RAND News & Events

"Our first quarter results reflect a transition period for Rand as we continued to push for new investment origination," said Daniel P. Penberthy, President and Chief Executive Officer of Rand. "Our total investment income and net investment income were lower than the prior-year period, due to the impact of non-accruals and a smaller income-producing portfolio following 2025 repayments. At the same time, we generated meaningful realized gains on portfolio activity during the quarter and began deploying capital into new and existing investments, including AME Holdco and additional capital to select existing portfolio companies. We are hopeful that the work completed in 2025 has created a foundation for more active capital deployment in 2026, and we remain focused on rebuilding the portfolio thoughtfully, preserving credit quality and supporting consistent earnings and the regular dividend over time."

Reports Q4 cash was $835,000 at December 3 ... During the fourth quarter, Rand reduced its outstanding borrowings by $3.3M leaving a principal balance of $600,000 on its existing $25M senior secured revolving credit facility at December 31, 2024. The outstanding borrowings carried an interest rate of 8.0% at year-end. The Company did not repurchase any outstanding common stock during 2024. ..."Rand delivered another strong quarter, highlighted by an 11% increase in total investment income over last year's fourth quarter, which contributed to a 17% rise in full-year investment income to $8.6M . This growth was fueled by our strategic focus on expanding debt investments," commented Daniel P. Penberthy, President and Chief Executive Officer of Rand. "Throughout the year, we took proactive steps to strengthen our balance sheet and enhance liquidity, including monetizing select equity investments and exiting publicly traded securities. These actions enabled us to reduce nearly all outstanding borrowings while investing approximately $14M in income-generating investments, further positioning us for long-term success. "In 2024, we reinforced our commitment to delivering shareholder value with a total dividend of $5.03 per share, which included the fourth quarter stock and cash dividend that was enhanced by the successful sale of a portfolio company during the year. Our 16% increase in the regular quarterly cash dividend underscores our confidence in Rand's financial strength and earnings growth potential. With a strong balance sheet and ample liquidity, we are well-positioned to sustain our disciplined growth strategy and expand investment income through new investments. While we have seen overall strengthening in many portfolio companies, we remain mindful of the challenging economic and political environment, which has impacted certain portfolio business operations."