Source Capital, Inc. (SOR) To Go Ex-Dividend on August 15th

Source Capital, Inc. (NYSE:SOR – Get Rating) declared a monthly dividend on Thursday, May 12th, Wall Street Journal reports. Shareholders of record on Tuesday, August 16th will be given a dividend of 0.185 per share by the financial services provider on Wednesday, August 31st. This represents a $2.22 dividend on an annualized basis and a yield of 5.76%. The ex-dividend date of this dividend is Monday, August 15th.

Source Capital has increased its dividend payment by an average of 5.8% per year over the last three years.

SOR opened at $38.55 on Friday. The company’s 50 day simple moving average is $40.37 and its two-hundred day simple moving average is $42.47. Source Capital has a 1-year low of $37.07 and a 1-year high of $47.50.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SOR. Raymond James Financial Services Advisors Inc. lifted its stake in Source Capital by 2.5% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 11,375 shares of the financial services provider’s stock worth $478,000 after purchasing an additional 274 shares in the last quarter. Morgan Stanley lifted its stake in Source Capital by 2.5% in the 2nd quarter. Morgan Stanley now owns 32,681 shares of the financial services provider’s stock worth $1,488,000 after purchasing an additional 792 shares in the last quarter. Raymond James & Associates lifted its stake in Source Capital by 2.2% in the 1st quarter. Raymond James & Associates now owns 40,877 shares of the financial services provider’s stock worth $1,717,000 after purchasing an additional 885 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its stake in Source Capital by 9.6% in the 4th quarter. Wells Fargo & Company MN now owns 53,526 shares of the financial services provider’s stock worth $2,312,000 after purchasing an additional 4,700 shares in the last quarter. 17.45% of the stock is currently owned by institutional investors and hedge funds.

Source Capital Company Profile (Get Rating)

Source Capital, Inc is a close-ended balanced fund launched and managed by First Pacific Advisors, LLC. The fund invests in the public equity markets of the United States. It seeks to invest in the stocks of companies operating across diversified sectors. The fund primarily invests in value stocks of small to mid cap companies.

Read More