Source Capital, Inc. (NYSE:SOR) to Issue Monthly Dividend of $0.21

Key Points

• Monthly dividend: Source Capital declared a monthly dividend of $0.2083 per share, with a record (and ex-dividend) date of August 13 and a payment date of August 31, implying an annualized yield of 5.4%.
• Shares opened at $46.63 with a 50-day moving average of $46.77 and a 200-day moving average of $46.80; the 52-week range is $40.09–$50.41.
• Several institutional investors increased or initiated positions in the fourth quarter—most notably Align Financial adding a roughly $7.0 million new stake—and institutions now own about 13.15% of the company.

Source Capital, Inc. (NYSE:SOR - Get Free Report) announced a monthly dividend on Tuesday, April 21st. Stockholders of record on Thursday, August 13th will be given a dividend of 0.2083 per share by the financial services provider on Monday, August 31st. This represents a c) annualized dividend and a dividend yield of 5.4%. The ex-dividend date is Thursday, August 13th.

Source Capital Stock Up 0.7%

NYSE SOR opened at $46.63 on Wednesday. The company has a 50 day moving average of $46.77 and a 200-day moving average of $46.80. Source Capital has a 1-year low of $40.09 and a 1-year high of $50.41.

Institutional Trading of Source Capital

Several hedge funds have recently modified their holdings of the company. Anchor Investment Management LLC increased its holdings in shares of Source Capital by 1.6% during the fourth quarter. Anchor Investment Management LLC now owns 31,885 shares of the financial services provider's stock worth $1,459,000 after buying an additional 511 shares in the last quarter. Invesco Ltd. increased its holdings in shares of Source Capital by 10.5% during the fourth quarter. Invesco Ltd. now owns 30,487 shares of the financial services provider's stock worth $1,395,000 after buying an additional 2,891 shares in the last quarter. Smith Asset Management Co. LLC increased its holdings in shares of Source Capital by 0.8% during the fourth quarter. Smith Asset Management Co. LLC now owns 28,345 shares of the financial services provider's stock worth $1,297,000 after buying an additional 233 shares in the last quarter. Evolve Private Wealth LLC acquired a new stake in shares of Source Capital during the fourth quarter worth approximately $522,000. Finally, Align Financial LLC acquired a new stake in shares of Source Capital during the fourth quarter worth approximately $7,006,000. Institutional investors and hedge funds own 13.15% of the company's stock.

About Source Capital

Source Capital Inc is an externally managed specialty finance company that provides flexible financing solutions to U.S. middle-market companies. Structured as a closed-end investment company, it focuses on investing in both debt and equity securities of businesses seeking growth capital, refinancing, acquisitions, recapitalizations and other strategic initiatives.

The company's investment strategy encompasses senior secured loans, unitranche facilities, second-lien financings, mezzanine debt and equity co-investments.

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