Sound Point Meridian Capital, Inc. (SPMC) to Distribute Monthly Dividend of $0.20 on July 31st

Sound Point Meridian Capital, Inc. (NYSE:SPMC) declared a monthly dividend on Wednesday, May 20th. Stockholders of record on Wednesday, July 15th will be paid a dividend of 0.20 per share on Friday, July 31st. This represents a c) dividend on an annualized basis and a dividend yield of 23.4%. The ex-dividend date of this dividend is Wednesday, July 15th.

Sound Point Meridian Capital Stock Performance

SPMC opened at $10.27 on Monday. The company’s 50-day simple moving average is $10.70 and its two-hundred day simple moving average is $11.17. The stock has a market capitalization of $210.59 million, a P/E ratio of -1.67 and a beta of 1.20. Sound Point Meridian Capital has a 52-week low of $8.36 and a 52-week high of $18.60.

Sound Point Meridian Capital (NYSE:SPMC) last released its quarterly earnings data on Thursday, May 28th. The company reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.07). The firm had revenue of $12.57 million for the quarter, compared to analysts’ expectations of $17.20 million. Research analysts forecast that Sound Point Meridian Capital will post 1.22 EPS 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.