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, Inc. (NYSE: SOR) is a closed-end investment company managed by First Pacific Advisors, LP, with an investment objective of seeking maximum total return for shareholders from both capital appreciation and investment income, consistent with the protection of invested capital. The news flow around SOR frequently centers on decisions by its Board of Directors or Board of Trustees regarding regular monthly distributions and special year-end distributions on its common stock.
On this page, readers can follow announcements about Source Capital’s regular distribution schedule, including record dates and payable dates for monthly payments, as well as special distributions tied to realized capital gains. These updates often reiterate the Fund’s long-term orientation, its focus on longer duration assets such as dividend-paying equities, and its ability to invest in illiquid assets like private loans in pursuit of its stated objective.
News items also highlight the Fund’s broader risk disclosures, including commentary on value style investing, non-U.S. securities, fixed income instruments, private placements, and SPAC investments. In addition, third-party releases have discussed Source Capital in the context of proposed merger activity in the closed-end fund space, referencing its role as a potential acquirer and focusing on net asset value considerations and shareholder value.
Investors and observers who follow SOR-related news can use this feed to monitor distribution declarations, special tax-driven payouts, and references to Source Capital in external corporate action discussions. Returning to this page provides a way to see how the Fund communicates its objectives, risk profile, and structural characteristics over time through official announcements and related market commentary.
The Board of Directors of Source Capital, Inc. (NYSE: SOR) announced that for the Discount Management Program period from April 1, 2021 to December 31, 2021, the Fund traded at an average discount to net asset value (NAV) of less than 10%, reaching a low of 3.8%. Consequently, no tender offer will be conducted for 2021. A contingent tender offer for 2023 has been approved, positioned if the average discount exceeds 10% during the upcoming measurement period. Additionally, as of November 30, 2021, 22% of the Fund is now committed to private-credit.
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Source Capital has revised its stock repurchase program to allow portfolio managers and officers to enhance their investments in SOR stock. Effective immediately, the Fund will stop repurchasing its stock during the first two trading days each month, enabling affiliated persons to trade. This Affiliated Purchaser Window will be canceled if the monthly dividend hasn't been declared at least five business days before. This change indicates a strategic move to boost insider confidence and could potentially impact shareholder value.
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Source Capital, Inc. (NYSE: SOR) announced an increase in its annualized distribution rate to $2.22 per common share, equating to 18.5 cents per share monthly for the next three months. This results in a 5.25% distribution rate based on the March 4, 2021 closing price, marking a 122% increase from February 2021. The Fund also approved a Discount Management Program to conduct tender offers if shares trade at an average discount exceeding 10%. Additionally, the Fund’s portfolio includes 12% in private-credit assets, achieving its year-end goal.
The Board of Directors of Source Capital announced a 46% increase in its monthly distribution rate, raising it from an annualized rate of $1.00 to $1.46 per common share. This translates to regular monthly distributions of 12.167 cents each for March, April, and May 2021. The record and payable dates for these distributions are specified for each month. Source Capital is a closed-end investment company aiming for maximum total return for shareholders.
The Board of Directors of Source Capital (NYSE: SOR) announced a regular monthly distribution of 8.3 cents per share, payable on February 26, 2021, to shareholders of record as of February 12, 2021. Source Capital is a closed-end investment company managed by First Pacific Advisors, LP. Distributions may include ordinary income, net capital gains, or returns of capital, which reduce a shareholder’s tax basis in their shares. Future distribution rates may fluctuate based on market conditions and fund performance.
The Board of Directors of Source Capital, Inc. (NYSE: SOR) has declared a regular monthly distribution of 8.3 cents per common share, payable on January 29, 2021. Shareholders of record as of the close of business January 19, 2021 will receive this distribution. The fund is committed to ongoing monthly distributions. The distribution may include ordinary income, net capital gains, or returns of capital. It is important for shareholders to note that these distributions may not accurately reflect the Fund’s performance and are subject to market factors that can affect future rates.
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