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

Sound Point Meridian Capital, Inc. (NYSE:SPMC) announced a dividend on Wednesday, January 15th,investing.com reports. Shareholders of record on Thursday, January 16th will be given a dividend of 0.24 per share on Friday, January 31st. This represents a yield of 14.12%. The ex-dividend date of this dividend is Wednesday, January 15th.

Sound Point Meridian Capital Price Performance

SPMC opened at $20.39 on Thursday. Sound Point Meridian Capital has a 12 month low of $18.20 and a 12 month high of $21.97. The stock has a fifty day moving average of $20.58.

Wall Street Analysts Forecast Growth

Separately, B. Riley upgraded shares of Sound Point Meridian Capital to a “strong-buy” rating in a report 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 dated Thursday, November 21st. The shares were acquired at an average cost of $20.32 per share, with a total value of $81,280.00. Following the completion of the transaction, the chairman now owns 23,326 shares in the company, valued at approximately $473,984.32. This trade represents a 20.70 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders bought a total of 6,000 shares of company stock worth $121,850 over the last three months.

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.