Sound Point Meridian Capital, Inc. (NYSE:SPMC) Increases Dividend to $0.24 Per Share

Posted by Joseph McCarthy on Feb 12th, 2025

Sound Point Meridian Capital, Inc. (NYSE:SPMC – Get Free Report) 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 13.80%. The ex-dividend date of this dividend is Friday, February 14th. This is a boost from Sound Point Meridian Capital’s previous monthly dividend of $0.22.

Sound Point Meridian Capital Stock Up 0.3 %

SPMC stock opened at $20.88 on Wednesday. Sound Point Meridian Capital has a one year low of $18.20 and a one year high of $21.97. The firm has a 50-day moving average of $20.64 and a two-hundred day moving average of $20.06.

Wall Street Analysts Forecast Growth

Separately, B. Riley raised shares of Sound Point Meridian Capital to a “strong-buy” rating in a research note on Tuesday, January 7th.

Check Out Our Latest Stock Analysis on Sound Point Meridian Capital

Insider Buying and Selling

In other news, Chairman Stephen Ketchum acquired 4,000 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The shares were purchased at an average price of $20.32 per share, for a total transaction of $81,280.00. Following the completion of the acquisition, the chairman now owns 23,326 shares of the company’s stock, valued at approximately $473,984.32. This represents a 20.70 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last quarter, insiders have bought 6,000 shares of company stock worth $121,850.

Sound Point Meridian Capital Company Profile

(Get Free Report)

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.