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Source Capital (NYSE:SOR) Stock, Option Chain

Source Capital

Source Capital Inc is a diversified, closed-end management investment company. The investment objective of the company is to seek maximum total return for Common shareholders from both capital appreciation and investment income to the extent consistent with the protection of invested capital.

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Source Capital Inc

STRATEGIC ELEMENTS LTD by STRATEGIC ELEMENTS LTD.

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SORA

SORRENTO RES LTD by Sorrento Resources Ltd.

Sorrento Resources Ltd

SORRENTO THERAPEUTICS INC by Sorrento Therapeutics, Inc.

Sorrento Therapeutics Inc

LOCATION SCIENCES GRP NEW by Location Sciences Group PLC

Sorted Group Holdings PLC

SORTIS HOLDINGS INC by Sortis Holdings, Inc.

Sortis Holdings Inc

Calls on 180 Capital Corp's Board of Directors to Engage with Source and Pursue Best Path to Maximize Shareholder Value
CHICAGO, Jan. 27, 2025 /PRNewswire/ -- Marlton Partners L.P. (together with its affiliates and group members, "Marlton" or "we"), beneficial owners of approximately 4.6% of the outstanding stock of 180 Degree Capital Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TURN#NASDAQ">TURN</a>) (the "Company"), today issued the following statement calling on the TURN Board of Directors (the "Board") to engage with Source Capital (NYSE:&nbsp;SOR) ("Source") and consider its proposed merger with TURN as announced on January 24, 2025.
We are pleased that additional market participants are beginning to appreciate our long-held view that the value of TURN's assets significantly exceed the Company's current stock price and market capitalization.

Management

TURN

Marlton Partners Comments On Source Capital Proposal To Merge With 180 Degree Capital; Calls On 180 Capital Corp's Board Of Directors To Engage With Source And Pursue Best Path To Maximize Shareholder Value

Source Capital (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SOR#NYSE">SOR</a>), a closed-end fund ("Source"), is interested in discussing a potential merger with 180 Degree Capital Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TURN#NASDAQ">TURN</a>) ("TURN"). First Pacific Advisors, LP ("FPA"), is the adviser to Source and is a registered investment adviser. FPA currently manages $27 billion, which includes $350 million1 related to its management of Source. FPA has a long history of investment excellence - of the 150 largest mutual fund families in the United States, Morningstar recently ranked FPA #2 in terms of "Average Morningstar Rating."2
We propose that TURN merge into Source in an all-stock transaction valuing TURN at 101% of net asset value per share ("NAV").3

Source Capital Proposes Merger With 180 Degree Capital Corp; Proposes That TURN Merge Into Source In An All-Stock Transaction Valuing Turn At 101% Of Net Asset Value Per Share

Dividends

Source Capital, Inc. Declares Special Distribution On Common Stock; To be Determined, Rate Is Estimated To Be ~1%-3% Of Net Asset Value And Is Expected To Be Determined On Or About December 27, 2024.

Source Capital, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SOR#NYSE">SOR</a>) (the "Fund"), announced that it will reorganize into a Delaware Trust after the close of business on December 31, 2024, under the terms and conditions approved by shareholders at the Annual Meeting held in July 2024. Upon the reorganization, the Fund's name will change to "Source Capital" but will continue to trade on the NYSE under the SOR ticker.
The Fund also announced that a special year-end distribution will be required for 2024. Due to the timing of the reorganization, the special year-end distribution will be declared at or near the end of December and paid in early January 2025. The distribution will be taxable in 2024 and is estimated to be approximately 1%-3% of net asset value. In future years, should a special year-end distribution be required, the Fund expects to return to its past practice of declaring and paying at the same time as the regular monthly distribution in December.

Source Capital Announces That It Will Reorganize Into A Delaware Trust After The Close Of Business On December 31, 2024; Upon The Reorganization, The Fund's Name Will Change To "Source Capital"; The Special Year-End Distribution Will Be Declared At Or Near The End Of December And Paid In Early January 2025, Estimated To Be ~1%-3% Of Net Asset Value

Thursday marks the last chance for investors to receive the next dividend payout from Source Capital (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SOR#NYSE">SOR</a>). 
<h3>What's Happening</h3>
The company announced on Thursday that it would pay shareholders a monthly dividend of 20.83 cents per share. On Friday, Source Capital will go ex-dividend, meaning the stock will trade lower to reflect that payout. In other words, the stock will likely open 20.83 cents lower than it would have opened on any other day.
In order to be eligible to receive a company's dividend, shareholders must own the stock prior to the ex-dividend date—in this case, Friday. Shareholders who own SOR as of the end of Thursday's session are eligible to receive the 20.83 cents dividend payout for every share that they own. 
According to the company, this dividend will be paid out to shareholders on December 29, 2023. Investors will then be able to either reinvest those dividends back into the stock or use the payment in some other way. 
<a href="https://www.benzinga.com/quote/SOR">Track real-time stock fluctuations for Source Capital on Benzinga.</a>

Thursday Is Your Last Chance To Buy Source Capital Before The Dividend Payout

Friday marks the last chance for investors to receive the next dividend payout from Source Capital (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SOR#NYSE">SOR</a>). 
<h3>What's Happening</h3>
The company announced on Monday that it would pay shareholders a monthly dividend of 20.83 cents per share. On Monday, Source Capital will go ex-dividend, meaning the stock will trade lower to reflect that payout. In other words, the stock will likely open 20.83 cents lower than it would have opened on any other day.
In order to be eligible to receive a company's dividend, shareholders must own the stock prior to the ex-dividend date—in this case, Monday. Shareholders who own SOR as of the end of Friday's session are eligible to receive the 20.83 cents dividend payout for every share that they own. 
According to the company, this dividend will be paid out to shareholders on July 31, 2023. Investors will then be able to either reinvest those dividends back into the stock or use the payment in some other way. 
<a href="https://www.benzinga.com/stock//dividends">Click here</a> to find details on Source Capital's previous dividends.
To keep track of which companies are distributing dividends, <a href="https://www.benzinga.com/calendars/dividends">click here</a> to visit our Dividends Calendar.

Source Capital: Dividend Insights

Friday marks the last chance for investors to receive the next dividend payout from Source Capital (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SOR#NYSE">SOR</a>). 
<h3>What's Happening</h3>
The company announced on Tuesday that it would pay shareholders a monthly dividend of 18.5 cents per share. On Monday, Source Capital will go ex-dividend, meaning the stock will trade lower to reflect that payout. In other words, the stock will likely open 18.5 cents lower than it would have opened on any other day.
In order to be eligible to receive a company's dividend, shareholders must own the stock prior to the ex-dividend date—in this case, Monday. Shareholders who own SOR as of the end of Friday's session are eligible to receive the 18.5 cents dividend payout for every share that they own. 
According to the company, this dividend will be paid out to shareholders on April 28, 2023. Investors will then be able to either reinvest those dividends back into the stock or use the payment in some other way. 
To read more news on Source Capital <a href="https://www.benzinga.com/stock//">click here</a>
<a href="https://www.benzinga.com/calendars/dividends">Click here</a> to visit our Dividends Calendar.

The Board of Directors of Source Capital, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SOR#NYSE">SOR</a>) (the &quot;Fund&quot;), today announced that for the Fund&#39;s Discount Management Program (the &quot;Program&quot;) measurement period from April 1, 2021 through December 31, 2021, the Fund traded at an average discount to net asset value (NAV) of less than&nbsp;10%, including that the Fund traded at a discount to NAV as low as&nbsp;3.8%&nbsp;during this period, its lowest discount in more than 10 years. As a result, the tender offer for calendar year 2021 under the Fund&#39;s Program will not occur.
In addition to the contingent tender offer in place for calendar year 2022 (as described in the March 5, 2021 press release), the Board approved a contingent tender offer for calendar year 2023. Under the terms of the updated Program, the Board approved extending the Program through the year ending December 31, 2023. Under the Program&#39;s extension, the Fund would conduct a tender offer for&nbsp;10%&nbsp;of the Fund&#39;s outstanding shares of common stock at a price equal to&nbsp;98%&nbsp;of NAV per share if its shares trade at an average discount to NAV of more than&nbsp;10%&nbsp;during the measurement period from January 1, 2023 through December 31, 2023. Should a tender offer be required it shall close no later than June 30, 2024. In the future, the Board may determine to extend the Program beyond 2023.
The Fund&#39;s portfolio managers, officers and Board of Directors do not intend to tender their shares if a tender is required under the Program for 2022 or 2023.
In addition to the Program, the Fund will continue to implement its Stock Repurchase Program to repurchase stock at prices that are accretive to shareholders.
The portfolio managers also announced that as of November 30, 2021, approximately&nbsp;22%&nbsp;of the Fund is invested in, or committed to, the private-credit/loan asset class. This is up from approximately&nbsp;12%&nbsp;as of December 31, 2020.
Finally, the Fund will host an investor call on February 16, 2022 at 1pm PST. Details of the call and how to submit questions will be posted at&nbsp;<a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Ffpa.com%2Ffunds%2Foverview%2Fsource-capital&amp;esheet=52557218&amp;newsitemid=20220104005352&amp;lan=en-US&amp;anchor=https%3A%2F%2Ffpa.com%2Ffunds%2Foverview%2Fsource-capital&amp;index=1&amp;md5=0abd6fadfa210f4fba092c562bcb2f05">https://fpa.com/funds/overview/source-capital</a>.

Source Capital Issues Update On Discount Management Program;

Source Capital, Inc. (&quot;SOR&quot; or the &quot;Fund&quot;) announced a change to its stock repurchase program (the &quot;Program&quot;) that will allow the Fund&#39;s portfolio managers, board members and officers to increase their personal investments in SOR stock. Effective immediately, the Fund will be required to halt repurchases of capital stock each month on the first two days that the New York Stock Exchange is open, in order for persons affiliated with the Fund to trade its stock (the &quot;Affiliated Purchaser Window&quot;). The Affiliated Purchaser Window will be canceled for any month that the dividend to be paid during such month was not declared by the Board and announced at least five business days prior to such Affiliated Purchaser Window, or as otherwise determined by the Board.

Buybacks

FPA Announces Update To Source Capital Stock Repurchase Program

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Source Capital Raises Its Common Share Annualized Rate From $1 To $1.46 Per Share

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Source Capital

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