Main Street Capital Corporation Announces Dividend of $0.30 (NYSE:MAIN)

Key Points

• Main Street Capital Corporation announced a dividend of $0.30 per share, which will be paid on September 26th to shareholders of record as of September 22nd, with an ex-dividend date of September 19th.
• The company currently has a dividend payout ratio of 78.9% and is expected to maintain its annual dividend of $3.00 based on projected earnings of $4.06 per share for the next year.
• Equities research analysts have upgraded Main Street Capital's stock ratings, with price targets ranging from $54.00 to $67.00, indicating a positive outlook for the company's performance.

Main Street Capital Corporation (NYSE:MAIN - Get Free Report) announced a dividend on Tuesday, September 16th, investing.com reports. Shareholders of record on Monday, September 22nd will be paid a dividend of 0.30 per share by the financial services provider on Friday, September 26th. This represents a yield of 644.0%. The ex-dividend date is Friday, September 19th.

Main Street Capital has a dividend payout ratio of 78.9% indicating that 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 $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 Trading Up 0.9%

NYSE MAIN opened at $65.73 on Tuesday. The stock has a 50-day simple moving average of $65.04 and a 200 day simple moving average of $59.15. The company has a market capitalization of $5.88 billion, a PE ratio of 10.83 and a beta of 0.88. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.12. Main Street Capital has a 12 month low of $47.00 and a 12 month high of $67.77.

Main Street Capital (NYSE:MAIN - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The financial services provider reported $0.99 EPS for the quarter, meeting analysts' consensus estimates of $0.99. Main Street Capital had a return on equity of 12.70% and a net margin of 96.16%.The business had revenue of $143.97 million during the quarter, compared to the consensus estimate of $137.23 million. Research analysts forecast that Main Street Capital will post 4.11 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on MAIN shares. Zacks Research raised Main Street Capital from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, August 20th. Truist Financial boosted their price objective on shares of Main Street Capital from $54.00 to $64.00 and gave the stock a "hold" rating in a research report on Monday, August 11th. UBS Group reaffirmed a "neutral" rating and issued a $58.00 target price (up previously from $56.00) on shares of Main Street Capital in a research report on Wednesday, July 16th. B. Riley raised their target price on shares of Main Street Capital from $60.00 to $64.00 and gave the company a "neutral" rating in a research report on Monday, August 18th. Finally, Royal Bank Of Canada raised their target price on shares of Main Street Capital from $52.00 to $67.00 and gave the company an "outperform" rating in a research report on Thursday, August 28th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $61.20.

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.

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