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

Main Street Capital Co. (NYSE:MAIN) declared a dividend on Tuesday, March 18th, 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 7.24%. 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 raised its dividend payment by an average of 8.6% per year 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 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 Stock 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. Main Street Capital has a 1-year low of $45.00 and a 1-year high of $63.32. The stock’s 50 day moving average price is $59.83 and its 200-day moving average price is $55.24. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.08 and a quick ratio of 0.08. The company has a market cap of $5.10 billion, a P/E ratio of 10.44 and a beta of 1.26.

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

Analyst Upgrades and Downgrades

Separately, Truist Financial boosted their price objective 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.

Institutional Trading of Main Street Capital

An institutional investor recently bought a new position in Main Street Capital stock. Brighton Jones LLC purchased a new position in Main Street Capital Co. (NYSE:MAIN) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 5,185 shares of the financial services provider’s stock, valued at approximately $304,000. Institutional investors and hedge funds own 20.31% of the company’s stock.

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.