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BUFFALO, NY – Rand Capital Corporation (NASDAQ:RAND), a business development company with a market capitalization of $57.6 million and an attractive P/E ratio of 5.7, held its 2025 Annual Meeting of Shareholders on April 23, 2025. According to InvestingPro data, the company maintains a "GREAT" overall financial health score of 3.46. The company announced the re-election of its board of directors and the ratification of its independent registered public accounting firm. The meeting followed standard procedures without opposition to the company’s proxy solicitation.
The shareholders voted to re-elect all five director nominees. Benjamin E. Godley received 2,085,846 votes in favor, with 6,069 withheld and 351,499 broker non-votes. Adam S. Gusky was re-elected with 2,084,809 votes for, 7,106 withheld, and 351,499 non-votes. Cari L. Jaroslawsky garnered 2,084,829 affirmative votes, with 7,086 withheld and the same number of non-votes. Erland E. Kailbourne and Robert M. Zak also retained their positions on the board with similar vote counts and non-votes.
Furthermore, the shareholders ratified the appointment of Freed Maxick, P.C. as the independent registered public accounting firm for the fiscal year ending December 31, 2025. The accounting firm’s selection was approved with 2,428,455 votes for, 1,165 against, and 13,794 abstentions. This comes as the company has demonstrated strong financial performance, with revenue growth of 16.6% in the last twelve months and a robust dividend yield of 5.9%.
Rand Capital’s President and Chief Executive Officer, Daniel P. Penberthy, signed off on the SEC filing on April 24, 2025, confirming the results of the Annual Meeting. The company operates from its headquarters at 1405 Rand Building, Buffalo, NY, and focuses on providing capital and support to small to medium-sized businesses.
This news is based on a press release statement and reflects the formal proceedings and outcomes of Rand Capital Corporation’s Annual Meeting as reported to the Securities and Exchange Commission.
In other recent news, Rand Capital Corporation reported a significant increase in its financial performance for the fourth quarter of 2024. The company saw an 11% rise in total investment income, reaching $2.1 million, and a 15% increase in earnings per share compared to the previous year. Despite a decrease in total assets by 11%, Rand Capital managed to increase its net asset value per share by 7%. The company successfully exited its investment in SIAPS, generating $13.1 million, and shifted its portfolio to consist of 75% debt investments. Additionally, Rand Capital declared dividends totaling $4.3 million for the year. The company’s strategic focus on income-generating investments was emphasized by both CEO Dan Temberthy and CFO Margaret Brechtel, who expressed optimism about sustained higher dividend levels over time. Analysts and investors are keeping a close eye on Rand Capital’s continued strategic shifts and financial results as the company navigates broader market conditions.
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