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

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

Sound Point Meridian Capital Stock Performance

Shares of SPMC stock remained flat at $18.30 during mid-day trading on Tuesday. 20,686 shares of the stock traded hands, compared to its average volume of 26,456. Sound Point Meridian Capital has a 1 year low of $16.26 and a 1 year high of $22.30. The company has a 50-day simple moving average of $18.73 and a 200 day simple moving average of $20.05.

Sound Point Meridian Capital (NYSE:SPMC - Get Free Report) last released its quarterly earnings results on Thursday, May 29th. The company reported $0.66 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.60 by $0.06. The business had revenue of $22.66 million for the quarter, compared to analysts' expectations of $20.48 million.

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.