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, with an impressive dividend yield of 6.35%, set to be paid on September 26th.
• The company has a current payout ratio of 78.9%, indicating that while the dividend is currently covered by earnings, future declines in earnings could jeopardize this coverage.
• Shares of Main Street Capital recently opened at $66.12, with the stock showing a wide trading range over the past year, hitting a low of $47.00 and a high of $67.77.

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 paid 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 1.8%. The ex-dividend date is Wednesday, October 8th.

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 decline. 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

MAIN traded down $0.29 during midday trading on Friday, reaching $65.85. 1,944,787 shares of the company's stock were exchanged, compared to its average volume of 563,715. Main Street Capital has a 1-year low of $47.00 and a 1-year high of $67.77. The business's 50-day moving average price is $65.35 and its 200 day moving average price is $59.35. The stock has a market capitalization of $5.89 billion, a PE ratio of 10.85 and a beta of 0.88. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.09 and a quick ratio of 0.09.

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

Analysts Set New Price Targets

MAIN has been the topic of several analyst reports. Zacks Research raised Main Street Capital from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, August 20th. Truist Financial increased their price target on shares of Main Street Capital from $54.00 to $64.00 and gave the stock a "hold" rating in a research note on Monday, August 11th. B. Riley boosted their price target on shares of Main Street Capital from $60.00 to $64.00 and gave the stock a "neutral" rating in a research report on Monday, August 18th. Wall Street Zen raised shares of Main Street Capital from a "sell" rating to a "hold" rating in a research report on Sunday, August 3rd. Finally, Royal Bank Of Canada raised their price objective on Main Street Capital from $52.00 to $67.00 and gave the stock an "outperform" rating in a research note on Thursday, August 28th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $61.20.

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.