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

Sound Point Meridian Capital, Inc. (NYSE:SPMC) declared a dividend on Wednesday, January 15th,investing.com reports. Shareholders of record on Thursday, January 16th will be given a dividend of 0.24 per share on Friday, January 31st. This represents a yield of 14.12%. The ex-dividend date of this dividend is Wednesday, January 15th.

Sound Point Meridian Capital Trading Down 0.1 %

Shares of SPMC stock opened at $20.37 on Friday. Sound Point Meridian Capital has a one year low of $18.20 and a one year high of $21.97. The stock’s 50-day moving average is $20.59.

Wall Street Analyst Weigh In

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

Insider Activity

In related news, Chairman Stephen Ketchum acquired 4,000 shares of Sound Point Meridian Capital stock in a transaction that occurred on Thursday, November 21st. The stock was acquired at an average price of $20.32 per share, for a total transaction of $81,280.00. Following the transaction, the chairman now directly 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 filing with the Securities & Exchange Commission, which is accessible through this link. In the last three months, insiders acquired 6,000 shares of company stock valued at $121,850.

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.