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

Sound Point Meridian Capital, Inc. (NYSE:SPMC) announced a monthly dividend on Tuesday, November 12th,Wall Street Journal reports. Investors of record on Friday, February 14th will be given a dividend of 0.24 per share on Friday, February 28th. This represents a $2.88 dividend on an annualized basis and a yield of 14.06%. The ex-dividend date of this dividend is Friday, February 14th.

Sound Point Meridian Capital Stock Down 2.4 %

Sound Point Meridian Capital stock opened at $20.49 on Tuesday. Sound Point Meridian Capital has a 1 year low of $18.20 and a 1 year high of $21.43. The firm has a 50 day moving average of $19.57.

Analysts Set New Price Targets

Separately, B. Riley started coverage on shares of Sound Point Meridian Capital in a research report on Wednesday, October 9th. They issued a “buy” rating and a $22.50 price objective for the company.

Insider Transactions at Sound Point Meridian Capital

In other Sound Point Meridian Capital news, Chairman Stephen Ketchum acquired 7,326 shares of the company’s stock in a transaction dated Wednesday, August 28th. The stock was bought at an average price of $19.90 per share, with a total value of $145,787.40. Following the completion of the transaction, the chairman now directly owns 7,326 shares of the company’s stock, valued at approximately $145,787.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

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.