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

Key Points

• Main Street Capital Corporation has announced a dividend of $0.30 per share, with a payout date scheduled for September 26th, impacting stockholders of record on September 22nd.
• The company has a current payout ratio of 78.9%, with analysts projecting earnings of $4.06 per share for the next year, suggesting the dividend will remain sustainable despite potential earnings fluctuations.
• Select analysts have upgraded their ratings on Main Street Capital, with a consensus rating of "Moderate Buy" and a target price averaging $61.20, reflecting positive market sentiment on the stock.

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 dividend 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. 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 $0.29 during midday trading on Friday, hitting $65.85. The company's stock had a trading volume of 1,944,787 shares, compared to its average volume of 495,497. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.12. Main Street Capital has a one year low of $47.00 and a one year high of $67.77. The stock has a market capitalization of $5.89 billion, a price-to-earnings ratio of 10.85 and a beta of 0.88. The company's fifty day simple moving average is $65.35 and its two-hundred day simple moving average is $59.33.

Main Street Capital (NYSE:MAIN - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The financial services provider reported $0.99 earnings per share (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 company had revenue of $143.97 million for the quarter, compared to analyst estimates of $137.23 million. As a group, equities analysts expect that Main Street Capital will post 4.11 earnings per share for the current fiscal year.

Analyst Ratings Changes

MAIN has been the subject of a number of recent research reports. B. Riley increased their price objective on Main Street Capital from $60.00 to $64.00 and gave the company a "neutral" rating in a report on Monday, August 18th. Royal Bank Of Canada boosted their price target on shares of Main Street Capital from $52.00 to $67.00 and gave the stock an "outperform" rating in a research report on Thursday, August 28th. Wall Street Zen raised shares of Main Street Capital from a "sell" rating to a "hold" rating in a research note on Sunday, August 3rd. Zacks Research raised Main Street Capital from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, August 20th. Finally, Truist Financial raised their target price on Main Street Capital from $54.00 to $64.00 and gave the stock a "hold" rating in a research note on Monday, August 11th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Main Street Capital has an average rating of "Moderate Buy" and an average target price 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.