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

Key Points

• Main Street Capital Corporation declared a dividend of $0.30 per share, with an impressive yield of 635.0%, payable to shareholders of record on September 22nd.
• The company has a payout ratio of 78.9%, indicating that its current dividend is covered by earnings, though future coverage may be at risk if earnings decline.
• Main Street Capital's stock recently traded at $65.27, with a market capitalization of $5.84 billion and a price-to-earnings ratio of 10.75.

Main Street Capital Corporation (NYSE:MAIN - Get Free Report) announced a dividend on Friday, September 19th, investing.com reports. Shareholders of record on Monday, September 22nd will be given a dividend of 0.30 per share by the financial services provider on Friday, September 26th. This represents a yield of 635.0%. The ex-dividend date of this dividend is Friday, September 19th.

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

NYSE MAIN traded down $0.56 on Friday, hitting $65.27. 185,629 shares of the company's stock were exchanged, compared to its average volume of 543,987. The stock has a 50-day moving average of $65.29 and a 200-day moving average of $59.28. 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 52 week low of $47.00 and a 52 week high of $67.77. The stock has a market cap of $5.84 billion, a price-to-earnings ratio of 10.75 and a beta of 0.88.

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 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 firm had revenue of $143.97 million during the quarter, compared to analysts' expectations of $137.23 million. Analysts expect that Main Street Capital will post 4.11 earnings per share for the current year.

Wall Street Analyst Weigh In

MAIN has been the subject of a number of research reports. B. Riley increased 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. Zacks Research upgraded Main Street Capital from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, August 20th. UBS Group reiterated a "neutral" rating and issued a $58.00 price target (up from $56.00) on shares of Main Street Capital in a research note on Wednesday, July 16th. Wall Street Zen upgraded Main Street Capital from a "sell" rating to a "hold" rating in a research note on Sunday, August 3rd. Finally, Royal Bank Of Canada increased 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. One equities 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 stock. According to data from MarketBeat, Main Street Capital presently has an average rating of "Moderate Buy" and an average target price 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.

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