- Citing "the realization of significant long-term capital gains," Source Capital (NYSE:SOR) has declared a $33.65/share special distribution payable on March 15 to shareholders on record as of the Feb. 19 close. For reference, Source closed today at $63.84.
- The company has also declared its regular quarterly distribution of $0.41/share; it's also payable on March 15 to shareholders on record as of the Feb. 19 close. Source notes the distribution "represents an annualized rate of approximately 4.5% of net assets" after accounting for the special distribution.
- It expects to "make quarterly distributions at approximately this rate for the first three quarters of 2016," but cautions the Q4 distribution rate could drop to less than 2% if equity markets remain weak.