Sound Point Meridian Capital, Inc. (SPMC) To Go Ex-Dividend on March 14th

Sound Point Meridian Capital, Inc. (NYSE:SPMC) announced a monthly dividend on Tuesday, November 12th,Wall Street Journal reports. Investors 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 dividend on an annualized basis and a yield of 14.37%. The ex-dividend date of this dividend is Friday, March 14th.

Sound Point Meridian Capital Stock Down 0.0 %

Shares of Sound Point Meridian Capital stock opened at $20.04 on Thursday. Sound Point Meridian Capital has a twelve month low of $18.20 and a twelve month high of $21.43. The company has a 50-day simple moving average of $19.58.

Insider Transactions at Sound Point Meridian Capital

In other news, Chairman Stephen Ketchum acquired 7,326 shares of the business’s stock in a transaction that occurred on Wednesday, August 28th. The shares were purchased at an average price of $19.90 per share, for a total transaction of $145,787.40. Following the acquisition, the chairman now owns 7,326 shares of the company’s stock, valued at $145,787.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Analyst Ratings Changes

Separately, B. Riley started coverage on Sound Point Meridian Capital in a research report on Wednesday, October 9th. They issued a “buy” rating and a $22.50 target price on the stock.

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.