Source Capital, Inc. (NYSE:SOR) Plans $0.21 Monthly Dividend

Source Capital, Inc. (NYSE:SOR) declared a monthly dividend on Thursday, January 25th, Wall Street Journal reports. Stockholders of record on Thursday, April 18th will be given a dividend of 0.2083 per share by the financial services provider on Tuesday, April 30th. This represents a $2.50 annualized dividend and a dividend yield of 6.06%. The ex-dividend date is Wednesday, April 17th.

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

Source Capital Trading Down 0.8 %

Shares of NYSE:SOR opened at $41.23 on Tuesday. Source Capital has a 1 year low of $36.48 and a 1 year high of $42.92. The firm has a fifty day moving average price of $41.53 and a 200 day moving average price of $40.19.

Institutional Investors Weigh In On Source Capital

A number of large investors have recently bought and sold shares of SOR. Envestnet Asset Management Inc. lifted its position in Source Capital by 6.6% during the 3rd quarter. Envestnet Asset Management Inc. now owns 23,623 shares of the financial services provider’s stock worth $912,000 after acquiring an additional 1,470 shares during the last quarter. Commonwealth Equity Services LLC lifted its position in Source Capital by 7.9% during the 2nd quarter. Commonwealth Equity Services LLC now owns 17,848 shares of the financial services provider’s stock worth $684,000 after acquiring an additional 1,302 shares during the last quarter. 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 last quarter. Quarry LP acquired a new position in Source Capital during the 1st quarter worth $266,000. Finally, Clough Capital Partners L P acquired a new position in Source Capital during the 1st quarter worth $266,000. 13.15% of the stock is currently owned by institutional investors.

Source Capital Company Profile

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.