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

Key Points

• Main Street Capital Corporation announced a quarterly dividend of $0.30 per share, with a yield of 635.0%, to be paid to shareholders on September 26th.
• The company's payout ratio stands at 78.9%, indicating that the dividend is currently covered by earnings but may be at risk as earnings fluctuate.
• Main Street Capital shares recently traded down 1.1% to $65.13, following an earnings report where the company met analyst expectations with earnings per share of $0.99.

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 paid 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 is Wednesday, October 8th.

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 decline. 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 Stock Performance

Shares of NYSE:MAIN traded down $1.52 during trading on Monday, hitting $64.26. 757,604 shares of the stock were exchanged, compared to its average volume of 555,058. Main Street Capital has a 1-year low of $47.00 and a 1-year high of $67.77. The company has a market capitalization of $5.75 billion, a price-to-earnings ratio of 10.59 and a beta of 0.88. The company's fifty day simple moving average is $65.36 and its 200-day simple moving average is $59.39. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.09 and a current ratio of 0.09.

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 for the quarter, hitting the consensus estimate 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 analyst estimates of $137.23 million. Sell-side analysts expect that Main Street Capital will post 4.11 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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