Sound Point Meridian Capital, Inc. (NYSE:SPMC) to Issue Monthly Dividend of $0.13

Sound Point Meridian Capital, Inc. (NYSE:SPMC) announced a monthly dividend on Wednesday, August 12th. Shareholders of record on Thursday, October 15th will be paid a dividend of 0.13 per share on Friday, October 30th. This represents a c) annualized dividend and a yield of 15.9%. The ex-dividend date of this dividend is Thursday, October 15th.

Sound Point Meridian Capital Stock Down 8.6%

Sound Point Meridian Capital stock traded down $0.93 on Wednesday, hitting $9.84. The company’s stock had a trading volume of 130,934 shares, compared to its average volume of 33,388. Sound Point Meridian Capital has a one year low of $8.36 and a one year high of $18.54. The firm has a market cap of $201.69 million, a P/E ratio of -1.60 and a beta of 1.15. The company has a fifty day moving average price of $10.42 and a 200-day moving average price of $10.60.

Sound Point Meridian Capital (NYSE:SPMC) last released its quarterly earnings data on Wednesday, August 12th. The company reported $0.24 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.06). Analysts anticipate that Sound Point Meridian Capital will post 1.22 EPS for the current year.

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