Source Capital, Inc. (NYSE:SOR – Get Rating) announced a monthly dividend on Wednesday, May 11th, Wall Street Journal reports. Stockholders of record on Monday, July 18th will be paid a dividend of 0.185 per share by the financial services provider on Friday, July 29th. This represents a $2.22 annualized dividend and a dividend yield of 5.98%. The ex-dividend date is Friday, July 15th.
Source Capital has increased its dividend payment by an average of 5.8% annually over the last three years.
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SOR opened at $37.11 on Thursday. The stock's 50 day moving average price is $38.03 and its two-hundred day moving average price is $40.34. Source Capital has a 12-month low of $36.20 and a 12-month high of $47.50.
In other news, VP Ryan A. Leggio purchased 1,000 shares of the company's stock in a transaction dated Thursday, June 2nd. The stock was bought at an average cost of $39.55 per share, for a total transaction of $39,550.00. Following the purchase, the vice president now owns 4,000 shares of the company's stock, valued at $158,200. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Mark L. Lipson purchased 1,325 shares of the firm's stock in a transaction on Friday, July 1st. The shares were acquired at an average price of $37.83 per share, with a total value of $50,124.75. Following the completion of the acquisition, the director now owns 4,046 shares in the company, valued at approximately $153,060.18. The disclosure for this purchase can be found here. 76.97% of the stock is currently owned by company insiders.
An institutional investor recently raised its position in Source Capital stock. Raymond James & Associates lifted its stake in shares of Source Capital, Inc. (NYSE:SOR – Get Rating) by 2.2% in the first quarter, according to its most recent filing with the SEC. The fund owned 40,877 shares of the financial services provider's stock after acquiring an additional 885 shares during the period. Raymond James & Associates owned approximately 0.49% of Source Capital worth $1,717,000 as of its most recent SEC filing. 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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