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

Sound Point Meridian Capital, Inc. (NYSE:SPMC) announced a dividend on Wednesday, January 15th,investing.com reports. Shareholders of record on Thursday, January 16th will be paid a dividend of 0.24 per share on Friday, January 31st. This represents a yield of 14.12%. The ex-dividend date of this dividend is Wednesday, January 15th.

Sound Point Meridian Capital Trading Down 0.5 %

Shares of SPMC stock opened at $20.39 on Thursday. Sound Point Meridian Capital has a fifty-two week low of $18.20 and a fifty-two week high of $21.97. The company has a 50-day moving average price of $20.58.

Insider Buying and Selling at Sound Point Meridian Capital

In related news, Chairman Stephen Ketchum acquired 4,000 shares of the firm’s stock in a transaction dated Thursday, November 21st. The stock was acquired at an average price of $20.32 per share, with a total value of $81,280.00. Following the acquisition, 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Over the last three months, insiders have acquired 6,000 shares of company stock valued at $121,850.

Analyst Ratings Changes

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

About Sound Point Meridian Capital

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.