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

Sound Point Meridian Capital, Inc. (NYSE:SPMC) declared 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 annualized dividend and a yield of 13.95%. The ex-dividend date is Wednesday, January 15th.

Sound Point Meridian Capital Stock Down 1.3 %

Shares of SPMC opened at $20.65 on Monday. The company has a fifty day simple moving average of $20.49. Sound Point Meridian Capital has a 52-week low of $18.20 and a 52-week high of $21.97.

Analyst Ratings Changes

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

Insider Activity

In other news, Chairman Stephen Ketchum purchased 4,000 shares of the business’s stock in a transaction dated Thursday, November 21st. The shares were bought at an average cost of $20.32 per share, for a total transaction of $81,280.00. Following the completion of 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 position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have bought 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.