earnings
confidence high
sentiment positive
materiality 0.75
Sound Point Meridian reports Q3 net income $32.2M, raises monthly distribution 4.2% to $0.25
Sound Point Meridian Capital, Inc.
- NAV $20.52; GAAP net income $32.2M ($1.59 per share).
- NII $12.5M ($0.62/share); 97% recurring CLO equity/warehouse income; weighted avg yield 15.2%.
- Issued 2.3M shares of 8.0% Series A Preferred, net proceeds $55.8M.
- Monthly common distribution raised 4.2% to $0.25, payable Apr/May/Jun 2025.
- Deployed $26.7M in two new CLO equity positions with GAAP yield 17.2% through Jan 31, 2025.