#United States #New York #Royce Small-Cap Trust #Stock Distribution #NYSE RVT

Royce Small-Cap Trust Announces Fourth Quarter Distribution

Royce Small-Cap Trust, Inc. (NYSE-RVT), a prominent closed-end diversified management investment firm, recently announced its quarterly distribution for the fourth quarter of 2024. The declared distribution stands at $0.44 per share on its Common Stock, set to be paid on December 23, 2024, to stockholders who are on record as of the close of business on December 12, 2024. For investors opting for reinvestment, shares will be issued at a price determined on December 19, 2024.

Distribution Policy Overview

The Trust has established a Distribution Policy that aims to provide quarterly distributions to its stakeholders based on a formula linked to its net asset values (NAVs) over time. Specifically, current distributions are made at an annual rate of 7% of the rolling average of the NAVs calculated at the end of the prior four calendar quarters. This policy ensures a minimum distribution that complies with IRS regulations.

For this particular quarter, the distribution of $0.44 reflects the greater of 1.75% of the rolling average NAV or the minimum distribution required by IRS rules. It is essential for shareholders to note that this policy is subject to change based on decisions made by the Fund's Board of Directors, thereby creating a dynamic investment scenario.

Possible Return of Capital

Investors should remain aware that some portion of this distribution may represent a return of capital. This happens when the Fund distributes more than its net investment income and net realized capital gains. A return of capital simply indicates that a portion of the original investment is being returned to shareholders, and it does not directly correlate to the Trust's performance.

Distribution Source Analysis

The Fund has provided an estimate indicating how it plans to allocate the upcoming distributions:

• - Net Investment Income: $0.0497 (11%)
• - Net Realized Short-Term Gains: $0.0400 (9%)
• - Net Realized Long-Term Gains: $0.3484 (79%)
• - Return of Capital: $0.0019 (1%)

Despite the forthcoming distribution, investors should not form any conclusions about the Fund's overall investment performance based solely on this figure. The listed amounts represent estimates that will be finalized later, dependent on the Fund’s investment success through the fiscal year.

Fund Performance Insight

To further illuminate the performance metrics, here’s a snapshot:

• - Five-Year Average Annual Total Return (NAV): 12.01%
• - Current Annualized Distribution Rate (as of November 30, 2024): 9.36%
• - Cumulative Total Return (NAV for fiscal year through November 30, 2024): 21.20%
• - Cumulative Fiscal Year Distribution Rate (as of November 30, 2024): 6.75%

This data indicates that while the Trust aims for growth, the distribution reflects a strategic balance focusing on investor returns while adhering to regulatory requirements.

About Royce Small-Cap Trust

Royce Small-Cap Trust, Inc. is designed to meet the unique needs of investors looking for long-term growth in primarily small-cap companies. Since its investment strategy aims to allocate at least 80% of its net assets in small-cap equities, it plays a vital role in diversifying portfolios with a specific focus on growth potential.

For more insights about the Royce Funds, visit royceinvest.com. Understanding the dynamics of distributions and how they relate to investment performance is crucial for shareholders whether considering reinvestment or not. As always with investments, thorough due diligence is advised.