LOS ANGELES--(BUSINESS WIRE)--The Board of Directors of Source Capital, Inc. (NYSE:SOR), today declared a regular quarterly distribution of 35 cents a common share, payable March 15, 2017, to shareholders of record as of the close of business February 24, 2017. The Fund expects to maintain its managed distribution policy during 2017.
In addition, the Fund’s Board of Directors has renewed its stock repurchase program for calendar year 2017. Details regarding the stock repurchase plan can be found in the November 17, 2015 press release available at http://www.sourcecapitalinc.com.
As discussed in the November press release, under the program, the Fund is authorized to make open market repurchases of its common stock of up to 10% of the Fund’s outstanding shares at such times as the Fund’s shares trade at a greater than 10% discount to the Fund’s net asset value, when in FPA’s judgment such repurchases would benefit shareholders, subject to various factors, including the limitations imposed by the federal securities laws governing the repurchase of an issuer’s stock by the issuer and FPA’s ability to raise cash to repurchase shares of the Fund’s common stock in a tax-efficient manner. There is no assurance that the Fund will purchase shares at any specific discount levels or in any specific amounts.
Source Capital, Inc. is a closed-end investment company managed by First Pacific Advisors, LLC.
About Source Capital, Inc.
The Fund (www.sourcecapitalinc.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, LLC.
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.sourcecapitalinc.com, by email at firstname.lastname@example.org, toll free by calling 1-800-279-1241 (option 1), or by contacting the Fund in writing.
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