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

Source Capital, Inc. (NYSE:SOR) declared a monthly dividend on Thursday, April 18th, Wall Street Journal reports. Investors of record on Tuesday, July 16th will be given a dividend of 0.2083 per share by the financial services provider on Wednesday, July 31st. This represents a $2.50 dividend on an annualized basis and a yield of 6.06%. The ex-dividend date of this dividend is Tuesday, July 16th.

Source Capital has increased its dividend payment by an average of 33.6% annually over the last three years and has raised its dividend every year for the last 1 years.

Source Capital Stock Performance

NYSE SOR opened at $41.26 on Friday. The company has a fifty day moving average of $41.57 and a 200 day moving average of $40.22. Source Capital has a 1 year low of $36.48 and a 1 year high of $42.92.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SOR. Commonwealth Equity Services LLC acquired a new position in Source Capital during the third quarter valued at $572,000. Quarry LP acquired a new position in shares of Source Capital in the first quarter worth about $266,000. Clough Capital Partners L P acquired a new position in shares of Source Capital in the first quarter worth about $266,000. Wells Fargo & Company MN raised its position in shares of Source Capital by 12.0% in the second quarter. Wells Fargo & Company MN now owns 63,977 shares of the financial services provider’s stock worth $2,389,000 after acquiring an additional 6,853 shares during the period. Finally, Susquehanna International Group LLP acquired a new position in shares of Source Capital in the first quarter worth about $255,000. 13.15% of the stock is currently owned by institutional investors and hedge funds.

About Source Capital

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.