Main Street Capital Corporation (NYSE:MAIN) Raises Dividend to $0.27 Per Share

Main Street Capital Corporation (NYSE:MAIN) announced a monthly dividend on Monday, May 4th. Investors of record on Friday, August 7th will be paid a dividend of 0.265 per share by the financial services provider on Friday, August 14th. This represents a c) annualized dividend and a dividend yield of 5.5%. The ex-dividend date of this dividend is Friday, August 7th. This is a 1.9% increase from Main Street Capital’s previous monthly dividend of $0.26.

Main Street Capital has increased its dividend payment by an average of 0.1%annually over the last three years and has raised its dividend every year for the last 4 years. Main Street Capital has a dividend payout ratio of 82.1% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities research analysts expect Main Street Capital to earn $3.96 per share next year, which means the company should continue to be able to cover its $3.12 annual dividend with an expected future payout ratio of 78.8%.

Main Street Capital Price Performance

MAIN traded up $1.58 on Tuesday, hitting $57.34. 470,606 shares of the company’s stock were exchanged, compared to its average volume of 705,079. Main Street Capital has a fifty-two week low of $50.77 and a fifty-two week high of $67.77. The stock has a market cap of $5.17 billion, a price-to-earnings ratio of 10.39 and a beta of 0.76. The firm has a 50-day moving average price of $55.17 and a 200-day moving average price of $58.32. The company has a current ratio of 0.06, a quick ratio of 0.06 and a debt-to-equity ratio of 0.12.

Main Street Capital (NYSE:MAIN) last issued its earnings results on Thursday, February 26th. The financial services provider reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $1.06 by $0.03. The business had revenue of $156.17 million during the quarter, compared to analysts’ expectations of $141.50 million. Main Street Capital had a net margin of 87.11% and a return on equity of 12.44%. As a group, equities analysts anticipate that Main Street Capital will post 4.02 earnings per share for the current year.

About Main Street Capital

Main Street Capital Corporation (NYSE: MAIN) is a publicly traded business development company that provides flexible debt and equity capital to lower middle market companies in the United States. Headquartered in Houston, Texas, Main Street Capital was formed in 2007 and operates under the Investment Company Act of 1940. The firm’s management services are provided by Main Street Capital Management, L.P., which focuses on identifying growing private companies with enterprise values typically between $10 million and $150 million.

Main Street Capital’s primary offerings include first-lien senior secured loans, second-lien loans, subordinated debt, and equity co-investments or minority equity positions.