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

Key Points

• Main Street Capital Corporation declared a dividend of $0.30 per share, with a payout date of September 26th and an ex-dividend date on September 19th, reflecting a yield of 635.0%.
• The company has a current payout ratio of 78.9%, with analysts projecting earnings of $4.06 per share for the next year, indicating the ability to sustain its annual dividend of $3.00.
• Main Street Capital's recent quarterly earnings met expectations at $0.99 per share, with a revenue of $143.97 million exceeding analyst estimates of $137.23 million.

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 1.8%. 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 tumble. 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 Trading Down 0.4%

Shares of Main Street Capital stock traded down $0.29 during trading on Friday, hitting $65.85. The stock had a trading volume of 1,944,787 shares, compared to its average volume of 495,497. The firm's fifty day simple moving average is $65.35 and its 200-day simple moving average is $59.33. The stock has a market cap of $5.89 billion, a PE ratio of 10.85 and a beta of 0.88. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.09 and a quick ratio of 0.09. 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 released its earnings results on Thursday, August 7th. The financial services provider reported $0.99 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.99. The firm had revenue of $143.97 million during the quarter, compared to analyst estimates of $137.23 million. Main Street Capital had a net margin of 96.16% and a return on equity of 12.70%. As a group, sell-side analysts expect that Main Street Capital will post 4.11 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on MAIN shares. Zacks Research upgraded shares of Main Street Capital from a "hold" rating to a "strong-buy" rating in a report on Wednesday, August 20th. Royal Bank Of Canada lifted their price objective on shares of Main Street Capital from $52.00 to $67.00 and gave the company an "outperform" rating in a report on Thursday, August 28th. B. Riley lifted their price objective on shares of Main Street Capital from $60.00 to $64.00 and gave the company a "neutral" rating in a report on Monday, August 18th. UBS Group reiterated a "neutral" rating and set a $58.00 price objective (up previously from $56.00) on shares of Main Street Capital in a report on Wednesday, July 16th. Finally, Truist Financial lifted 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 research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the stock 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.