Do the closed-end funds, Royce Value Trust (Market Symbol: RVT), Royce Micro-Cap Trust (RMT) and Royce Focus Trust (FUND) pay distributions?
All three funds pay distributions quarterly. Distributions for RVT and RMT are currently made at the annual rate of 9% of the rolling average of the prior four calendar quarter-end NAVs, with the fourth quarter distribution being the greater of 2.25% of the rolling average or the minimum distribution required by IRS regulations. Distributions for FUND are made at the annual rate of 5% of the rolling average of the prior four calendar quarter-end NAVs, with the fourth quarter being the greater of 1.25% of the rolling average or the minimum distribution by IRS regulations. All three funds have historically reported a portion of the distributions as long-term capital gains for tax purposes. Long-term capital gains will be allocated pro-rata to all distributions for the year. The final determination of the source of all distributions, including potentially a return of capital, will be made at the end of the year.
Related Questions
- Do the closed-end funds, Royce Value Trust (Market Symbol: RVT), Royce Micro-Cap Trust (RMT) and Royce Focus Trust (FUND) pay distributions?
- Are there transition provisions for companies or closed-end funds that are transferring to the NYSE from another market?
- Are closed-end funds considering other steps to redeem auction market preferred stock?
