Business & Finance
Business and Finance
Business and Finance
Wed, December 17, 2008 Royce Micro-Cap Trust (NYSE: RMT) as of November 30, 2008
NEW YORK--([ BUSINESS WIRE ])--Royce Micro-Cap Trust, Inc. (NYSE:RMT):
Closing Prices – November 30, 2008 | |||
| NAV | $ | 6.46 | |
| MKT | $ | 5.33 | |
| Total Return Performance | ||||||
| Periods ended November 30, 2008 | NAV | MKT | ||||
| 1 Month* | -16.10 | % | -21.62 | % | ||
| Year to Date* | -47.65 | -51.24 | ||||
| One-Year | -46.89 | -51.50 | ||||
| Three-Year Average Annual | -13.54 | -20.87 | ||||
| Five-Year Average Annual | -3.40 | -6.98 | ||||
| 10-Year Average Annual | 5.71 | 4.96 | ||||
| *Not Annualized | ||||||
| Portfolio Diagnostics | |||
| Wtd Average Market Cap: |
| $275 million | |
| Wtd. Average P/E Ratio: |
| 10.0x* | |
| Wtd. Average P/B Ratio: |
| 0.9x | |
| Wtd. Average Portfolio Yield: | 1.6% | ||
| Net Assets Attributable to Common Stock: | $ | 166,914,970 | |
| Net Leverage: | 28% | ||
*Excludes 21% of portfolio holdings with zero or negative earnings as of 11/30/08.
Net leverage is the percentage, in excess of 100%, of the total value of equity type investments, divided by net assets applicable to common stock.
| Portfolio Composition | ||
| Top 10 Positions | % of Net Assets | |
| 1. Weyco Group | 1.8 | % |
| 2. Pegasystems | 1.3 | |
| 3. Seneca Foods Cl. B. | 1.3 | |
| 4. Aceto Corp. | 1.1 | |
| 5. Universal Truckload Svcs. | 1.1 | |
| 6. Tennant Co. | 1.0 | |
| 7. AAON Inc. | 0.9 | |
| 8. PASON Systems | 0.9 | |
| 9. Sapient Corp. | 0.9 | |
| 10. Fauquier Bancshares | 0.9 | |
| Top Five Industries | % of Net Assets | |
| 1. Technology | 24 | % |
| 2. Industrial Products | 22 | |
| 3. Industrial Services | 16 | |
| 4. Health | 13 | |
| 5. Financial Intermediaries | 13 | |
Recent Development
Royce Micro-Cap Trust, Inc. (NYSE-RMT) has declared a distribution of $0.26 per share on its Common Stock. The distribution, optionally payable in additional shares of Common Stock, or in cash by specific stockholder election, is to be paid on December 23, 2008 to stockholders of record at the close of business on December 8, 2008 (ex-dividend on December 4, 2008). The price of shares issued for reinvestment was $4.87. Total distributions to Common Stockholders declared in 2008 were $1.19 per share. For Federal income tax purposes, approximately 78% of the 2008 distributions will be taxable at long-term capital gains rates (including qualified dividend income) and 22% will consist of a return of capital.
Royce Micro-Cap Trust, Inc. has declared a cash dividend of $0.375 per share on its Cumulative Preferred Stock, based on an annual rate of 6.00% of the initial liquidation preference of $25.00 per share. The dividend is to be paid on December 23, 2008 to stockholders of record at the close of business on December 8, 2008 (ex-dividend December 4, 2008).
For Federal income tax purposes, approximately 100% of the 2008 distributions will be taxable at long-term capital gains rates (including qualified dividend income). Treatment of a portion of the dividends as long-term capital gains has the effect of providing individual preferred stockholders with a higher ordinary income tax-equivalent yield.
Royce Micro-Cap Trust, Inc. is a closed-end diversified investment company whose shares of Common Stock (RMT) and 6.00% Cumulative Preferred Stock (RMTpra) are listed and traded on the New York Stock Exchange. The Fund's investment goal is long-term capital growth, which it seeks by investing primarily in equity securities of companies that, at the time of investment, have market capitalization of $500 million or less.
Daily net asset values (NAVs) for Royce Micro-Cap Trust, Inc. are now available on our website and online through most ticker symbol lookup services and on broker terminals under the symbol XOTCX. For more information, please call The Royce Funds at (800) 221-4268 or visit our website at www.roycefunds.com
