Main Street Capital Corporation (NYSE:MAIN) Announces $0.26 Monthly Dividend

Key Points

• Main Street Capital Corporation has declared a monthly dividend of $0.26, with shareholders of record set to receive this payment on December 15th.
• The company's dividend payout ratio is currently 78.9%, but analysts predict a future payout ratio of 73.9% based on expected earnings of $4.06 per share next year.
• Main Street Capital shares are trading at approximately $64.17, with a market cap of $5.71 billion and a P/E ratio of 10.89.

Main Street Capital Corporation (NYSE:MAIN - Get Free Report) announced a monthly dividend on Thursday, August 7th, Wall Street Journal reports. Stockholders of record on Monday, December 8th will be given a dividend of 0.255 per share by the financial services provider on Monday, December 15th. This represents a c) annualized dividend and a dividend yield of 4.7%. The ex-dividend date is Monday, December 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 decline. 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 Stock Down 0.4%

Shares of NYSE MAIN traded down $0.25 during mid-day trading on Monday, reaching $65.38. 366,752 shares of the company's stock traded hands, compared to its average volume of 551,143. Main Street Capital has a 1-year low of $47.00 and a 1-year high of $67.03. The stock has a market cap of $5.82 billion, a P/E ratio of 10.79 and a beta of 0.85. The business has a 50-day simple moving average of $61.13 and a 200 day simple moving average of $58.28. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.10 and a quick ratio of 0.10.

Main Street Capital (NYSE:MAIN - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The financial services provider reported $0.99 EPS for the quarter, hitting the consensus estimate of $0.99. The business 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 12.82%. On average, analysts expect that Main Street Capital will post 4.11 EPS for the current fiscal year.

Insider Buying and Selling

In related news, 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 of the company's stock, valued at approximately $10,777,198.62. The trade was a 7.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 4.00% of the company's stock.

Institutional Investors Weigh In On Main Street Capital

A number of large investors have recently modified their holdings of MAIN. Brighton Jones LLC acquired a new position in Main Street Capital in the fourth quarter valued at about $304,000. JPMorgan Chase & Co. lifted its position in Main Street Capital by 37.1% in the fourth quarter. JPMorgan Chase & Co. now owns 139,189 shares of the financial services provider's stock valued at $8,154,000 after buying an additional 37,640 shares during the last quarter. Envestnet Asset Management Inc. lifted its position in Main Street Capital by 11.8% in the fourth quarter. Envestnet Asset Management Inc. now owns 120,211 shares of the financial services provider's stock valued at $7,042,000 after buying an additional 12,726 shares during the last quarter. Bank of Montreal Can acquired a new stake in shares of Main Street Capital during the fourth quarter worth about $258,000. Finally, Invesco Ltd. lifted its position in shares of Main Street Capital by 470.4% during the fourth quarter. Invesco Ltd. now owns 139,166 shares of the financial services provider's stock worth $8,152,000 after purchasing an additional 114,768 shares in the last quarter. Hedge funds and other institutional investors own 20.31% of the company's stock.

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.