Sound Point Meridian Capital, Inc. (SPMC) to Issue Monthly Dividend of $0.13 on December 31st

Sound Point Meridian Capital, Inc. (NYSE:SPMC) declared a monthly dividend on Wednesday, August 12th. Investors of record on Tuesday, December 15th will be given a dividend of 0.13 per share on Thursday, December 31st. This represents a c) annualized dividend and a yield of 15.3%. The ex-dividend date of this dividend is Tuesday, December 15th.

Sound Point Meridian Capital Trading Up 3.7%

Shares of NYSE:SPMC opened at $10.19 on Friday. The firm has a market cap of $208.87 million, a price-to-earnings ratio of -1.76 and a beta of 1.15. The stock’s 50-day moving average price is $10.36 and its two-hundred day moving average price is $10.54. Sound Point Meridian Capital has a 12-month low of $8.36 and a 12-month high of $18.54.

Sound Point Meridian Capital (NYSE:SPMC) last posted 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). The firm had revenue of $12.42 million for the quarter, compared to the consensus estimate of $14.18 million. As a group, research analysts forecast that Sound Point Meridian Capital will post 1.22 earnings per share for the current fiscal year.

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.