Source Capital Raises Monthly Distribution 10.4% to $0.23 a Share

The board set a 23-cent monthly payout for each of the three months, replacing the 20.83-cent rate. The increase is about 10.4% based on the stated rates, and the new rate annualizes to $2.76 per share, compared with $2.50 at the previous rate.

The December payment is scheduled for Dec. 30 to shareholders of record Dec. 16. The January payment is scheduled for Jan. 29 to shareholders of record Jan. 15, followed by a Feb. 26 payment to shareholders of record Feb. 12. A record date determines which shareholders qualify for a distribution.

Source Capital is a closed-end investment company managed by First Pacific Advisors. Its shares trade on the New York Stock Exchange under the ticker SOR.