Sound Point Meridian Capital, Inc. (SPMC) To Go Ex-Dividend on January 15th

Sound Point Meridian Capital, Inc. (NYSE:SPMC) declared a monthly dividend on Thursday, November 7th,NASDAQ Dividends reports. Stockholders of record on Wednesday, January 15th will be paid a dividend of 0.24 per share on Friday, January 31st. This represents a $2.88 annualized dividend and a dividend yield of 13.89%. The ex-dividend date of this dividend is Wednesday, January 15th.

Sound Point Meridian Capital Stock Performance

SPMC stock remained flat at $20.73 during trading on Monday. The company had a trading volume of 3,911 shares, compared to its average volume of 14,077. The firm has a 50-day simple moving average of $20.49. Sound Point Meridian Capital has a 12-month low of $18.20 and a 12-month high of $21.97.

Insiders Place Their Bets

In other news, Chairman Stephen Ketchum purchased 4,000 shares of the business’s stock in a transaction on Thursday, November 21st. The shares were bought at an average price of $20.32 per share, with a total value of $81,280.00. Following the completion of the transaction, the chairman now directly owns 23,326 shares in the company, valued at approximately $473,984.32. This represents a 20.70 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have bought a total of 6,000 shares of company stock valued at $121,850 over the last quarter.

Wall Street Analysts Forecast Growth

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

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.