Welcome to our dedicated page for Source Capital news (Ticker: SOR), a resource for investors and traders seeking the latest updates and insights on Source Capital stock.
Source Capital is a diversified closed-end management investment company traded on the NYSE under SOR. The Fund seeks total return for common shareholders from capital appreciation and investment income, with attention to protection of invested capital.
Recurring company updates center on monthly common-stock distributions, U.S. federal tax treatment of dividends and deemed distributions, NAV-related discount management, contingent tender-offer mechanics, stock repurchases, leverage risks, portfolio statistics, and matters involving its investment adviser, FPA.
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The Board of Directors of Source Capital (NYSE: SOR) announced that for the Discount Management Program's measurement period from January 1 to December 31, 2022, the Fund traded at an average discount to NAV of less than 10%, with a year-end discount of 4.0%, the lowest in a decade. Consequently, no tender offer for 2022 will take place. The Board approved a contingent tender offer for 10% of shares for 2023 and 2024 if discounts exceed 10%. The Fund will continue its Stock Repurchase Program and reported a 29% allocation in private-credit/loan assets as of November 30, 2022.
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