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

Key Points

• Main Street Capital Corporation announced a dividend of $0.30 per share, set to be paid to investors on September 26th, with an ex-dividend date of September 19th.
• The company's dividend payout ratio is currently 78.9%, but it is projected to decrease to 73.9% next year based on expected earnings of $4.06 per share.
• Main Street Capital's stock traded at $65.96 with a market cap of $5.90 billion, showing a PE ratio of 10.87 and a 1-year high of $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 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 1.8%. The ex-dividend date is Wednesday, October 8th.

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 fall. 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 traded up $0.17 during trading hours on Thursday, hitting $65.96. The company's stock had a trading volume of 672,486 shares, compared to its average volume of 544,837. The stock has a market cap of $5.90 billion, a price-to-earnings ratio of 10.87 and a beta of 0.88. The business's 50-day moving average price is $65.21 and its 200-day moving average price is $59.24. 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 issued its quarterly earnings data on Thursday, August 7th. The financial services provider reported $0.99 EPS for the quarter, hitting analysts' consensus estimates of $0.99. The business had revenue of $143.97 million during the quarter, compared to analysts' expectations of $137.23 million. Main Street Capital had a net margin of 96.16% and a return on equity of 12.70%. Sell-side analysts expect that Main Street Capital will post 4.11 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Zacks Research upgraded Main Street Capital from a "hold" rating to a "strong-buy" rating in a 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 company a "hold" rating in a research report on Monday, August 11th. Wall Street Zen raised shares of Main Street Capital from a "sell" rating to a "hold" rating in a research note on Sunday, August 3rd. Royal Bank Of Canada increased their price objective on shares of Main Street Capital from $52.00 to $67.00 and gave the stock an "outperform" rating in a research report on Thursday, August 28th. Finally, UBS Group restated a "neutral" rating and set a $58.00 target price (up previously from $56.00) on shares of Main Street Capital in a research report on Wednesday, July 16th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, Main Street Capital has a consensus rating of "Moderate Buy" and a consensus 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.