Rand Capital Corporation announced that its Board of Directors declared a total quarterly cash dividend of $0.38 per share comprised of a $0.20 per share regular quarterly cash dividend, which was increased by $0.05 per share, and an $0.18 per share supplemental cash dividend. The dividend will be distributed on or about Friday, December 30, 2022, to shareholders of record as of Monday, December 19, 2022. At September 30, 2022, Rand had approximately 2.6 million shares outstanding.