...

Mon, Mar 3, 4:15 PM:

Rand Capital Announces $0.29 per Share Cash Dividend for First Quarter 2025

Mon, Feb 24, 4:15 PM:

Rand Capital Announces Fourth Quarter and Full Year 2024 Financial Results Conference Call and Webcast

Mon, Jan 13, 4:15 PM:

Rand Capital Corporation Announces Shareholder Election Results for Fourth Quarter 2024 Stock and Cash ...

Thu, Dec 5, 4:15 PM:

Rand Capital Corporation Declares $4.20 per Share Stock and Cash Dividend for Fourth Quarter 2024

Wed, Nov 6, 8:30 AM:

Rand Capital Reports 27% Increase in Total Investment Income for Third Quarter 2024, Supported by Strategic ...

Wed, Oct 23, 4:15 PM:

Rand Capital Announces Third Quarter 2024 Financial Results Conference Call and Webcast

Wed, Aug 28, 4:15 PM:

Rand Capital Receives $13.1 Million from Sale of SciAps, Inc.

Tue, Aug 6, 6:55 AM:

Rand Capital Reports 18% Increase in Total Investment Income for Second Quarter 2024

Wed, Jul 31, 4:15 PM:

Rand Capital Announces $0.29 per Share Cash Dividend for Third Quarter 2024

Thu, Jul 25, 4:15 PM:

Rand Capital Announces Second Quarter 2024 Financial Results Conference Call and Webcast

Wed, Jul 10, 5:47 PM:

Rand Capital Announces Portfolio Company SciAps, Inc. to be Acquired by Spectris plc

Mon, May 13, 8:00 AM:

Rand Capital Reports 12% Increase in Total Investment Income for First Quarter 2024

Wed, May 8, 4:15 PM:

Rand Capital Increases Regular Quarterly Cash Dividend 16% to $0.29 per Share for Second Quarter 2024

Mon, Apr 29, 4:15 PM:

Rand Capital Announces First Quarter 2024 Financial Results Conference Call and Webcast

Tue, Mar 5, 7:00 AM:

Rand Capital Reports 27% Increase in Total Investment Income for 2023

Tue, Feb 27, 8:30 AM:

Rand Capital Announces $0.25 per Share Cash Dividend for First Quarter 2024

Tue, Feb 20, 4:15 PM:

Rand Capital Announces Fourth Quarter and Full Year 2023 Financial Results Conference Call and Webcast

Mon, Jan 29, 4:15 PM:

Rand Capital's Board of Directors Approves Reduction of Asset Coverage Requirement

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