Main Street Capital Corporation (NYSE:MAIN) to Issue $0.30 Dividend

Key Points

• Main Street Capital Corporation declared a dividend of $0.30 per share, with an ex-dividend date of September 19th, and a payout ratio of 78.9%, indicating the dividend is currently covered by earnings.
• The company's shares recently traded at $64.88, showing a 52-week high of $67.77 and a market capitalization of $5.80 billion.
• Analysts have generally rated Main Street Capital as a "Moderate Buy," with target price estimates ranging from $58.00 to $67.00 following upgrades from several brokerages.

Main Street Capital Corporation (NYSE:MAIN - Get Free Report) declared a dividend on Tuesday, September 16th, 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 dividend yield of 644.0%. The ex-dividend date of this dividend is Friday, September 19th.

Main Street Capital has a 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 tumble. 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

Shares of MAIN traded down $0.30 during midday trading on Tuesday, hitting $64.88. 165,462 shares of the company traded hands, compared to its average volume of 541,724. The firm has a 50 day moving average of $65.04 and a 200-day moving average of $59.15. 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 $5.80 billion, a price-to-earnings ratio of 10.68 and a beta of 0.88. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.09 and a current ratio of 0.09.

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 EPS for the quarter, meeting the consensus estimate of $0.99. Main Street Capital had a net margin of 96.16% and a return on equity of 12.70%. The business had revenue of $143.97 million during the quarter, compared to the consensus estimate of $137.23 million. On average, analysts forecast that Main Street Capital will post 4.11 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently commented on MAIN. Wall Street Zen raised shares of Main Street Capital from a "sell" rating to a "hold" rating in a report on Sunday, August 3rd. Truist Financial increased their price target on shares of Main Street Capital from $54.00 to $64.00 and gave the company a "hold" rating in a report on Monday, August 11th. UBS Group reissued a "neutral" rating and issued a $58.00 price objective (up previously from $56.00) on shares of Main Street Capital in a research note on Wednesday, July 16th. Royal Bank Of Canada raised their price objective on shares of Main Street Capital from $52.00 to $67.00 and gave the stock an "outperform" rating in a research note on Thursday, August 28th. Finally, B. Riley raised their price objective on shares of Main Street Capital from $60.00 to $64.00 and gave the stock a "neutral" rating in a research note on Monday, August 18th. One 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 company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $61.20.

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.

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