Breaking News: Source Capital Inc. Announces Special Distribution for December 2024!
Description:
LOS ANGELES–(BUSINESS WIRE)–The Board of Directors of Source Capital, Inc. (NYSE: SOR) (the “Fund”), approved a special distribution in December as follows:
Special Distribution:
Month: December 2024
Rate per Common Share: $2.65841
Record Date: December 30, 2024
Payable Date: January 9, 2025
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.
Content:
Source Capital Inc. has recently announced a special distribution for December 2024, providing an exciting opportunity for shareholders to receive a payout of $2.65841 per common share. This special distribution comes as a result of the Fund’s Board of Directors’ approval, showcasing their commitment to providing value to investors.
For shareholders of Source Capital Inc., this special distribution serves as a valuable addition to their investment portfolio. By receiving a generous payout, investors can enhance their overall returns and potentially reinvest these funds back into the market for further growth opportunities. This special distribution demonstrates the Fund’s dedication to rewarding shareholders and maximizing returns on their investments.
As per the Internal Revenue Code, regulated investment companies like Source Capital Inc. are required to distribute the majority of their net investment income and capital gains to shareholders by a specified date. This ensures that shareholders receive their fair share of the Fund’s profits and allows for transparency in the distribution process.
Overall, the special distribution announced by Source Capital Inc. for December 2024 is a positive development for shareholders, providing them with a tangible benefit from their investment in the Fund. As investors eagerly anticipate the upcoming payout, they can look forward to enhancing their investment returns and capitalizing on this lucrative opportunity.
How this will affect me:
As a shareholder of Source Capital Inc., the special distribution announced for December 2024 will have a direct impact on me. I will have the opportunity to receive a payout of $2.65841 per common share, which can significantly enhance my investment returns and provide me with additional funds to reinvest or use as needed. This special distribution highlights the Fund’s commitment to rewarding shareholders and maximizing returns, benefiting me as an investor.
How this will affect the world:
The special distribution announced by Source Capital Inc. for December 2024 showcases the Fund’s dedication to providing value to shareholders and maximizing returns on investments. This commitment to transparent and equitable distribution practices sets a positive example for other regulated investment companies in the industry, promoting fairness and accountability in the investment process. By prioritizing shareholder returns and financial transparency, Source Capital Inc. is contributing to a more ethical and investor-friendly financial landscape.
Conclusion:
In conclusion, the special distribution announced by Source Capital Inc. for December 2024 is a significant development for shareholders, offering them a lucrative opportunity to receive a payout of $2.65841 per common share. This special distribution reflects the Fund’s commitment to rewarding investors and maximizing returns, while also adhering to regulatory requirements for the distribution of net investment income and capital gains. As shareholders eagerly anticipate the upcoming payout, they can look forward to benefiting from this valuable opportunity and potentially enhancing their overall investment returns.
