Sound Point Meridian Capital, Inc. Plans Monthly Dividend of $0.22 (NYSE:SPMC)

Sound Point Meridian Capital, Inc. (NYSE:SPMC) declared a monthly dividend on Friday, August 16th,Wall Street Journal reports. Investors of record on Friday, November 15th will be paid a dividend of 0.22 per share on Friday, November 29th. This represents a $2.64 dividend on an annualized basis and a yield of 13.17%. The ex-dividend date of this dividend is Friday, November 15th.

Sound Point Meridian Capital Stock Down 0.0 %

Shares of SPMC stock opened at $20.04 on Thursday. The stock has a fifty day moving average price of $19.58. Sound Point Meridian Capital has a 1 year low of $18.20 and a 1 year high of $21.43.

Insider Buying and Selling at Sound Point Meridian Capital

In other Sound Point Meridian Capital news, Chairman Stephen Ketchum purchased 7,326 shares of the business’s stock in a transaction that occurred on Wednesday, August 28th. The stock was purchased at an average price of $19.90 per share, for a total transaction of $145,787.40. Following the purchase, the chairman now directly owns 7,326 shares in the company, valued at approximately $145,787.40. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Analyst Ratings Changes

Separately, B. Riley began coverage on Sound Point Meridian Capital in a research note on Wednesday, October 9th. They set a “buy” rating and a $22.50 price objective for the company.

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.