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

Sound Point Meridian Capital, Inc. (NYSE:SPMC) declared a monthly dividend on Friday, February 7th,Wall Street Journal reports. Shareholders of record on Friday, June 13th will be given a dividend of 0.25 per share on Monday, June 30th. This represents a $3.00 annualized dividend and a dividend yield of 14.35%. The ex-dividend date is Friday, June 13th.

Sound Point Meridian Capital Trading Down 0.1 %

Shares of NYSE SPMC opened at $20.91 on Friday. The business’s fifty day simple moving average is $20.63 and its 200-day simple moving average is $20.03. Sound Point Meridian Capital has a 12-month low of $18.20 and a 12-month high of $21.97.

Insiders Place Their Bets

In related news, Chairman Stephen Ketchum purchased 4,000 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The shares were purchased at an average cost of $20.32 per share, for a total transaction of $81,280.00. Following the purchase, the chairman now directly owns 23,326 shares of the company’s stock, valued at $473,984.32. The trade was a 20.70 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders acquired 6,000 shares of company stock valued at $121,850 in the last ninety days.

Analysts Set New Price Targets

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

About Sound Point Meridian Capital

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.