Royce Value Trust Inc | 5.90% Cumulative Preferred Stock (RVT.PRB)
Prospectus excerpt: The 5.90% Cumulative Preferred Stock, initial liquidation preference $25.00 per share is being offered by Royce Value Trust, Inc. The Fund is a closed-end diversified management investment company. The Fund's primary investment goal is long-term capital growth. The Fund normally invests at least 75% of its assets in the equity securities of small- and micro-cap companies. Dividends on the Cumulative Preferred Stock offered hereby, at the annual rate of 5.90% of the initial liquidation preference of $25.00 per share, are cumulative from the Date of Original Issue thereof and are payable quarterly on March 23, June 23, September 23 and December 23, commencing on December 23, 2003. Commencing October 9, 2008 and thereafter, the Fund at its option may redeem the Cumulative Preferred Stock, in whole or in part, for cash at a price equal to the Redemption Price. Prior to October 9, 2008, the Cumulative Preferred Stock will be redeemable at the option of the Fund at the Redemption Price, only to the extent necessary for the Fund to continue to qualify for tax treatment as a regulated investment company.
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