Main Street Capital Corporation (NYSE:MAIN) to Issue $0.26 Dividend

Key Points

• Main Street Capital Corporation announced a dividend of $0.26 per share, with an impressive yield of 473.0%, payable on Friday, August 15th to stockholders recorded on August 11th.
• The company has a current dividend payout ratio of 78.9%, with analysts predicting a future payout ratio of 73.9% based on anticipated earnings of $4.06 per share next year.
• Recent insider activity includes EVP Jason B. Beauvais selling 13,664 shares, a 7.00% decrease in his ownership, while institutional investors recently increased their stake significantly.

Main Street Capital Corporation (NYSE:MAIN - Get Free Report) declared a dividend on Friday, August 1st, investing.com reports. Stockholders of record on Monday, August 11th will be given a dividend of 0.255 per share by the financial services provider on Friday, August 15th. This represents a dividend yield of 473.0%. The ex-dividend date is Friday, August 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 Stock Up 0.2%

NYSE MAIN opened at $64.64 on Friday. The firm has a market cap of $5.75 billion, a PE ratio of 10.97 and a beta of 0.82. Main Street Capital has a 52 week low of $45.00 and a 52 week high of $66.39. The business's fifty day simple moving average is $60.19 and its 200-day simple moving average is $58.13. The company has a quick ratio of 0.10, a current ratio of 0.10 and a debt-to-equity ratio of 0.12.

Main Street Capital (NYSE:MAIN - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.01. The firm had revenue of $137.05 million for the quarter, compared to analyst estimates of $137.50 million. Main Street Capital had a net margin of 94.61% and a return on equity of 13.02%. As a group, equities analysts anticipate that Main Street Capital will post 4.11 earnings per share for the current year.

Insider Activity at Main Street Capital

In other news, EVP Jason B. Beauvais sold 13,664 shares of the firm's stock in a transaction dated Friday, June 27th. The stock was sold at an average price of $59.37, for a total value of $811,231.68. Following the transaction, the executive vice president directly owned 181,526 shares in the company, valued at $10,777,198.62. This trade represents a 7.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 4.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Main Street Capital

Hedge funds have recently modified their holdings of the stock. Jones Financial Companies Lllp grew its stake in Main Street Capital by 45,123.0% during the 1st quarter. Jones Financial Companies Lllp now owns 590,613 shares of the financial services provider's stock valued at $33,405,000 after purchasing an additional 589,307 shares in the last quarter. Invesco Ltd. grew its stake 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 purchasing an additional 393,101 shares in the last quarter. Victory Capital Management Inc. acquired a new stake in Main Street Capital during the 1st quarter valued at approximately $6,205,000. First Trust Advisors LP acquired a new stake in Main Street Capital during the 4th quarter valued at approximately $6,059,000. Finally, BI Asset Management Fondsmaeglerselskab A S acquired a new stake in Main Street Capital during the 1st quarter valued at approximately $4,840,000. 20.31% of the stock is currently owned by hedge funds and other institutional investors.

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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