Sound Point Meridian Capital, Inc. (NYSE:SPMC) Plans Monthly Dividend of $0.24

Sound Point Meridian Capital, Inc. (NYSE:SPMC) declared a monthly dividend on Thursday, November 7th,NASDAQ Dividends reports. Shareholders of record on Wednesday, January 15th will be paid a dividend of 0.24 per share on Friday, January 31st. This represents a $2.88 dividend on an annualized basis and a yield of 13.95%. The ex-dividend date of this dividend is Wednesday, January 15th.

Sound Point Meridian Capital Stock Performance

Shares of NYSE SPMC opened at $20.65 on Monday. The stock’s 50 day simple moving average is $20.49. Sound Point Meridian Capital has a twelve month low of $18.20 and a twelve month high of $21.97.

Analyst Ratings Changes

Separately, B. Riley raised Sound Point Meridian Capital to a “strong-buy” rating in a research report on Tuesday, January 7th.

Insider Activity

In related news, Chairman Stephen Ketchum purchased 4,000 shares of Sound Point Meridian Capital stock in a transaction that occurred on Thursday, November 21st. The shares were acquired at an average price of $20.32 per share, with a total value of $81,280.00. Following the completion of the transaction, the chairman now directly owns 23,326 shares of the company’s stock, valued at $473,984.32. This represents a 20.70 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last quarter, insiders have bought 6,000 shares of company stock valued at $121,850.

Sound Point Meridian Capital Company Profile

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.