Sound Point Meridian Capital, Inc. (SPMC) To Go Ex-Dividend on February 14th

Sound Point Meridian Capital, Inc. (NYSE:SPMC) announced a monthly dividend on Monday, November 11th,Wall Street Journal reports. Shareholders 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 14.36%. The ex-dividend date of this dividend is Friday, February 14th. This is a positive change from Sound Point Meridian Capital’s previous monthly dividend of $0.22.

Sound Point Meridian Capital Trading Down 2.1 %

SPMC opened at $20.05 on Wednesday. Sound Point Meridian Capital has a 12-month low of $18.20 and a 12-month high of $21.43. The firm has a 50 day simple moving average of $19.57.

Insider Buying and Selling

In related news, Chairman Stephen Ketchum bought 7,326 shares of the business’s stock in a transaction that occurred on Wednesday, August 28th. The stock was acquired at an average price of $19.90 per share, for a total transaction of $145,787.40. Following the transaction, the chairman now directly owns 7,326 shares of the company’s stock, valued at $145,787.40. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website.

Analyst Upgrades and Downgrades

Separately, B. Riley assumed coverage on Sound Point Meridian Capital in a report on Wednesday, October 9th. They set a “buy” rating and a $22.50 price objective on the stock.

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.