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

Main Street Capital Co. (NYSE:MAIN) announced a dividend on Tuesday, March 18th, investing.com reports. Stockholders of record on Friday, March 21st will be paid a dividend of 0.30 per share by the financial services provider on Thursday, March 27th. This represents a dividend yield of 7.24%. The ex-dividend date of this dividend is Thursday, March 20th. This is a 20.0% increase from Main Street Capital’s previous dividend of $0.25.

Main Street Capital has increased its dividend by an average of 8.6% annually over the last three years. Main Street Capital has a payout ratio of 76.3% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. 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 Trading Up 0.8 %

Shares of Main Street Capital stock traded up $0.45 on Tuesday, reaching $57.62. 328,478 shares of the company were exchanged, compared to its average volume of 409,641. The stock has a fifty day moving average price of $59.83 and a 200-day moving average price of $55.24. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $5.10 billion, a price-to-earnings ratio of 10.44 and a beta of 1.26. Main Street Capital has a fifty-two week low of $45.00 and a fifty-two week high of $63.32.

Main Street Capital (NYSE:MAIN) last posted its quarterly earnings data on Thursday, February 27th. The financial services provider reported $1.02 earnings per share for the quarter, missing the consensus estimate of $1.08 by ($0.06). The firm had revenue of $140.44 million for the quarter, compared to analysts’ expectations of $141.40 million. Main Street Capital had a return on equity of 13.83% and a net margin of 89.25%. On average, analysts expect that Main Street Capital will post 4.11 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, Truist Financial lifted their target price on shares of Main Street Capital from $52.00 to $62.00 and gave the company a “hold” rating in a research note on Monday, March 3rd.

Hedge Funds Weigh In On Main Street Capital

A hedge fund recently bought a new stake in Main Street Capital stock. Brighton Jones LLC bought a new position in Main Street Capital Co. (NYSE:MAIN) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 5,185 shares of the financial services provider’s stock, valued at approximately $304,000. Hedge funds and other institutional investors own 20.31% of the company’s stock.

Main Street Capital Company Profile

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.