Sound Point Meridian Capital, Inc. (SPMC) To Go Ex-Dividend on June 13th

Sound Point Meridian Capital, Inc. (NYSE:SPMC) announced a monthly dividend on Thursday, February 6th,Wall Street Journal reports. Investors of record on Friday, June 13th will be paid a dividend of 0.25 per share on Monday, June 30th. This represents a $3.00 annualized dividend and a yield of 14.35%. The ex-dividend date is Friday, June 13th. This is a boost from Sound Point Meridian Capital’s previous monthly dividend of $0.24.

Sound Point Meridian Capital Price Performance

Shares of NYSE SPMC opened at $20.91 on Friday. Sound Point Meridian Capital has a 52-week low of $18.20 and a 52-week high of $21.97. The business has a fifty day moving average of $20.63 and a two-hundred day moving average of $20.03.

Insider Buying and Selling at Sound Point Meridian Capital

In related news, Chairman Stephen Ketchum acquired 4,000 shares of the stock in a transaction on Thursday, November 21st. The stock was purchased at an average price of $20.32 per share, for a total transaction of $81,280.00. Following the transaction, the chairman now owns 23,326 shares of the company’s stock, valued at $473,984.32. The trade was a 20.70 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In the last quarter, insiders acquired 6,000 shares of company stock worth $121,850.

Analyst Ratings Changes

Separately, B. Riley upgraded shares of Sound Point Meridian Capital to a “strong-buy” rating in a research report 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.