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

Sound Point Meridian Capital, Inc. (NYSE:SPMC) announced a monthly dividend on Tuesday, August 5th. Shareholders of record on Friday, November 14th will be given a dividend of 0.25 per share on Friday, November 28th. This represents a c) dividend on an annualized basis and a yield of 18.0%. The ex-dividend date of this dividend is Friday, November 14th.

Sound Point Meridian Capital Trading Up 0.4%

Shares of NYSE:SPMC traded up $0.07 on Wednesday, reaching $16.63. 8,199 shares of the company’s stock were exchanged, compared to its average volume of 27,057. Sound Point Meridian Capital has a twelve month low of $15.01 and a twelve month high of $22.30. The company has a fifty day moving average of $17.16 and a 200-day moving average of $17.80. The company has a market capitalization of $340.31 million, a price-to-earnings ratio of 11.71 and a beta of 0.20.

Sound Point Meridian Capital (NYSE:SPMC) last released its quarterly earnings results on Tuesday, August 12th. The company reported $0.53 earnings per share for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.03). The firm had revenue of $19.21 million for the quarter, compared to the consensus estimate of $20.72 million.

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.