Sound Point Meridian Capital, Inc. (NYSE:SPMC) to Issue Monthly Dividend of $0.20

Sound Point Meridian Capital, Inc. (NYSE:SPMC) announced a monthly dividend on Wednesday, February 11th. Investors of record on Friday, May 15th will be given a dividend of 0.20 per share on Friday, May 29th. This represents a c) dividend on an annualized basis and a yield of 20.8%. The ex-dividend date is Friday, May 15th.

Sound Point Meridian Capital Stock Performance

Shares of SPMC stock traded down $1.32 on Wednesday, reaching $11.54. 169,698 shares of the company were exchanged, compared to its average volume of 28,032. The company has a market cap of $236.57 million, a price-to-earnings ratio of 57.70 and a beta of 0.32. The business has a 50-day moving average price of $13.83 and a 200 day moving average price of $15.94. Sound Point Meridian Capital has a 1 year low of $11.45 and a 1 year high of $22.30.

Sound Point Meridian Capital (NYSE:SPMC) last announced its quarterly earnings data on Wednesday, February 11th. The company reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.09).

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. Sound Point Meridian Capital Inc is based in NEW YORK.