Main Street Capital Co. (MAIN) to Issue Dividend of $0.30 on March 27th

Main Street Capital Co. (NYSE:MAIN) announced a dividend on Tuesday, March 18th, investing.com reports. Investors 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 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% per year over the last three years. Main Street Capital has a dividend payout ratio of 76.3% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. 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 Performance

Shares of NYSE:MAIN traded up $0.45 during midday trading on Tuesday, hitting $57.62. The stock had a trading volume of 328,478 shares, compared to its average volume of 409,641. The company has a market capitalization of $5.10 billion, a PE ratio of 10.44 and a beta of 1.26. The stock has a 50 day moving average price of $59.83 and a two-hundred day moving average price of $55.24. Main Street Capital has a 1 year low of $45.00 and a 1 year high of $63.32. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.13.

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

Wall Street Analysts Forecast Growth

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

Institutional Trading of Main Street Capital

A hedge fund recently bought a new stake in Main Street Capital stock. Brighton Jones LLC purchased a new stake in Main Street Capital Co. (NYSE:MAIN) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 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.

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.