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

Key Points

• Main Street Capital declared a quarterly dividend of $0.30 per share, payable July 15 to shareholders of record July 8, implying a $3.12 annualized payout and a 2.1% yield.
• The dividend is currently covered by earnings with a payout ratio of 82.1%, and analysts forecast $3.96 in EPS next year (an expected payout ratio of ~78.8%), suggesting coverage should continue if estimates hold.
• Shares rose 2.8% to $57.34 following an earnings beat (Q EPS $1.09 vs. $1.06 estimate), and the company trades at a PE of about 10.4 with a $5.17 billion market cap.

Main Street Capital Corporation (NYSE:MAIN - Get Free Report) announced a quarterly dividend on Monday, May 4th. Shareholders of record on Wednesday, July 8th will be given a dividend of 0.30 per share by the financial services provider on Wednesday, July 15th. This represents a c) dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend is Wednesday, July 8th.

Main Street Capital has raised its dividend by an average of 0.1%per year over the last three years and has raised its dividend every year for the last 4 years. Main Street Capital has a payout ratio of 82.1% meaning 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 $3.96 per share next year, which means the company should continue to be able to cover its $3.12 annual dividend with an expected future payout ratio of 78.8%.

Main Street Capital Trading Up 2.8%

MAIN stock traded up $1.58 during trading on Tuesday, reaching $57.34. 470,289 shares of the stock traded hands, compared to its average volume of 704,491. The business's 50 day moving average price is $55.17 and its 200-day moving average price is $58.32. Main Street Capital has a 52-week low of $50.77 and a 52-week high of $67.77. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.06 and a quick ratio of 0.06. The firm has a market capitalization of $5.17 billion, a PE ratio of 10.39 and a beta of 0.76.

Main Street Capital (NYSE:MAIN - Get Free Report) last issued its earnings results on Thursday, February 26th. The financial services provider reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.03. Main Street Capital had a return on equity of 12.44% and a net margin of 87.11%.The company had revenue of $156.17 million during the quarter, compared to the consensus estimate of $141.50 million. As a group, sell-side analysts forecast that Main Street Capital will post 4.02 earnings per share for the current year.

About Main Street Capital

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.

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