Sound Point Meridian Capital, Inc. (NYSE:SPMC) Shares Set to Pay Monthly Dividend of $0.13

Sound Point Meridian Capital, Inc. (NYSE:SPMC) declared a monthly dividend on Thursday, November 12th. Shareholders of record on Tuesday, February 16th will be given a dividend of $0.13 per share on Friday, February 26th. This represents a $1.56 dividend on an annualized basis and a yield of 24.9%. The ex-dividend date of this dividend is Tuesday, February 16th.

Sound Point Meridian Capital Stock Up 6.2%

Shares of SPMC stock opened at $6.26 on Friday. The company has a market cap of $128.43 million, a P/E ratio of -1.08 and a beta of 1.39. The business has a 50 day moving average of $7.58 and a two-hundred day moving average of $9.70. Sound Point Meridian Capital has a 52 week low of $5.43 and a 52 week high of $16.67.

Sound Point Meridian Capital (NYSE:SPMC) last released its quarterly earnings data on Thursday, November 12th. The company reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.01). The company had revenue of $12.82 million during the quarter, compared to analyst estimates of $13.17 million. Analysts expect that Sound Point Meridian Capital will post 1.11 EPS for the current fiscal year.

About Sound Point Meridian Capital

Sound Point Meridian Capital, Inc. is a publicly traded investment company focused on collateralized loan obligations (CLOs). It invests primarily in CLO equity and debt securities, which provide exposure to portfolios of corporate loans. Through these investments, the company participates in the financing of businesses whose loans are held in CLO portfolios. Its investment approach centers on selecting CLO securities rather than directly originating loans to companies. Sound Point Meridian Capital is externally managed by an affiliate of Sound Point Capital Management, a credit-focused investment manager.