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

Key Points

• Main Street Capital Corporation announced a dividend of $0.30 per share, with a dividend yield of 645.0%, payable on September 26th.
• The company has a payout ratio of 78.9% and is projected to maintain its annual dividend of $3.00 with an expected future payout ratio of 73.9% based on estimated earnings of $4.06 per share next year.
• Recent insider selling has occurred, with significant shares sold by executives, indicating a decrease in their ownership positions in the company.

Main Street Capital Corporation (NYSE:MAIN - Get Free Report) announced a quarterly dividend on Monday, August 4th, investing.com reports. Investors 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 yield of 1.8%. The ex-dividend date of this dividend is Wednesday, October 8th.

Main Street Capital has a dividend 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 $0.29 during trading hours on Friday, hitting $65.85. The company's stock had a trading volume of 1,944,787 shares, compared to its average volume of 563,715. The stock has a fifty day simple moving average of $65.35 and a 200-day simple moving average of $59.35. The company has a market capitalization of $5.89 billion, a P/E 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 twelve month low of $47.00 and a twelve month high of $67.77.

Main Street Capital (NYSE:MAIN - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The financial services provider reported $0.99 earnings per share for the quarter, meeting the consensus estimate of $0.99. The business had revenue of $143.97 million for the quarter, compared to analyst estimates of $137.23 million. Main Street Capital had a return on equity of 12.70% and a net margin of 96.16%. On average, analysts anticipate that Main Street Capital will post 4.11 EPS for the current fiscal year.

Insider Buying and Selling

In other Main Street Capital news, Director Nicholas Meserve sold 14,000 shares of the stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $67.15, for a total transaction of $940,100.00. Following the completion of the transaction, the director directly owned 82,383 shares of the company's stock, valued at approximately $5,532,018.45. This represents a 14.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Jason B. Beauvais sold 13,664 shares of the business'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 sale, the executive vice president owned 181,526 shares in the company, valued at approximately $10,777,198.62. The trade was a 7.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.09% of the stock is owned by corporate insiders.

Institutional Trading of Main Street Capital

Institutional investors have recently modified their holdings of the business. Jones Financial Companies Lllp boosted its holdings in shares of Main Street Capital by 45,123.0% in the first quarter. Jones Financial Companies Lllp now owns 590,613 shares of the financial services provider's stock worth $33,405,000 after acquiring an additional 589,307 shares during the period. Invesco Ltd. grew its holdings in Main Street Capital by 282.5% during the 1st quarter. Invesco Ltd. now owns 532,267 shares of the financial services provider's stock valued at $30,105,000 after buying an additional 393,101 shares in the last quarter. HRT Financial LP increased its position in shares of Main Street Capital by 147.7% during the second quarter. HRT Financial LP now owns 213,431 shares of the financial services provider's stock valued at $12,613,000 after buying an additional 127,270 shares during the period. Victory Capital Management Inc. bought a new position in shares of Main Street Capital in the first quarter valued at approximately $6,205,000. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new position in Main Street Capital during the first quarter valued at approximately $4,840,000. 20.31% of the stock is currently owned by hedge funds and other institutional investors.

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.