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

Sound Point Meridian Capital logo with Finance background

Sound Point Meridian Capital, Inc. (NYSE:SPMC - Get Free Report) declared a monthly dividend on Friday, February 7th,Wall Street Journal reports. Investors of record on Friday, June 13th will be paid a dividend of 0.25 per share on Monday, June 30th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 14.35%. The ex-dividend date is Friday, June 13th.

Sound Point Meridian Capital Stock Up 0.4 %

Shares of SPMC traded up $0.09 during midday trading on Tuesday, reaching $20.91. 15,811 shares of the stock were exchanged, compared to its average volume of 29,253. Sound Point Meridian Capital has a twelve month low of $18.20 and a twelve month high of $21.97. The business's 50-day moving average price is $20.64 and its 200 day moving average price is $20.06.

Insider Activity

In other news, Chairman Stephen Ketchum purchased 4,000 shares of the company's stock in a transaction dated Thursday, November 21st. The stock was acquired at an average price of $20.32 per share, for a total transaction of $81,280.00. Following the completion of the transaction, the chairman now directly owns 23,326 shares in the company, valued at $473,984.32. This represents a 20.70 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Insiders purchased 6,000 shares of company stock worth $121,850 in the last 90 days.

Analyst Ratings Changes

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

Check Out Our Latest Analysis on SPMC

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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