Main Street Capital Corporation (MAIN) to Issue Quarterly Dividend of $0.30 on October 15th

Main Street Capital Corporation (NYSE:MAIN) announced a quarterly dividend on Monday, August 4th, investing.com reports. Investors of record on Wednesday, October 8th will be given a dividend of 0.30 per share by the financial services provider on Wednesday, October 15th. This represents a c) annualized dividend and a yield of 1.9%. The ex-dividend date is Wednesday, October 8th.

Main Street Capital has a dividend payout ratio of 78.9% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Analysts expect Main Street Capital to earn $4.06 per share next year, which means the company should continue to be able to cover its $3.00 annual dividend with an expected future payout ratio of 73.9%.

Main Street Capital Price Performance

Shares of NYSE MAIN opened at $62.98 on Monday. The stock has a market capitalization of $5.63 billion, a PE ratio of 10.38 and a beta of 0.87. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.09 and a quick ratio of 0.09. The business has a fifty day moving average price of $65.14 and a two-hundred day moving average price of $59.81. Main Street Capital has a fifty-two week low of $47.00 and a fifty-two week high of $67.77.

Main Street Capital (NYSE:MAIN) last announced its quarterly earnings data on Thursday, August 7th. The financial services provider reported $0.99 earnings per share for the quarter, meeting the consensus estimate of $0.99. The firm had revenue of $143.97 million during the quarter, compared to analysts’ expectations of $137.23 million. Main Street Capital had a return on equity of 12.70% and a net margin of 96.16%. As a group, equities analysts predict that Main Street Capital will post 4.11 earnings per share for the current fiscal year.

Insider Activity at Main Street Capital

In other news, Director Nicholas Meserve sold 14,000 shares of the business’s stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $67.15, for a total value of $940,100.00. Following the sale, the director directly owned 82,383 shares of the company’s stock, valued at $5,532,018.45. The trade was a 14.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 4.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Main Street Capital

Several hedge funds and other institutional investors have recently modified their holdings of MAIN. Legal & General Group Plc increased its stake in Main Street Capital by 3.7% in the 2nd quarter. Legal & General Group Plc now owns 675,495 shares of the financial services provider’s stock worth $39,918,000 after buying an additional 24,248 shares in the last quarter. Jones Financial Companies Lllp increased its position in shares of Main Street Capital by 45,123.0% during the first quarter. Jones Financial Companies Lllp now owns 590,613 shares of the financial services provider’s stock worth $33,405,000 after acquiring an additional 589,307 shares during the period. Invesco Ltd. increased its holdings in Main Street Capital by 282.5% during the first quarter. Invesco Ltd. now owns 532,267 shares of the financial services provider’s stock valued at $30,105,000 after buying an additional 393,101 shares during the period. Adell Harriman & Carpenter Inc. grew its holdings in Main Street Capital by 1.5% in the second quarter. Adell Harriman & Carpenter Inc. now owns 454,495 shares of the financial services provider’s stock worth $26,861,000 after purchasing an additional 6,853 shares during the last quarter. Finally, Sound Income Strategies LLC grew its holdings in Main Street Capital by 3.2% in the second quarter. Sound Income Strategies LLC now owns 345,827 shares of the financial services provider’s stock worth $20,438,000 after purchasing an additional 10,819 shares during the last quarter. 20.31% of the stock is currently owned by hedge funds and other institutional investors.

About Main Street Capital

Main Street Capital Corporation is a business development company specializes in equity capital to lower middle market companies. The firm specializing in recapitalizations, management buyouts, refinancing, family estate planning, management buyouts, refinancing, industry consolidation, mature, later stage emerging growth.