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

Key Points

• Main Street Capital Corporation declared a dividend of $0.30 per share for shareholders of record on September 22nd, with an ex-dividend date of September 19th, representing a yield of 638.0%.
• The company's recent earnings report showed 0.99 earnings per share, meeting analysts' expectations, and a revenue of $143.97 million, exceeding estimates.
• Institutional investors now own 20.31% of Main Street Capital's stocks, indicating growing interest from larger financial entities.

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 of this dividend 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 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 Price Performance

NYSE MAIN traded down $0.29 during trading hours on Friday, hitting $65.85. 1,944,787 shares of the company's stock traded hands, compared to its average volume of 495,497. Main Street Capital has a 52-week low of $47.00 and a 52-week high of $67.77. The company has a market capitalization 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. The firm's 50-day moving average is $65.35 and its 200-day moving average is $59.32.

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, meeting the consensus estimate of $0.99. Main Street Capital had a net margin of 96.16% and a return on equity of 12.70%. The company had revenue of $143.97 million during the quarter, compared to analysts' expectations of $137.23 million. Equities analysts forecast that Main Street Capital will post 4.11 EPS for the current fiscal year.

Insider Buying and Selling at Main Street Capital

In other news, EVP Jason B. Beauvais sold 13,664 shares of the company's stock in a transaction on Friday, June 27th. The shares were sold at an average price of $59.37, for a total value of $811,231.68. Following the completion of the transaction, the executive vice president owned 181,526 shares in the company, valued at approximately $10,777,198.62. This represents a 7.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Nicholas Meserve sold 14,000 shares of the company's stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $67.15, for a total transaction of $940,100.00. Following the completion of the transaction, the director owned 82,383 shares of the company's stock, valued at approximately $5,532,018.45. The trade was a 14.53% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 4.00% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of MAIN. Smartleaf Asset Management LLC boosted its holdings in shares of Main Street Capital by 109.6% in the 2nd quarter. Smartleaf Asset Management LLC now owns 478 shares of the financial services provider's stock valued at $28,000 after buying an additional 250 shares in the last quarter. Financial Network Wealth Advisors LLC acquired a new stake in Main Street Capital during the 1st quarter worth $39,000. Spire Wealth Management acquired a new stake in Main Street Capital during the 1st quarter worth $40,000. Wellington Shields & Co. LLC acquired a new stake in Main Street Capital during the 1st quarter worth $41,000. Finally, Quarry LP acquired a new stake in Main Street Capital during the 1st quarter worth $48,000. Institutional investors and hedge funds own 20.31% of the company's stock.

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.