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Sound Point Meridian Capital, Inc. (NYSE:SPMC) Declares Monthly Dividend of $0.25

Sound Point Meridian Capital logo with Finance background

Sound Point Meridian Capital, Inc. (NYSE:SPMC - Get Free Report) announced a monthly dividend on Thursday, February 6th,Wall Street Journal reports. Investors of record on Friday, June 13th will be given a dividend of 0.25 per share on Monday, June 30th. This represents a $3.00 annualized dividend and a yield of 14.42%. The ex-dividend date is Friday, June 13th. This is an increase from Sound Point Meridian Capital's previous monthly dividend of $0.24.

Sound Point Meridian Capital Stock Down 0.5 %

NYSE SPMC traded down $0.10 during trading on Monday, hitting $20.81. The company had a trading volume of 41,406 shares, compared to its average volume of 29,877. The company's fifty day moving average is $20.64 and its 200-day moving average is $20.05. Sound Point Meridian Capital has a one year low of $18.20 and a one year high of $21.97.

Analysts Set New Price Targets

Separately, B. Riley upgraded Sound Point Meridian Capital to a "strong-buy" rating in a report on Tuesday, January 7th.

Check Out Our Latest Report on Sound Point Meridian Capital

Insider Buying and Selling at Sound Point Meridian Capital

In related news, Chairman Stephen Ketchum purchased 4,000 shares of the business's stock in a transaction that occurred on Thursday, November 21st. The shares were bought at an average price of $20.32 per share, for a total transaction of $81,280.00. Following the purchase, the chairman now directly owns 23,326 shares of the company's stock, valued at approximately $473,984.32. This represents a 20.70 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last 90 days, insiders bought 6,000 shares of company stock valued at $121,850.

Sound Point Meridian Capital Company Profile

(Get Free Report)

Sound Point Meridian Capital Inc is an externally managed, non-diversified closed-end management investment company. Its investment objective is to generate high current income, with a secondary objective to generate capital appreciation, by investing primarily in third-party collateralized loan obligation equity and mezzanine tranches.

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Dividend History for Sound Point Meridian Capital (NYSE:SPMC)

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