Source Capital
 (SOR)

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  • Mon, Feb. 8, 7:03 PM
    • 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.
    | Mon, Feb. 8, 7:03 PM | 5 Comments
Company Description
Maximum total return for common shareholders from both capital appreciation and investment income to the extent consistent with protection of invested capital and provision for sufficient income to meet the dividend requirements of preferred shareholders.;