Sound Point Meridian Capital, Inc. Announces Monthly Dividend of $0.22 (NYSE:SPMC)

Sound Point Meridian Capital, Inc. (NYSE:SPMC) declared a monthly dividend on Friday, August 16th, Wall Street Journal reports. Stockholders of record on Friday, November 15th will be paid a dividend of 0.22 per share on Friday, November 29th. This represents a $2.64 dividend on an annualized basis and a dividend yield of 13.20%. The ex-dividend date is Friday, November 15th.

Sound Point Meridian Capital Price Performance

NYSE:SPMC traded up $0.17 during mid-day trading on Friday, reaching $20.00. The company’s stock had a trading volume of 4,875 shares, compared to its average volume of 15,488. Sound Point Meridian Capital has a 12-month low of $18.20 and a 12-month high of $20.42.

Wall Street Analysts Forecast Growth

Separately, Oppenheimer started coverage on shares of Sound Point Meridian Capital in a report on Tuesday, July 9th. They set an “outperform” rating and a $21.00 price objective for the company.

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.