Main Street Capital Co. (NYSE:MAIN) to Issue Dividend Increase – $0.30 Per Share

Main Street Capital Co. (NYSE:MAIN) announced a dividend on Monday, February 24th, NASDAQ Dividends reports. Stockholders of record on Thursday, March 20th will be paid a dividend of 0.30 per share by the financial services provider on Thursday, March 27th. The ex-dividend date is Thursday, March 20th. This is a positive change from Main Street Capital’s previous dividend of $0.25.

Main Street Capital has increased its dividend payment by an average of 8.6% per year over the last three years. Main Street Capital has a dividend payout ratio of 77.3% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities research 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 Stock Performance

NYSE MAIN traded down $0.43 during mid-day trading on Wednesday, reaching $59.63. 417,605 shares of the stock were exchanged, compared to its average volume of 513,794. The company has a market capitalization of $5.26 billion, a P/E ratio of 10.80 and a beta of 1.28. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.08 and a current ratio of 0.08. The business’s 50 day moving average is $59.76 and its 200-day moving average is $54.38. Main Street Capital has a 1 year low of $45.00 and a 1 year high of $63.31.

Wall Street Analysts Forecast Growth

Separately, B. Riley increased their target price on shares of Main Street Capital from $49.00 to $51.00 and gave the stock a “neutral” rating in a research note on Monday, November 11th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $48.80.

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.