Source Capital, Inc. (SOR) to Issue Quarterly Dividend of $0.24 on December 15th
Source Capital, Inc. (NYSE:SOR) announced a quarterly dividend on Tuesday, November 14th, Wall Street Journal reports. Investors of record on Friday, November 24th will be given a dividend of 0.24 per share by the financial services provider on Friday, December 15th. This represents a $0.96 dividend on an annualized basis and a yield of 2.37%. The ex-dividend date is Wednesday, November 22nd.
Source Capital has decreased its dividend payment by an average of 20.5% annually over the last three years.
Shares of Source Capital (SOR) opened at $40.43 on Tuesday. Source Capital has a twelve month low of $35.37 and a twelve month high of $41.33.
In other Source Capital news, VP Thomas H. Atteberry acquired 1,000 shares of the firm’s stock in a transaction on Tuesday, September 26th. The stock was bought at an average cost of $40.08 per share, for a total transaction of $40,080.00. Following the completion of the purchase, the vice president now directly owns 2,000 shares in the company, valued at $80,160. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Thomas H. Atteberry acquired 1,500 shares of the firm’s stock in a transaction on Monday, October 2nd. The shares were acquired at an average price of $40.35 per share, with a total value of $60,525.00. Following the completion of the purchase, the vice president now owns 3,500 shares of the company’s stock, valued at $141,225. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 3,380 shares of company stock valued at $136,476. 78.47% of the stock is owned by insiders.
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Source Capital Company Profile
Source Capital, Inc (the Fund) is a diversified, closed-end management investment company. The investment objective of the Fund is to seek maximum total return for Common shareholders from both capital appreciation and investment income to the extent consistent with protection of invested capital. The Fund’s investments include semiconductor devices, advertising and marketing, life science equipment, exploration and production, commercial mortgage-backed securities, insurance brokers, communications equipment, electrical power equipment, food and drug stores, corporate bonds and notes, residential mortgage-backed securities, asset-backed securities, corporate bank debt, other common stocks and electrical components.
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