LOS ANGELES--(BUSINESS WIRE)--The Board of Directors of Source Capital, Inc. (NYSE:SOR), today declared a regular quarterly distribution of 80 cents a common share, payable December 15, 2014, to shareholders of record as of the close of business November 21, 2014. The Board of Directors has also declared a special year-end distribution of $1.00 a common share, payable December 15, 2014, to shareholders of record as of the close of business November 21, 2014.
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 2014.
Source Capital, Inc. is a closed-end investment company managed by First Pacific Advisors, LLC.