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

Sound Point Meridian Capital, Inc. (NYSE:SPMC) announced a monthly dividend on Monday, November 11th,Wall Street Journal reports. Stockholders of record on Friday, February 14th will be given a dividend of 0.24 per share on Friday, February 28th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 14.36%. The ex-dividend date of this dividend is Friday, February 14th. This is a positive change from Sound Point Meridian Capital’s previous monthly dividend of $0.22.

Sound Point Meridian Capital Stock Down 2.1 %

SPMC stock opened at $20.05 on Wednesday. Sound Point Meridian Capital has a twelve month low of $18.20 and a twelve month high of $21.43. The business’s fifty day moving average price is $19.57.

Wall Street Analysts Forecast Growth

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.

Insider Buying and Selling at Sound Point Meridian Capital

In other Sound Point Meridian Capital news, Chairman Stephen Ketchum bought 7,326 shares of the firm’s stock in a transaction on Wednesday, August 28th. The stock was purchased at an average cost of $19.90 per share, with a total value of $145,787.40. Following the completion of the purchase, the chairman now owns 7,326 shares in the company, valued at approximately $145,787.40. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

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.