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

Sound Point Meridian Capital, Inc. (NYSE:SPMC - Get Free Report) declared a monthly dividend on Monday, June 2nd, Wall Street Journal reports. Stockholders of record on Monday, September 15th will be paid a dividend of 0.25 per share on Tuesday, September 30th. This represents a $3.00 annualized dividend and a dividend yield of 16.39%. The ex-dividend date of this dividend is Monday, September 15th.

Sound Point Meridian Capital Price Performance

SPMC stock remained flat at $18.30 during midday trading on Tuesday. The company's stock had a trading volume of 20,686 shares, compared to its average volume of 26,456. Sound Point Meridian Capital has a one year low of $16.26 and a one year high of $22.30. The firm's fifty day simple moving average is $18.73 and its 200 day simple moving average is $20.05.

Sound Point Meridian Capital (NYSE:SPMC - Get Free Report) last issued its earnings results on Thursday, May 29th. The company reported $0.66 EPS for the quarter, topping the consensus estimate of $0.60 by $0.06. The firm had revenue of $22.66 million during the quarter, compared to the consensus estimate of $20.48 million.

Sound Point Meridian Capital Company Profile

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.