Source Capital to redeem preferred stock on June 29 for $54.15 million

By Tali David

Minneapolis, May 30 - Source Capital, Inc. plans to redeem all 1,969,212 shares of its $2.40 preferred stock, $3.00 par value, according to a press release.

The preferreds will be redeemed at $27.50 per share plus accrued dividends on June 29.

Bank of New York Mellon is the redemption agent.

Source Capital is a closed-end investment company managed by Los Angeles-based First Pacific Advisors, LLC.

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