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

Sound Point Meridian Capital, Inc. (NYSE:SPMC) announced a monthly dividend on Tuesday, November 12th, Wall Street Journal reports. Shareholders of record on Friday, March 14th will be paid a dividend of 0.24 per share on Monday, March 31st. This represents a $2.88 annualized dividend and a yield of 13.75%. The ex-dividend date of this dividend is Friday, March 14th.

Sound Point Meridian Capital Stock Performance

Shares of NYSE SPMC opened at $20.94 on Wednesday. The firm’s 50-day moving average price is $20.89 and its 200-day moving average price is $20.29. Sound Point Meridian Capital has a 12-month low of $18.20 and a 12-month high of $22.30.

Sound Point Meridian Capital (NYSE:SPMC) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.11.

Wall Street Analysts Forecast Growth

Separately, B. Riley raised shares of 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.