Main Street Capital Corporation (NYSE:MAIN) Declares Dividend Increase - $0.27 Per Share

Key Points

• Main Street Capital raised its monthly dividend 1.9% to $0.27 per share, equivalent to $3.24 annualized and a 5.7% yield. The dividend is payable January 15 to shareholders of record January 8.
• The dividend payout ratio is currently 83.7%; analysts expect earnings of $3.81 per share next year, which would keep the dividend covered at an estimated 83.5% payout ratio.
• Main Street reported quarterly EPS of $0.97, slightly above the $0.96 consensus estimate.

Main Street Capital Corporation (NYSE:MAIN - Get Free Report) declared a monthly dividend on Tuesday, November 3rd. Investors of record on Friday, January 8th will be given a dividend of $0.27 per share by the financial services provider on Friday, January 15th. This represents a $3.24 dividend on an annualized basis and a dividend yield of 5.7%. The ex-dividend date of this dividend is Friday, January 8th. This is a 1.9% increase from Main Street Capital's previous monthly dividend of $0.2650.

Main Street Capital has raised its dividend by an average of 0.1% annually over the last three years and has increased its dividend every year for the last 4 years. Main Street Capital has a dividend payout ratio of 83.7% meaning its dividend is currently covered by earnings, but may not be in the future if the company's earnings tumble. Equities research analysts expect Main Street Capital to earn $3.81 per share next year, which means the company should continue to be able to cover its $3.18 annual dividend with an expected future payout ratio of 83.5%.

Main Street Capital Trading Up 0.2%

Shares of MAIN traded up $0.09 during midday trading on Tuesday, hitting $56.39. The stock had a trading volume of 590,232 shares, compared to its average volume of 641,325. The business has a 50-day simple moving average of $55.67 and a two-hundred day simple moving average of $55.54. The firm has a market cap of $5.27 billion, a P/E ratio of 11.37 and a beta of 0.73. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.11. Main Street Capital has a fifty-two week low of $48.95 and a fifty-two week high of $65.23.

Main Street Capital (NYSE:MAIN - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The financial services provider reported $0.97 EPS for the quarter, beating the consensus estimate of $0.96 by $0.01. Main Street Capital had a net margin of 78.49% and a return on equity of 11.80%. The business had revenue of $327.56 million during the quarter, compared to the consensus estimate of $144.59 million. As a group, equities analysts forecast that Main Street Capital will post 3.75 EPS for the current year.

Main Street Capital Company Profile

Main Street Capital Corporation is a business development company that provides customized debt and equity financing to privately held businesses. The company primarily invests in lower middle-market companies and also makes private loan investments in larger middle-market businesses.

Its investment activities include first-lien, second-lien and subordinated debt, as well as equity investments and other securities. Main Street seeks to provide flexible, long-term capital to support acquisitions, recapitalizations, growth initiatives and other corporate financing needs.

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