Rand Capital(US:RAND)2020-05-12 03:16Financial Performance - The company distributed a special dividend of $23.7 million, or $1.62 per share, on May 11, 2020[8] - Net asset value at March 31, 2020 increased $0.03 per share to $3.69 per share[17] - Net investment gain was $538,000 due to a $419,000 tax benefit[48, 50] - The company had $29.1 million in consolidated cash as of March 31, 2020[51] - The board approved a new share buyback authorization to repurchase up to $1.5 million in outstanding shares[8] Portfolio Activity - The company realized a $2.3 million gain from Outmatch Holdings, LLC[17] - The company invested $1.7 million in public equity of business development companies[17] - The company's top 5 portfolio investments represent 54% of the total portfolio[35] Share Structure - A 1:9 reverse stock split was announced to begin trading reversed on May 22, 2020[8] - Shares outstanding after the 1:9 reverse split are expected to be 2,589,380[15] - 8,649,103 shares were issued for the special dividend[14] Portfolio Composition - The company's portfolio investments totaled $36.0 million as of March 31, 2020[30, 39] - Equity & Membership Interests comprise 59% and Debt 41% of the portfolio asset mix[38, 39]