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

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

Sound Point Meridian Capital Price Performance

Shares of NYSE SPMC opened at $20.65 on Monday. The business has a fifty day moving average of $20.49. Sound Point Meridian Capital has a 1-year low of $18.20 and a 1-year high of $21.97.

Insider Transactions at Sound Point Meridian Capital

In other news, Chairman Stephen Ketchum acquired 4,000 shares of the firm’s stock in a transaction dated Thursday, November 21st. The stock was purchased at an average price of $20.32 per share, for a total transaction of $81,280.00. Following the completion of the acquisition, the chairman now directly owns 23,326 shares in the company, valued at $473,984.32. The trade was a 20.70 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Over the last 90 days, insiders have acquired 6,000 shares of company stock worth $121,850.

Wall Street Analysts Forecast Growth

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

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.