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

Key Points

• Main Street Capital declared a quarterly dividend of $0.30 per share, payable October 15 to shareholders of record on October 8. The dividend implies a $1.20 annualized payout and a 2.1% yield.
• The company has increased its dividend for four consecutive years, but its 83.7% payout ratio indicates limited coverage if earnings weaken. Analysts expect an approximately 82.2% payout ratio next year.
• Main Street Capital shares rose 2.5% to $57.14, despite the company’s latest quarterly earnings missing estimates, with EPS of $0.93 versus the $1.04 consensus and revenue of $73.44 million versus $145.23 million expected.

Main Street Capital Corporation (NYSE:MAIN - Get Free Report) declared a quarterly dividend on Monday, August 3rd. Shareholders of record on Thursday, October 8th will be given a dividend of 0.30 per share by the financial services provider on Thursday, October 15th. This represents a c) dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend is Thursday, October 8th.

Main Street Capital has raised its dividend by an average of 0.1%annually over the last three years and has raised its dividend annually for the last 4 consecutive years. Main Street Capital has a payout ratio of 83.7% 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 $3.87 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 82.2%.

Main Street Capital Stock Up 2.5%

Shares of NYSE:MAIN traded up $1.39 during trading on Tuesday, hitting $57.14. 654,197 shares of the company were exchanged, compared to its average volume of 703,839. The stock has a market cap of $5.31 billion, a price-to-earnings ratio of 12.03 and a beta of 0.72. Main Street Capital has a fifty-two week low of $48.95 and a fifty-two week high of $67.77. The firm has a fifty day moving average price of $52.29 and a two-hundred day moving average price of $55.20. The company has a current ratio of 0.06, a quick ratio of 0.06 and a debt-to-equity ratio of 0.11.

Main Street Capital (NYSE:MAIN - Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The financial services provider reported $0.93 EPS for the quarter, missing the consensus estimate of $1.04 by ($0.11). Main Street Capital had a net margin of 74.86% and a return on equity of 12.01%. The company had revenue of $73.44 million during the quarter, compared to analyst estimates of $145.23 million. As a group, research analysts anticipate that Main Street Capital will post 3.79 earnings per share for the current fiscal year.

Main Street Capital Company Profile

Main Street Capital Corporation NYSE: MAIN is a publicly traded business development company that provides flexible debt and equity capital to lower middle market companies in the United States. Headquartered in Houston, Texas, Main Street Capital was formed in 2007 and operates under the Investment Company Act of 1940. The firm's management services are provided by Main Street Capital Management, L.P., which focuses on identifying growing private companies with enterprise values typically between $10 million and $150 million.

Main Street Capital's primary offerings include first-lien senior secured loans, second-lien loans, subordinated debt, and equity co-investments or minority equity positions.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source