Main Street Capital Co. (NYSE:MAIN) Announces Dividend of $0.30

Main Street Capital Co. (NYSE:MAIN) declared a dividend on Wednesday, March 19th, investing.com reports. Shareholders of record on Friday, March 21st will be given a dividend of 0.30 per share by the financial services provider on Thursday, March 27th. This represents a yield of 7.11%. The ex-dividend date is Thursday, March 20th. This is a 20.0% increase from Main Street Capital’s previous dividend of $0.25.

Main Street Capital has increased its dividend by an average of 8.6% per year over the last three years. Main Street Capital has a dividend payout ratio of 76.3% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. 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 Trading Up 1.0 %

Shares of MAIN traded up $0.58 during trading on Wednesday, reaching $58.21. 451,034 shares of the company traded hands, compared to its average volume of 409,842. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.13. The stock has a market cap of $5.15 billion, a PE ratio of 10.55 and a beta of 1.26. The stock has a 50-day simple moving average of $59.81 and a 200-day simple moving average of $55.30. Main Street Capital has a twelve month low of $45.00 and a twelve month high of $63.32.

Main Street Capital (NYSE:MAIN) last posted its quarterly earnings results on Thursday, February 27th. The financial services provider reported $1.02 earnings per share for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.06). The company had revenue of $140.44 million for the quarter, compared to analyst estimates of $141.40 million. Main Street Capital had a return on equity of 13.83% and a net margin of 89.25%. On average, analysts anticipate that Main Street Capital will post 4.11 earnings per share for the current year.

Institutional Investors Weigh In On Main Street Capital

A hedge fund recently bought a new stake in Main Street Capital stock. Brighton Jones LLC purchased a new stake in Main Street Capital Co. (NYSE:MAIN) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 5,185 shares of the financial services provider’s stock, valued at approximately $304,000. 20.31% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Truist Financial raised their target price on Main Street Capital from $52.00 to $62.00 and gave the company a “hold” rating in a research note on Monday, March 3rd.

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.