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

Main Street Capital Co. (NYSE:MAIN) declared a dividend on Wednesday, March 19th, investing.com reports. Stockholders of record on Friday, March 21st will be given a dividend of 0.30 per share by the financial services provider on Thursday, March 27th. This represents a dividend yield of 7.11%. The ex-dividend date 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 dividend 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 fall. Equities 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 MAIN stock traded up $0.58 during mid-day trading on Wednesday, hitting $58.21. 451,034 shares of the stock traded hands, compared to its average volume of 409,842. 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 firm has a market cap of $5.15 billion, a price-to-earnings ratio of 10.55 and a beta of 1.26. The company’s 50-day simple moving average is $59.81 and its 200-day simple moving average is $55.30. Main Street Capital has a twelve month low of $45.00 and a twelve month high of $63.32.

Main Street Capital (NYSE:MAIN) last released its earnings results on Thursday, February 27th. The financial services provider reported $1.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.06). The business had revenue of $140.44 million during the quarter, compared to analyst estimates of $141.40 million. Main Street Capital had a net margin of 89.25% and a return on equity of 13.83%. As a group, equities research analysts expect that Main Street Capital will post 4.11 earnings per share for the current year.

Analysts Set New Price Targets

Separately, Truist Financial increased their price target on Main Street Capital from $52.00 to $62.00 and gave the stock a “hold” rating in a research report on Monday, March 3rd.

Institutional Investors 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) during the fourth quarter, according to its most recent 13F filing with the SEC. The fund bought 5,185 shares of the financial services provider’s stock, valued at approximately $304,000. 20.31% of the stock is currently owned by institutional investors and hedge funds.

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.