Source Capital, Inc. : Declares Regular Quarterly and Special Distributions on Common Stock
November 12, 2018 at 05:01 pm EST
Share
The Board of Directors of Source Capital, Inc. (NYSE:SOR), today
declared a regular quarterly distribution and special distribution as
follows:
Regular Quarterly Distribution
Rate:
$0.25 per share
Ex Date:
November 29, 2018
Record Date:
November 30, 2018
Pay Date:
December 15, 2018
Tax characteristics are based on operational results for entire calendar
year 2018.
Special Distribution
Rate:
$3.20 per share
Ex Date:
November 29, 2018
Record Date:
November 30, 2018
Pay Date:
December 15, 2018
The Internal Revenue Code requires a regulated investment company to
distribute substantially all of its net investment income and net
realized capital gains to shareholders of record on or before December
31 in order to avoid the imposition of a federal excise tax. The special
year-end distribution was declared because the Company has realized
substantial capital gains during 2018.
About Source Capital, Inc.
Source Capital, Inc. (the “Fund”) (www.fpa.com)
is a diversified, closed-end management investment company seeking
maximum total return for shareholders from both capital appreciation and
investment income to the extent consistent with protection of invested
capital. Its shares are listed on the New York Stock Exchange under the
symbol “SOR.” The Fund is managed by First Pacific Advisors, L.P.
You should consider the Fund’s investment objectives, risks, and
charges and expenses carefully before you invest. You can obtain
additional information by visiting the website at www.fpa.com,
by email at crm@fpa.com,
toll free by calling shareholder services at 1-800-279-1241 (option 1),
or by contacting the Fund in writing.
Investments in closed-end funds carry risks and investors may lose
principal value. Closed-end fund shares may frequently trade at a
discount or premium to their net asset value. Stock markets are volatile
and can decline significantly in response to adverse issuer, political,
regulatory, market, or economic developments. Fixed income securities
are subject to interest rate, inflation and credit risks. The return of
principal for a bond is not guaranteed. It is important to remember that
there are risks inherent in any investment and there is no assurance
that any investment or asset class will provide positive performance
over time. Value style investing presents the risk that the holdings or
securities may never reach our estimate of intrinsic value because the
market fails to recognize what the portfolio management team considers
the true business value or because the portfolio management team has
misjudged those values. In addition, value style investing may fall out
of favor and underperform growth or other style investing during given
periods. Non-U.S. investing presents additional risks, such as the
potential for adverse political, currency, economic, social or
regulatory developments in a country, including lack of liquidity,
excessive taxation, and differing legal and accounting standards.
Non-U.S. securities, including American Depository Receipts (ADRs) and
other depository receipts, are also subject to interest rate and
currency exchange rate risks. Past performance is no guarantee, nor is
it indicative, of future results.
View source version on businesswire.com: https://www.businesswire.com/news/home/20181112005779/en/
Source Capital, Inc. (the Fund) is a diversified, closed-end management investment company. The investment objective of the Fund is to seek maximum total return for common shareholders from both capital appreciation and investment income to the extent consistent with protection of invested capital. The Fund's investments include semiconductor devices; industrial distribution and rental; cement and aggregates; Internet media; cable and satellite; application software; electrical components; chemicals; insurance brokers; diversified banks; base metals; banks; investment companies; food services; integrated utilities; railroad rolling stock, apparel, footwear and accessory design; e-commerce discretionary, hotels; restaurants and leisure; commercial and residential building equipment and systems; automotive retailers; real estate owners and developers; entertainment content; energy; health care services and others. The Fund's investment adviser is First Pacific Advisors, LP.