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

Key Points

• Main Street Capital Corporation has declared a dividend of $0.30 per share, with a dividend yield of 635.0%, to be paid on September 26th to stockholders of record.
• The company has a payout ratio of 78.9%, indicating that while current earnings cover the dividend, future earnings may not guarantee continued coverage.
• Main Street Capital's stock is currently trading at $65.77, with analysts maintaining a moderate buy rating and providing a consensus price target of $61.20.

Main Street Capital Corporation (NYSE:MAIN - Get Free Report) announced a dividend on Friday, September 19th, investing.com reports. Stockholders 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 dividend yield of 635.0%. The ex-dividend date of this dividend is Friday, September 19th.

Main Street Capital has a payout ratio of 78.9% meaning its dividend is currently covered by earnings, but may not be in the future if the company's earnings tumble. Equities 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 Down 0.1%

Shares of Main Street Capital stock traded down $0.06 on Friday, reaching $65.77. 319,416 shares of the company were exchanged, compared to its average volume of 544,632. Main Street Capital has a one year low of $47.00 and a one year high of $67.77. The company has a market capitalization of $5.88 billion, a price-to-earnings 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. The company has a 50-day moving average of $65.29 and a 200 day moving average of $59.28.

Main Street Capital (NYSE:MAIN - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The financial services provider reported $0.99 earnings per share (EPS) for the quarter, hitting 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 company had revenue of $143.97 million for the quarter, compared to analysts' expectations of $137.23 million. On average, equities research analysts forecast that Main Street Capital will post 4.11 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on MAIN shares. Truist Financial increased their price objective on Main Street Capital from $54.00 to $64.00 and gave the stock a "hold" rating in a research report on Monday, August 11th. Royal Bank Of Canada increased their price objective on Main Street Capital from $52.00 to $67.00 and gave the stock an "outperform" rating in a research report on Thursday, August 28th. Zacks Research raised Main Street Capital from a "hold" rating to a "strong-buy" rating in a report on Wednesday, August 20th. Wall Street Zen raised Main Street Capital from a "sell" rating to a "hold" rating in a report on Sunday, August 3rd. Finally, B. Riley increased their target price on Main Street Capital from $60.00 to $64.00 and gave the stock a "neutral" rating in a report on Monday, August 18th. 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. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $61.20.

Main Street Capital Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.