Royce Micro-Cap Trust, Inc. (NYSE-RMT) Announces Q3 Distribution
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Royce Micro-Cap Trust, Inc. (NYSE-RMT) Declares Q3 Distribution
Royce Micro-Cap Trust, Inc. (NYSE-RMT) has announced a quarterly distribution of $0.18 per share for its Common Stock. Shareholders have the option to receive this distribution in either cash or additional shares of Common Stock at their choice. The payment will be made to stockholders recorded on the designated date with the distribution payable soon thereafter.
Distribution Policy Overview
The Fund maintains a Distribution Policy that facilitates the payment of quarterly distributions based on a fixed annual rate. This rate is pegged at 7% calculated from the rolling average net asset values (NAVs) over the last four calendar quarters. However, for the fourth quarter, the distribution will either be 1.75% of the rolling average or the minimum amount required by IRS regulations, whichever is higher. The Board of Directors reserves the right to amend this policy as deemed necessary.
Understanding Return of Capital
Given the Fund's ongoing performance, it is important to understand that the distributions may include a return of capital. This means that a portion of the money invested may be returned to investors, which could lead to confusion with yield or income. It is essential for shareholders to recognize the difference and not make assumptions regarding the Fund's investment performance based solely on the distribution amount.
Distribution Source and Allocation
For the upcoming distribution, the estimated sources as of the end of the reporting period have been disclosed. This breakdown is crucial for shareholders as it provides insight into where the funds are coming from. Key allocations from the Fund include net investment income, net realized short-term gains, net realized long-term gains, and returns of capital.
Performance Metrics
The Fund's historical performance metrics are illustrative of its management success. As of recent evaluations, the average annual total return relative to net asset value (NAV) over five years has demonstrated resilience. The annualized current distribution rate aligns with shareholder expectations, and cumulative total returns reflect positively on the fiscal progress of the fund.
About Royce Micro-Cap Trust, Inc.
Royce Micro-Cap Trust, Inc. operates as a closed-end diversified management investment company, with its shares actively traded on the New York Stock Exchange. The primary goal of the Fund is to achieve long-term capital growth through strategic investments in equity securities of firms with market capitalizations of $750 million or less.
Frequently Asked Questions
What is the declared distribution amount for Q3 by Royce Micro-Cap Trust, Inc.?
The declared distribution amount for Q3 is $0.18 per share.
What is the distribution policy of Royce Micro-Cap Trust, Inc.?
The policy entails quarterly distributions at an annual rate of 7% based on prior net asset values, with certain conditions for the fourth-quarter distribution.
Can shareholders choose how they receive their distribution?
Yes, shareholders can elect to receive the distribution in cash or in additional shares of Common Stock.
What does 'return of capital' mean in the context of distributions?
A return of capital occurs when a portion of the original investment is returned to shareholders, which might affect the perceived yield or income.
What is the investment strategy of Royce Micro-Cap Trust, Inc.?
The Fund focuses on long-term capital growth by investing primarily in equity securities of micro-cap companies with market capitalizations of $750 million or less.
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