Main Street Capital Corporation (NYSE:MAIN) to Issue Quarterly Dividend of $0.30

Key Points

• Main Street Capital declared a quarterly dividend of $0.30 per share, payable December 28 to shareholders of record December 18. That equates to $1.20 annually and a 2.1% yield.
• The dividend has been raised in each of the past four years, but the current payout ratio is 83.7%. Analysts expect next year’s earnings to cover the annual dividend, with a projected payout ratio of 83.5%.
• Main Street reported quarterly EPS of $0.97, slightly above the $0.96 consensus estimate.

Main Street Capital Corporation (NYSE:MAIN - Get Free Report) announced a quarterly dividend on Tuesday, November 3rd. Stockholders of record on Friday, December 18th will be given a dividend of $0.30 per share by the financial services provider on Monday, December 28th. This represents a $1.20 annualized dividend and a dividend yield of 2.1%. The ex-dividend date is Friday, December 18th.

Main Street Capital has increased its dividend payment by an average of 0.1% annually over the last three years and has raised 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 Stock Performance

Shares of MAIN stock traded up $0.09 on Tuesday, hitting $56.39. 590,232 shares of the stock traded hands, compared to its average volume of 641,325. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.05 and a quick ratio of 0.05. The company's fifty day moving average is $55.67 and its 200 day moving average is $55.54. Main Street Capital has a 1-year low of $48.95 and a 1-year high of $65.23. The company has a market capitalization of $5.27 billion, a PE ratio of 11.37 and a beta of 0.73.

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

About Main Street Capital

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.