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

Key Points

• Main Street Capital Corporation announced a quarterly dividend of $0.30 per share, payable on October 15th, which yields approximately 1.9% based on current stock prices.
• The company has a payout ratio of 78.9%, indicating earnings currently cover the dividend, with forecasts suggesting an expected payout ratio of 73.9% next year based on projected earnings of $4.06 per share.
• Main Street Capital's stock opened at $62.98, and the company's shares have experienced a recent decline of 1.5%, with a market capitalization of $5.63 billion.

Main Street Capital Corporation (NYSE:MAIN - Get Free Report) declared a quarterly dividend on Monday, August 4th, investing.com reports. Shareholders 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 1.9%. The ex-dividend date of this dividend is Wednesday, October 8th.

Main Street Capital has a 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 tumble. 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 1.5%

Main Street Capital stock opened at $62.98 on Monday. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.09 and a quick ratio of 0.09. The stock has a market capitalization of $5.63 billion, a price-to-earnings ratio of 10.38 and a beta of 0.87. Main Street Capital has a 1-year low of $47.00 and a 1-year high of $67.77. The business has a fifty day moving average price of $65.14 and a 200-day moving average price of $59.81.

Main Street Capital (NYSE:MAIN - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The financial services provider reported $0.99 earnings per share for the quarter, hitting analysts' consensus estimates of $0.99. The firm had revenue of $143.97 million during the quarter, compared to analysts' expectations of $137.23 million. Main Street Capital had a return on equity of 12.70% and a net margin of 96.16%. Equities research analysts forecast that Main Street Capital will post 4.11 EPS for the current fiscal year.

Insider Buying and Selling at Main Street Capital

In other Main Street Capital news, Director Nicholas Meserve sold 14,000 shares of Main Street Capital stock in a transaction dated 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 owned 82,383 shares in the company, valued at approximately $5,532,018.45. This trade represents a 14.53% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 4.00% of the company's stock.

Hedge Funds Weigh In On Main Street Capital

A number of institutional investors have recently modified their holdings of the stock. Legal & General Group Plc raised its stake in shares of Main Street Capital by 3.7% during the 2nd quarter. Legal & General Group Plc now owns 675,495 shares of the financial services provider's stock valued at $39,918,000 after buying an additional 24,248 shares during the last quarter. Jones Financial Companies Lllp increased its stake in shares of Main Street Capital by 45,123.0% in 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. increased its stake in shares of Main Street Capital by 282.5% in 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. Adell Harriman & Carpenter Inc. increased its stake in shares of Main Street Capital by 1.5% in the 2nd quarter. Adell Harriman & Carpenter Inc. now owns 454,495 shares of the financial services provider's stock valued at $26,861,000 after purchasing an additional 6,853 shares in the last quarter. Finally, Sound Income Strategies LLC increased its stake in shares of Main Street Capital by 3.2% in the 2nd quarter. Sound Income Strategies LLC now owns 345,827 shares of the financial services provider's stock valued at $20,438,000 after purchasing an additional 10,819 shares in the last quarter. Hedge funds and other institutional investors own 20.31% of the company's stock.

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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