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

Key Points

• Main Street Capital Corporation has announced a quarterly dividend of $0.30 per share, with a payment date of October 15, 2023, for stockholders of record by October 8, 2023.
• The company's current dividend payout ratio stands at 78.9%, and it is expected to drop to 73.9% next year based on projected earnings of $4.06 per share.
• Main Street Capital's stock is currently valued at $62.98, with a market cap of $5.63 billion and a PE ratio of 10.38, reflecting a 1-year trading range from $47.00 to $67.77.

Main Street Capital Corporation (NYSE:MAIN - Get Free Report) announced a quarterly dividend on Monday, August 4th, investing.com reports. Stockholders of record on Wednesday, October 8th will be given a dividend of 0.30 per share by the financial services provider on Wednesday, October 15th. This represents a c) annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend is Wednesday, October 8th.

Main Street Capital has a 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 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 Price Performance

MAIN opened at $62.98 on Monday. Main Street Capital has a one year low of $47.00 and a one year high of $67.77. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.09 and a quick ratio of 0.09. The company's 50 day simple moving average is $65.14 and its 200-day simple moving average is $59.81. The stock has a market capitalization of $5.63 billion, a P/E ratio of 10.38 and a beta of 0.87.

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

Analyst Ratings Changes

Several brokerages recently weighed in on MAIN. UBS Group restated a "neutral" rating and issued a $58.00 price objective (up from $56.00) on shares of Main Street Capital in a report on Wednesday, July 16th. Zacks Research upgraded shares of Main Street Capital from a "hold" rating to a "strong-buy" rating in a report on Wednesday, August 20th. Wall Street Zen upgraded shares of Main Street Capital from a "sell" rating to a "hold" rating in a report on Sunday, August 3rd. Weiss Ratings restated a "buy (b)" rating on shares of Main Street Capital in a report on Saturday, September 27th. Finally, Truist Financial increased their price objective on shares of Main Street Capital from $54.00 to $64.00 and gave the company a "hold" rating in a report on Monday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Main Street Capital has a consensus rating of "Moderate Buy" and an average price target 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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