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

Sound Point Meridian Capital, Inc. (NYSE:SPMC) announced a monthly dividend on Thursday, November 12th. Investors of record on Monday, March 15th will be paid a dividend of $0.13 per share on Wednesday, March 31st. This represents a $1.56 annualized dividend and a yield of 24.9%. The ex-dividend date of this dividend is Monday, March 15th.

Sound Point Meridian Capital Trading Up 6.2%

NYSE:SPMC opened at $6.26 on Friday. Sound Point Meridian Capital has a 1 year low of $5.43 and a 1 year high of $16.67. The stock has a market cap of $128.43 million, a price-to-earnings ratio of -1.08 and a beta of 1.39. The stock has a 50-day moving average price of $7.58 and a two-hundred day moving average price of $9.70.

Sound Point Meridian Capital (NYSE:SPMC) last issued its quarterly earnings data on Thursday, November 12th. The company reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.01). The company had revenue of $12.82 million during the quarter, compared to analyst estimates of $13.17 million. Sell-side analysts forecast that Sound Point Meridian Capital will post 1.11 earnings per share for the current year.

Sound Point Meridian Capital Company Profile

Sound Point Meridian Capital, Inc. is a publicly traded investment company focused on collateralized loan obligations (CLOs). It invests primarily in CLO equity and debt securities, which provide exposure to portfolios of corporate loans. Through these investments, the company participates in the financing of businesses whose loans are held in CLO portfolios. Its investment approach centers on selecting CLO securities rather than directly originating loans to companies. Sound Point Meridian Capital is externally managed by an affiliate of Sound Point Capital Management, a credit-focused investment manager.