Rand Capital(US:RAND)2020-08-07 18:25Financial Performance - Total investment income increased by 157% from $583 thousand in Q2 2019 to $675 thousand in Q2 2020[27] - Total expenses decreased by 42% from $824 thousand in Q2 2019 to $476 thousand in Q2 2020[27] - Net investment income per share was $008 in Q2 2020, up from a loss of $020 in Q2 2019[8] - Net assets decreased from $541 million at 3/31/2020 to $497 million at 6/30/2020[31] - NAV per share at 6/30/2020 was $1921, reflecting the impact of additional shares from the dividend distribution[34] Investment Strategy & Portfolio - Investment strategy shifted to generating current income, with debt investments increasing from 35% at 6/30/2019[11] - Interest income from portfolio companies increased by 81% to $571 thousand in Q2 2020 compared to Q2 2019[11] - The company purchased $750 thousand of Series F preferred stock of Tilson Technology, increasing dividend income[11] - The portfolio is increasingly diversified, with software representing 33% of investments at fair value of $386 million as of June 30, 2020[17,18] - Top five portfolio investments represent 56% of the total portfolio value of $386 million[22] Liquidity & Capital Activities - The company has excellent liquidity with $22 million in cash and cash equivalents at June 30, 2020[8] - A cash dividend and stock dividend of 960 thousand shares was paid on May 11, 2020[8]