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

Sound Point Meridian Capital, Inc. (NYSE:SPMC) declared a monthly dividend on Wednesday, February 5th, NASDAQ Dividends reports. Stockholders of record on Tuesday, April 15th will be paid a dividend of 0.25 per share on Wednesday, April 30th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 16.30%. The ex-dividend date of this dividend is Tuesday, April 15th.

Sound Point Meridian Capital Stock Performance

SPMC opened at $18.40 on Friday. The stock’s 50 day simple moving average is $20.44 and its 200-day simple moving average is $20.26. Sound Point Meridian Capital has a 1 year low of $16.26 and a 1 year high of $22.30.

Sound Point Meridian Capital (NYSE:SPMC) last released its quarterly earnings results on Wednesday, February 12th. The company reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.11.

Wall Street Analyst Weigh In

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.