Main Street Capital Co. (NYSE:MAIN) Declares Monthly Dividend of $0.25

Main Street Capital Co. (NYSE:MAIN - Get Free Report) declared a monthly dividend on Wednesday, May 8th, Wall Street Journal reports. Shareholders of record on Monday, July 8th will be paid a dividend of 0.245 per share by the financial services provider on Monday, July 15th. This represents a $2.94 annualized dividend and a yield of 5.81%. The ex-dividend date is Monday, July 8th. This is an increase from Main Street Capital's previous monthly dividend of $0.24.

Main Street Capital has raised its dividend payment by an average of 18.7% per year over the last three years and has raised its dividend every year for the last 4 years. Main Street Capital has a payout ratio of 73.3% indicating that its dividend is sufficiently covered by earnings. Analysts expect Main Street Capital to earn $3.90 per share next year, which means the company should continue to be able to cover its $2.88 annual dividend with an expected future payout ratio of 73.8%.

Main Street Capital Stock Down 0.1 %

NYSE:MAIN traded down $0.07 during midday trading on Wednesday, reaching $50.63. The company had a trading volume of 287,388 shares, compared to its average volume of 349,448. The stock's fifty day simple moving average is $47.37 and its 200-day simple moving average is $44.40. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.14. Main Street Capital has a 12-month low of $37.70 and a 12-month high of $51.08. The firm has a market capitalization of $4.30 billion, a price-to-earnings ratio of 9.70 and a beta of 1.25.

Main Street Capital (NYSE:MAIN - Get Free Report) last announced its quarterly earnings data on Thursday, February 22nd. The financial services provider reported $1.12 EPS for the quarter, beating analysts' consensus estimates of $1.06 by $0.06. The company had revenue of $129.31 million for the quarter, compared to the consensus estimate of $125.52 million. Main Street Capital had a net margin of 85.62% and a return on equity of 14.99%. On average, sell-side analysts anticipate that Main Street Capital will post 4.07 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently commented on MAIN. UBS Group lifted their target price on Main Street Capital from $43.00 to $45.00 and gave the stock a "neutral" rating in a research report on Friday, March 1st. Royal Bank of Canada boosted their price objective on Main Street Capital from $48.00 to $52.00 and gave the company an "outperform" rating in a research note on Tuesday, April 30th. Oppenheimer raised their target price on shares of Main Street Capital from $41.00 to $43.00 and gave the stock a "market perform" rating in a research report on Monday, February 26th. Finally, Truist Financial upped their price target on shares of Main Street Capital from $43.00 to $45.00 and gave the company a "hold" rating in a research report on Monday, February 26th. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Main Street Capital currently has a consensus rating of "Hold" and a consensus price target of $46.17.

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.