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

Sound Point Meridian Capital, Inc. (NYSE:SPMC) declared a monthly dividend on Wednesday, February 5th, NASDAQ Dividends reports. Investors of record on Tuesday, April 15th will be paid a dividend of 0.25 per share on Wednesday, April 30th. This represents a $3.00 dividend on an annualized basis and a yield of 16.30%. The ex-dividend date is Tuesday, April 15th.

Sound Point Meridian Capital Stock Performance

Shares of SPMC stock opened at $18.40 on Friday. Sound Point Meridian Capital has a 12-month low of $16.26 and a 12-month high of $22.30. The firm has a 50 day moving average price of $20.44 and a two-hundred day moving average price of $20.26.

Sound Point Meridian Capital (NYSE:SPMC) last released its quarterly earnings results on Wednesday, February 12th. The company reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.11.

Wall Street Analyst Weigh In

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

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.