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

Main Street Capital Co. (NYSE:MAIN) declared a dividend on Monday, February 24th, NASDAQ Dividends reports. Investors 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 of this dividend is Thursday, March 20th. This is a positive change from Main Street Capital’s previous dividend of $0.25.

Main Street Capital has raised 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% meaning 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 Trading Down 0.7 %

Shares of NYSE:MAIN traded down $0.43 during trading on Wednesday, hitting $59.63. 417,605 shares of the company’s stock were exchanged, compared to its average volume of 513,794. Main Street Capital has a 1-year low of $45.00 and a 1-year high of $63.31. 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 cap of $5.26 billion, a P/E ratio of 10.80 and a beta of 1.28. The firm has a 50-day moving average price of $59.76 and a two-hundred day moving average price of $54.38.

Analyst Upgrades and Downgrades

Separately, B. Riley boosted their price objective on shares of Main Street Capital from $49.00 to $51.00 and gave the company a “neutral” rating in a research report on Monday, November 11th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, Main Street Capital presently 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.