Dividends & Buybacks ·
Sound Point Meridian Capital, Inc. announced declarations for its third fiscal quarter 2027 distributions and reported…
SPMESound Point Meridian Capital, Inc.
Sound Point Meridian Capital, Inc. announced declarations for its third fiscal quarter 2027 distributions and reported first fiscal quarter ended June 30, 2026 results. The company declared a monthly common stock distribution of $0.13 per share payable October 30, November 30, and December 31, 2026. It also declared monthly preferred distributions of $0.16667 per share for Series A Preferred Stock due 2029 and $0.1640625 per share for Series B Preferred Stock due 2030, with identical payment schedules. For the quarter ended June 30, 2026, net investment income was $5.1 million ($0.24 per share), while GAAP net income totaled $17.5 million ($0.83 per share). Net asset value per common share stood at $9.88 as of June 30, 2026. Additionally, the company entered into a management fee waiver agreement effective July 1 through December 31, 2026, reducing the base management fee from 1.75% to 1.50%. Sound Point Meridian Capital is an externally managed closed-end investment company that invests primarily in collateralized loan obligation equity and mezzanine tranches.