Source Capital, Inc. (SOR) Plans Quarterly Dividend of $0.24
Source Capital, Inc. (NYSE:SOR) declared 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 annualized dividend and a yield of 2.40%. The ex-dividend date of this dividend is Wednesday, November 22nd.
Source Capital has decreased its dividend payment by an average of 20.5% per year over the last three years.
Source Capital (NYSE SOR) traded down $0.25 on Tuesday, reaching $40.01. The company had a trading volume of 16,200 shares, compared to its average volume of 20,855. Source Capital has a fifty-two week low of $35.37 and a fifty-two week high of $41.33.
In other Source Capital news, VP Thomas H. Atteberry acquired 1,500 shares of the company’s stock in a transaction on Monday, October 2nd. The stock was acquired at an average price of $40.35 per share, for a total transaction of $60,525.00. Following the acquisition, the vice president now owns 3,500 shares in the company, valued at approximately $141,225. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Thomas H. Atteberry acquired 1,000 shares of the company’s stock in a transaction on Tuesday, September 26th. The stock was acquired at an average price of $40.08 per share, with a total value of $40,080.00. Following the acquisition, the vice president now owns 2,000 shares in the company, valued at approximately $80,160. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 3,380 shares of company stock worth $136,476. 78.47% of the stock is owned by corporate insiders.
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About Source Capital
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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