Main Street Capital Co. (NYSE:MAIN) Increases Dividend to $0.25 Per Share

Main Street Capital Co. (NYSE:MAIN) announced a monthly dividend on Wednesday, November 6th, Wall Street Journal reports. Shareholders of record on Wednesday, January 8th will be paid a dividend of 0.25 per share by the financial services provider on Wednesday, January 15th. This represents a $3.00 annualized dividend and a yield of 5.82%. The ex-dividend date of this dividend is Wednesday, January 8th. This is a boost from Main Street Capital’s previous monthly dividend of $0.25.

Main Street Capital has increased its dividend payment by an average of 18.7% annually over the last three years. Main Street Capital has a dividend payout ratio of 74.2% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Main Street Capital to earn $3.91 per share next year, which means the company should continue to be able to cover its $2.94 annual dividend with an expected future payout ratio of 75.2%.

Main Street Capital Stock Up 1.7 %

NYSE:MAIN traded up $0.85 during trading hours on Wednesday, hitting $51.55. 565,899 shares of the company’s stock traded hands, compared to its average volume of 361,752. The stock’s fifty day moving average price is $50.45 and its two-hundred day moving average price is $49.98. The firm has a market cap of $4.49 billion, a P/E ratio of 9.48 and a beta of 1.29. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.07 and a current ratio of 0.07. Main Street Capital has a twelve month low of $39.87 and a twelve month high of $52.62.

Main Street Capital (NYSE:MAIN) last posted its quarterly earnings results on Thursday, August 8th. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.01. The business had revenue of $132.15 million during the quarter, compared to analyst estimates of $132.62 million. Main Street Capital had a net margin of 87.58% and a return on equity of 14.06%. During the same period in the prior year, the firm earned $1.06 earnings per share. On average, research analysts expect that Main Street Capital will post 4.12 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

MAIN has been the subject of a number of research analyst reports. Oppenheimer increased their target price on shares of Main Street Capital from $43.00 to $44.00 and gave the stock a “market perform” rating in a research report on Tuesday, August 13th. Royal Bank of Canada reiterated an “outperform” rating and issued a $52.00 target price on shares of Main Street Capital in a research report on Wednesday, August 14th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, Main Street Capital has a consensus rating of “Hold” and an average price target of $48.40.

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.