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

Sound Point Meridian Capital, Inc. (NYSE:SPMC) declared a monthly dividend on Thursday, February 6th,Wall Street Journal reports. Shareholders of record on Friday, June 13th will be paid a dividend of 0.25 per share on Monday, June 30th. This represents a $3.00 dividend on an annualized basis and a yield of 14.35%. The ex-dividend date of this dividend is Friday, June 13th. This is a boost from Sound Point Meridian Capital’s previous monthly dividend of $0.24.

Sound Point Meridian Capital Trading Down 0.1 %

Shares of Sound Point Meridian Capital stock opened at $20.91 on Friday. The firm has a fifty day moving average of $20.63 and a two-hundred day moving average of $20.03. Sound Point Meridian Capital has a 52 week low of $18.20 and a 52 week high of $21.97.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In other Sound Point Meridian Capital news, Chairman Stephen Ketchum acquired 4,000 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The shares were acquired at an average price of $20.32 per share, with a total value of $81,280.00. Following the purchase, the chairman now owns 23,326 shares of the company’s stock, valued at $473,984.32. This represents a 20.70 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders have bought 6,000 shares of company stock valued at $121,850 in the last 90 days.

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.