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

Sound Point Meridian Capital, Inc. (NYSE:SPMC - Get Free Report) declared a dividend on Friday, July 4th, investing.com reports. Stockholders of record on Wednesday, July 16th will be paid a dividend of 0.25 per share on Thursday, July 31st. This represents a dividend yield of 16.81%. The ex-dividend date is Tuesday, July 15th.

Sound Point Meridian Capital Stock Performance

Shares of SPMC stock remained flat at $17.85 on Monday. The stock had a trading volume of 9,269 shares, compared to its average volume of 23,778. Sound Point Meridian Capital has a twelve month low of $16.26 and a twelve month high of $22.30. The company has a 50-day moving average of $18.27 and a 200 day moving average of $19.58.

Sound Point Meridian Capital (NYSE:SPMC - Get Free Report) last issued its quarterly earnings results on Thursday, May 29th. The company reported $0.66 earnings per share 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.