Sound Point Meridian Capital, Inc. (NYSE:SPMC) Increases Dividend to $0.25 Per Share

Posted by Latisha Jones on Feb 7th, 2025

Sound Point Meridian Capital, Inc. (NYSE:SPMC – Get Free Report) 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 dividend on an annualized basis and a yield of 14.34%. The ex-dividend date of this dividend 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

SPMC stock opened at $20.93 on Friday. The firm has a 50-day simple moving average of $20.62 and a two-hundred day simple moving average of $20.03. Sound Point Meridian Capital has a one year low of $18.20 and a one year high of $21.97.

Insider Buying and Selling at Sound Point Meridian Capital

In related news, Chairman Stephen Ketchum purchased 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 purchase, the chairman now owns 23,326 shares of the company’s stock, valued at $473,984.32. This trade represents a 20.70 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last ninety days, insiders acquired 6,000 shares of company stock worth $121,850.

Analyst Upgrades and Downgrades

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

View Our Latest Research Report on Sound Point Meridian Capital

Sound Point Meridian Capital Company Profile

(Get Free Report)

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.