Sound Point Meridian Capital, Inc. Plans Monthly Dividend of $0.13 (NYSE:SPMC)

Sound Point Meridian Capital, Inc. (NYSE:SPMC) announced a monthly dividend on Wednesday, August 12th. Stockholders of record on Tuesday, December 15th will be paid a dividend of 0.13 per share on Thursday, December 31st. This represents a c) dividend on an annualized basis and a dividend yield of 15.9%. The ex-dividend date of this dividend is Tuesday, December 15th.

Sound Point Meridian Capital Stock Performance

Shares of SPMC traded down $0.93 during mid-day trading on Wednesday, reaching $9.84. The company had a trading volume of 130,934 shares, compared to its average volume of 33,388. The company has a market capitalization of $201.69 million, a price-to-earnings ratio of -1.60 and a beta of 1.15. The firm has a 50-day moving average price of $10.42 and a 200 day moving average price of $10.60. Sound Point Meridian Capital has a 52 week low of $8.36 and a 52 week high of $18.54.

Sound Point Meridian Capital (NYSE:SPMC) last posted its quarterly earnings data on Wednesday, August 12th. The company reported $0.24 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.06). As a group, research analysts forecast that Sound Point Meridian Capital will post 1.22 earnings per share for the current fiscal year.

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