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

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

Sound Point Meridian Capital Stock Performance

NYSE SPMC opened at $20.65 on Monday. Sound Point Meridian Capital has a 1 year low of $18.20 and a 1 year high of $21.97. The business has a 50 day moving average price of $20.49.

Analyst Ratings Changes

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

Insider Buying and Selling at Sound Point Meridian Capital

In other Sound Point Meridian Capital news, Chairman Stephen Ketchum purchased 4,000 shares of Sound Point Meridian Capital stock in a transaction that occurred on Thursday, November 21st. The shares were bought at an average price of $20.32 per share, for a total transaction of $81,280.00. Following the acquisition, the chairman now directly owns 23,326 shares in the company, valued at approximately $473,984.32. This trade represents a 20.70 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders acquired a total of 6,000 shares of company stock worth $121,850 over the last three months.

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.