Main Street Capital Co. (MAIN) to Issue Monthly Dividend of $0.25 on September 13th

Main Street Capital Co. (NYSE:MAIN) announced a monthly dividend on Thursday, May 9th, Wall Street Journal reports. Stockholders of record on Friday, September 6th will be paid a dividend of 0.245 per share by the financial services provider on Friday, September 13th. This represents a $2.94 annualized dividend and a dividend yield of 5.93%. The ex-dividend date is Friday, September 6th.

Main Street Capital has raised its dividend payment by an average of 18.7% per year over the last three years. Main Street Capital has a dividend payout ratio of 73.5% meaning its dividend is sufficiently covered by earnings. Analysts expect Main Street Capital to earn $3.98 per share next year, which means the company should continue to be able to cover its $2.94 annual dividend with an expected future payout ratio of 73.9%.

Main Street Capital Price Performance

Shares of MAIN opened at $49.58 on Wednesday. The firm has a fifty day moving average price of $50.13 and a 200 day moving average price of $48.64. The stock has a market cap of $4.25 billion, a PE ratio of 9.05 and a beta of 1.29. Main Street Capital has a 1-year low of $37.70 and a 1-year high of $52.39. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.07 and a quick ratio of 0.07.

Main Street Capital (NYSE:MAIN) last announced its earnings results on Thursday, August 8th. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.01. The firm had revenue of $132.15 million during the quarter, compared to analysts’ expectations of $132.62 million. Main Street Capital had a return on equity of 14.41% and a net margin of 87.58%. During the same period in the prior year, the firm earned $1.06 EPS. As a group, sell-side analysts anticipate that Main Street Capital will post 4.13 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. B. Riley increased their target price on shares of Main Street Capital from $47.00 to $49.00 and gave the stock a “neutral” rating in a research note on Monday, May 13th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $52.00 target price on shares of Main Street Capital in a report on Wednesday, August 14th. Oppenheimer boosted their price objective on shares of Main Street Capital from $43.00 to $44.00 and gave the stock a “market perform” rating in a research report on Tuesday, August 13th. Finally, Truist Financial lifted their price objective on Main Street Capital from $45.00 to $52.00 and gave the stock a “hold” rating in a research report on Monday, May 13th. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, Main Street Capital currently has an average rating of “Hold” and a consensus price target of $48.40.

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.