Sound Point Meridian Capital, Inc. (SPMC) To Go Ex-Dividend on December 16th

Sound Point Meridian Capital, Inc. (NYSE:SPMC) announced a monthly dividend on Monday, August 19th,Wall Street Journal reports. Stockholders of record on Monday, December 16th will be given a dividend of 0.22 per share on Tuesday, December 31st. This represents a $2.64 annualized dividend and a dividend yield of 12.33%. The ex-dividend date is Monday, December 16th.

Sound Point Meridian Capital Trading Up 1.0 %

NYSE SPMC opened at $21.41 on Friday. Sound Point Meridian Capital has a 1-year low of $18.20 and a 1-year high of $21.97. The company has a 50-day moving average price of $19.87.

Insiders Place Their Bets

In other Sound Point Meridian Capital news, Chairman Stephen Ketchum bought 4,000 shares of the business’s stock in a transaction on Thursday, November 21st. The shares were bought at an average cost of $20.32 per share, with a total value of $81,280.00. Following the transaction, 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 transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders have bought 6,000 shares of company stock worth $121,850 in the last quarter.

Analysts Set New Price Targets

Separately, B. Riley assumed 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 for the company.

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.