#United States #New York #quarterly distribution #NYSE-RVT #Royce Small-Cap

Royce Small-Cap Trust Announces Fourth Quarter Distribution

Royce Small-Cap Trust, Inc. (ticker: NYSE-RVT) has made an important announcement regarding its fourth quarter distribution, declaring a payment of $0.54 per share on its common stock. This distribution is particularly noteworthy for investors as it reflects the Fund’s ongoing commitment to providing returns through regular dividend payments.

Distribution Details

The distribution is scheduled to be disbursed on December 24, 2025. Stockholders of record, who will be counted as of the close of business on December 11, 2025, will benefit from this distribution. Those looking for reinvestment options will have the choice of either receiving additional shares of common stock or cash, based on their individual preferences. After the predefined date of December 18, 2025, the price of the shares will be determined, allowing for the issuance of shares under reinvestment plans.

Distribution Policy and Impact

Royce Small-Cap Trust operates under a structured Distribution Policy that includes quarterly disbursements. The annual distribution rate is set at 7% based on the rolling averages of the net asset values (NAVs) over the previous four calendar quarters. Specifically, the current fourth quarter distribution is determined to be the greater of 1.75% of the rolling average or the minimum amount defined by IRS regulations. This approach embodies the Trust's strategic commitment to ensuring a steady income stream for its investors. Notably, the policy is subject to changes at the discretion of the Fund's Board of Directors, allowing flexibility as market conditions fluctuate.

Breakdown of Distribution Sources

As of November 30, 2025, here is how the distribution allocation stands:

• - Net Investment Income: 5% or $0.0289 per share
• - Net Realized Short-Term Gains: 24% or $0.1267
• - Net Realized Long-Term Gains: 71% or $0.3844
• - Return of Capital: 0%

These allocations provide a clear perspective on the sources of income that underpin the distribution, signifying solid returns primarily emanating from long-term gains.

Additionally, the estimated allocations throughout 2025 showcase a cumulative distribution per share totaling $1.42, maintaining the same proportional breakdown among net investment income, short-term and long-term gains.

Evaluating Fund Performance

Investors often seek the historical performance of a Fund to gauge future prospects. The Royce Small-Cap Trust has reported an admirable average annual total return of 9.66% over the past five years, reflecting robustness given the volatility of market conditions.

• - Current Distribution Rate: 11.85% as of November 30, 2025.
• - Cumulative total return through November 30, 2025, stands at 13.69%.
• - Cumulative fiscal year distribution rate is noted at 7.79%.

These figures underscore the Fund's strategic focus on small-cap companies and its dedication to delivering satisfactory financial returns. Investors are reminded that the performance and distribution amounts are indicative of the Fund’s investment achievements but should be interpreted with caution. They should not be considered guarantees of future performance, especially as distributions could be influenced by various factors, including market conditions and tax regulations.

About Royce Small-Cap Trust

Royce Small-Cap Trust, Inc. is a closed-end diversified management investment company. It primarily focuses on long-term capital growth by investing at least 80% of its net assets in equity securities of small-cap companies, defined by their market capitalization relative to the Russell 2000® Index. The current climate for investing in smaller enterprises remains promising, and the Fund continues to maintain a strategy that aims at maximizing investors' returns over the long haul.

For more information on Royce Small-Cap Trust and additional insights on investment opportunities, potential investors can visit their dedicated website at www.royceinvest.com.