Sound Point Meridian Capital, Inc. Announces Monthly Dividend of $0.20 (NYSE:SPMC)

by · The Cerbat Gem

Sound Point Meridian Capital, Inc. (NYSE:SPMC – Get Free Report) declared a monthly dividend on Wednesday, February 11th. Investors of record on Friday, May 15th will be paid a dividend of 0.20 per share on Friday, May 29th. This represents a c) dividend on an annualized basis and a yield of 20.8%. The ex-dividend date is Friday, May 15th.

Sound Point Meridian Capital Trading Down 10.3%

NYSE:SPMC traded down $1.32 during mid-day trading on Wednesday, reaching $11.54. The company’s stock had a trading volume of 169,698 shares, compared to its average volume of 28,032. Sound Point Meridian Capital has a 12-month low of $11.45 and a 12-month high of $22.30. The firm’s fifty day moving average price is $13.83 and its two-hundred day moving average price is $15.94. The stock has a market cap of $236.57 million, a P/E ratio of 57.70 and a beta of 0.32.

Sound Point Meridian Capital (NYSE:SPMC – Get Free Report) last announced its quarterly earnings results on Wednesday, February 11th. The company reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.09).

About Sound Point Meridian Capital

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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. Sound Point Meridian Capital Inc is based in NEW YORK.

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