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

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

Sound Point Meridian Capital Price Performance

Shares of NYSE:SPMC traded down $0.93 during midday trading on Wednesday, reaching $9.84. The company’s stock had a trading volume of 130,934 shares, compared to its average volume of 33,388. The business’s fifty day simple moving average is $10.42 and its 200-day simple moving average is $10.60. Sound Point Meridian Capital has a fifty-two week low of $8.36 and a fifty-two week high of $18.54. The company has a market capitalization of $201.69 million, a P/E ratio of -1.60 and a beta of 1.15.

Sound Point Meridian Capital (NYSE:SPMC) last issued its quarterly earnings results on Wednesday, August 12th. The company reported $0.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.06). On average, analysts forecast that Sound Point Meridian Capital will post 1.22 earnings per share for the current fiscal year.

Sound Point Meridian Capital News Roundup

Here are the key news stories impacting Sound Point Meridian Capital this week:

• Positive Sentiment: SPMC announced a continuing $0.13-per-share monthly distribution for October, November and December, equivalent to approximately $1.56 annually and a 15.9% yield based on the cited share price. The sizable income return may appeal to yield-focused investors. Sound Point Meridian signals $0.13 monthly distribution and 6-month fee waiver
• Positive Sentiment: The company also signaled a six-month management-fee waiver through December 2026, which could reduce expenses and help support distributable earnings and dividend coverage. Sound Point Meridian signals fee waiver
• Neutral Sentiment: The October, November and December distributions have ex-dividend dates of October 15, November 13 and December 15, respectively, with payments scheduled for October 30, November 30 and December 31. Investors buying after each ex-dividend date will not receive that month’s payment.
• Negative Sentiment: SPMC reported quarterly EPS of $0.24, below the $0.30 consensus estimate and down from $0.53 a year earlier. The earnings shortfall, together with a reported revenue miss, likely pressured the stock and raised questions about near-term earnings and dividend coverage. Sound Point Meridian Capital lags Q1 earnings and revenue estimates

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.