Source Capital, Inc. Declares Monthly Dividend of $0.19 (NYSE:SOR)

Source Capital, Inc. (NYSE:SOR – Get Rating) announced a monthly dividend on Wednesday, May 11th, Wall Street Journal reports. Stockholders of record on Thursday, June 16th will be given a dividend of 0.185 per share by the financial services provider on Thursday, June 30th. This represents a $2.22 annualized dividend and a dividend yield of 5.84%. The ex-dividend date is Wednesday, June 15th.

Source Capital has raised its dividend payment by an average of 5.8% annually over the last three years.

Shares of SOR stock opened at $38.00 on Thursday. Source Capital has a 52-week low of $37.26 and a 52-week high of $47.50. The stock has a 50 day moving average price of $40.44 and a 200 day moving average price of $42.50.

A number of hedge funds have recently made changes to their positions in the stock. Raymond James Financial Services Advisors Inc. lifted its position in Source Capital by 2.5% during 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 acquiring an additional 274 shares during the period. Morgan Stanley increased its stake in Source Capital by 2.5% during the 2nd quarter. Morgan Stanley now owns 32,681 shares of the financial services provider’s stock worth $1,488,000 after buying an additional 792 shares in the last quarter. Raymond James & Associates increased its stake in Source Capital by 2.2% during the 1st quarter. Raymond James & Associates now owns 40,877 shares of the financial services provider’s stock worth $1,717,000 after buying an additional 885 shares in the last quarter. Finally, Wells Fargo & Company MN increased its stake in Source Capital by 9.6% during the 4th quarter. Wells Fargo & Company MN now owns 53,526 shares of the financial services provider’s stock worth $2,312,000 after buying an additional 4,700 shares in the last quarter. Hedge funds and other institutional investors own 17.45% of the company’s stock.

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.

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