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Source Capital, Inc. Declares Monthly Distribution on Common Stock

Nachrichtenquelle: Business Wire (engl.)
08.01.2021, 22:48  |  114   |   |   

The Board of Directors of Source Capital, Inc. (NYSE: SOR) (the “Fund”), today declared a regular monthly distribution of 8.3 cents a common share, payable January 29, 2021, to shareholders of record as of the close of business January 19, 2021. Consistent with the press release dated October 13, 2020, the Fund will pay out monthly distributions from this point forward.

Source Capital, Inc. is a closed-end investment company managed by First Pacific Advisors, LP.

Distributions may include ordinary income, net capital gains and/or returns of capital. Generally, a return of capital would occur when the amount distributed by the Fund includes a portion of (or is comprised entirely of) your investment in the Fund in addition to (or rather than) your pro-rata portion of the Fund’s net income or capital gains. The Fund’s distributions in any period may be more or less than the net return earned by the Fund on its investments, and therefore should not be used as a measure of performance or confused with “yield” or “income.” A return of capital is not taxable; rather it reduces a shareholder’s tax basis in his or her shares of the Fund. If the Fund estimates that a portion of its distribution may be comprised of amounts from sources other than net investment income, the Fund will notify shareholders of the estimated composition of such distribution through a separate written Section 19 notice. Such notices are provided for informational purposes only, and should not be used for tax reporting purposes. Final tax characteristics of all Fund distributions will be provided on Form 1099-DIV, which is mailed after the close of the calendar year.

It is important to note that differences exist between the Fund’s daily internal accounting records and practices, the Fund’s financial statements prepared in accordance with U.S. GAAP, and recordkeeping practices under income tax regulations. Please see the Fund’s most recent shareholder reports for more detailed tax information.

The Fund’s distribution rate may be affected by numerous factors, including changes in realized and projected market returns, Fund performance, and other factors. There can be no assurance that a change in market conditions or other factors will not result in a change in the Fund’s distribution rate at a future time.

As with any stock, the price of the Fund’s common shares will fluctuate with market conditions and other factors. Shares of closed-end management investment companies frequently trade at a price that is less than (a “discount”) or more than (a “premium”) their net asset value. If the Fund’s shares trade at a premium to net asset value, there is no assurance that any such premium will be sustained for any period of time and will not decrease, or that the shares will not trade at a discount to net asset value thereafter.

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Disclaimer

Source Capital, Inc. Declares Monthly Distribution on Common Stock The Board of Directors of Source Capital, Inc. (NYSE: SOR) (the “Fund”), today declared a regular monthly distribution of 8.3 cents a common share, payable January 29, 2021, to shareholders of record as of the close of business January 19, 2021. …

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