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Sound Point Meridian Capital (NYSE: SPMC) reported its financial results for the first fiscal quarter ended June 30, 2025. The company achieved a net asset value of $18.50 per share and net investment income of $10.8 million ($0.53 per share).
Key highlights include $22.6 million in cash distributions from their investment portfolio and deployment of $10.9 million in six CLO equity positions with a 13.7% GAAP yield. The company declared monthly distributions of $0.25 per share on common stock for October through December 2025.
Additionally, Sound Point Meridian amended its CIBC Credit Facility, extending the maturity to August 2028 and increasing the maximum facility to $150.0 million, maintaining the rate at SOFR + 3.75%.
Sound Point Meridian Capital (NYSE: SPMC) has declared distributions for its common and preferred stock for the third fiscal quarter 2026. The company announced monthly common stock distributions of $0.25 per share payable in October, November, and December 2025.
Additionally, the company declared distributions on two series of preferred stock: 8.00% Series A Term Preferred Stock with monthly payments of $0.16667 per share, and 7.875% Series B Term Preferred Stock with monthly distributions of $0.1640625 per share. Both preferred stock distributions reflect their respective annual rates based on a $25.00 liquidation preference per share.
Sound Point Meridian Capital (NYSE: SPMC) reported its financial results for Q3 FY2024 ended December 31, 2024. The company achieved a net asset value of $20.52 per share and net investment income of $12.5 million ($0.62 per share). Key highlights include:
Investment income reached $20.0 million ($0.99 per share), with expenses of $7.5 million ($0.37 per share). The company recorded realized gains of $2.0 million and unrealized gains of $17.7 million, resulting in GAAP net income of $32.2 million ($1.59 per share). The CLO equity portfolio maintained a weighted average effective yield of 15.2%.
The company issued 2.3 million shares of 8.0% Series A Preferred stock, raising net proceeds of $55.8 million. Monthly distribution increased by 4.2% to $0.25 per share, payable in April, May, and June 2025.
Sound Point Meridian Capital (NYSE: SPMC) has declared distributions for both common and preferred stock for the first fiscal quarter 2026. The company will pay monthly distributions of $0.25 per common share on April 30, May 30, and June 30, 2025.
Additionally, SPMC announced distributions on its 8.00% Series A Term Preferred Stock due 2029, with monthly payments of $0.16667 per share for the same dates. These preferred stock distributions represent an annual rate of 8.00% based on the $25.00 liquidation preference per share.
The common stock distributions may include net investment income, capital gains, and/or return of capital, with specific tax characteristics to be reported on Form 1099 after the 2025 calendar year end.
Sound Point Meridian Capital (NYSE: SPMC) reported its Q2 FY2024 results with a net asset value of $19.59 per share. The company posted net investment income of $17.5 million ($0.86 per share), comprising $25.1 million in investment income and $7.7 million in expenses. GAAP net income was $7.6 million ($0.38 per share), with a realized and unrealized loss of $9.9 million on investments.
The company secured a $100 million revolving credit facility with CIBC, issued 175,000 additional shares, and maintained an 8.7% leverage. Their CLO equity portfolio yielded 15.7%, with exposure to 1,532 unique corporate obligors. Monthly distribution increased 9.1% to $0.24 per share for Q1 2025.
Sound Point Meridian Capital (NYSE: SPMC) has announced a 9.1% increase in its monthly common stock distribution to $0.24 per share for the first calendar quarter of 2025, up from the previous $0.22. The distributions will be paid on January 31, February 28, and March 31, 2025. Additionally, the company declared distributions of $0.1667 per share on its 8.00% Series A Term Preferred Stock, reflecting an annual rate of 8.00% on the $25 liquidation preference, payable from December 2024 through March 2025.
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