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

Sound Point Meridian Capital, Inc. (NYSE:SPMC) declared a monthly dividend on Thursday, November 7th,NASDAQ Dividends reports. Shareholders of record on Wednesday, January 15th will be given a dividend of 0.24 per share on Friday, January 31st. This represents a $2.88 dividend on an annualized basis and a dividend yield of 13.82%. The ex-dividend date is Wednesday, January 15th.

Sound Point Meridian Capital Trading Up 0.5 %

Shares of SPMC stock traded up $0.11 during mid-day trading on Monday, reaching $20.84. The stock had a trading volume of 2,876 shares, compared to its average volume of 14,071. The company has a 50-day moving average price of $20.49. Sound Point Meridian Capital has a 52-week low of $18.20 and a 52-week high of $21.97.

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.

Insider Activity at Sound Point Meridian Capital

In other Sound Point Meridian Capital news, Chairman Stephen Ketchum acquired 4,000 shares of the business’s stock in a transaction on Thursday, November 21st. The shares were acquired at an average price of $20.32 per share, for a total transaction of $81,280.00. Following the completion of the acquisition, the chairman now owns 23,326 shares in the company, valued at $473,984.32. This trade represents a 20.70 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have purchased 6,000 shares of company stock worth $121,850 over the last 90 days.

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.