Source Capital (SOR) Declares $0.21 Dividend

Source Capital said on May 8, 2023 that its board of directors declared a regular monthly dividend of $0.21 per share ($2.50 annualized). Previously, the company paid $0.18 per share.

Shares must be purchased before the ex-div date of June 15, 2023 to qualify for the dividend. Shareholders of record as of June 16, 2023 will receive the payment on June 30, 2023.

At the current share price of $36.72 / share, the stock's dividend yield is 6.81%.

Looking back five years and taking a sample every week, the average dividend yield has been 5.92%, the lowest has been 2.36%, and the highest has been 13.42%. The standard deviation of yields is 3.52 (n=196).

The current dividend yield is 0.25 standard deviations above the historical average.

The company's 3-Year dividend growth rate is 1.22%, demonstrating that it has increased its dividend over time.

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What is the Fund Sentiment?

There are 44 funds or institutions reporting positions in Source Capital. This is an increase of 4 owner(s) or 10.00% in the last quarter. Average portfolio weight of all funds dedicated to SOR is 0.23%, an increase of 28.64%. Total shares owned by institutions decreased in the last three months by 3.34% to 1,232K shares.

What are Other Shareholders Doing?

Chemistry Wealth Management holds 244K shares. In it's prior filing, the firm reported owning 299K shares, representing a decrease of 22.17%. The firm increased its portfolio allocation in SOR by 71,338.87% over the last quarter.

Saba Capital Management holds 199K shares. In it's prior filing, the firm reported owning 235K shares, representing a decrease of 17.71%. The firm increased its portfolio allocation in SOR by 12.61% over the last quarter.

Shaker Financial Services holds 155K shares. In it's prior filing, the firm reported owning 58K shares, representing an increase of 62.93%. The firm increased its portfolio allocation in SOR by 146.28% over the last quarter.

D.a. Davidson holds 107K shares. In it's prior filing, the firm reported owning 100K shares, representing an increase of 6.50%. The firm decreased its portfolio allocation in SOR by 0.29% over the last quarter.

First Trust Advisors holds 86K shares. In it's prior filing, the firm reported owning 87K shares, representing a decrease of 1.09%. The firm increased its portfolio allocation in SOR by 0.07% over the last quarter.

Source Capital Background Information
(This description is provided by the company.)

Source Capital, Inc. is a closed-end investment company managed by First Pacific Advisors, LP. Its shares are listed on the New York Stock Exchange under the symbol "SOR." The investment objective of the Fund is to seek maximum total return for shareholders from both capital appreciation and investment income to the extent consistent withprotection of invested capital. The Fund may invest in longer duration assets like dividend paying equities and illiquid assets like private loans in pursuit of its investment objective and is thus intended only for those investors with a long-term investment horizon (greater than or equal to ~5 years).

This story originally appeared on Fintel.