Main Street Capital Corporation (NYSE:MAIN) Announces Monthly Dividend of $0.26

Main Street Capital Corporation (NYSE:MAIN) announced a monthly dividend on Monday, November 3rd. Stockholders of record on Friday, February 6th will be given a dividend of 0.26 per share by the financial services provider on Friday, February 13th. This represents a c) dividend on an annualized basis and a dividend yield of 5.5%. The ex-dividend date of this dividend is Friday, February 6th. This is a 2.0% increase from Main Street Capital’s previous monthly dividend of $0.26.

Main Street Capital has increased its dividend payment by an average of 0.1%per year over the last three years and has increased its dividend annually for the last 4 consecutive years. Main Street Capital has a dividend payout ratio of 80.5% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. 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 $3.06 annual dividend with an expected future payout ratio of 75.4%.

Main Street Capital Stock Down 1.4%

Shares of Main Street Capital stock traded down $0.79 during trading on Wednesday, reaching $56.38. The company’s stock had a trading volume of 119,683 shares, compared to its average volume of 560,099. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.12. The company has a market cap of $5.04 billion, a price-to-earnings ratio of 9.29 and a beta of 0.84. Main Street Capital has a 1-year low of $47.00 and a 1-year high of $67.77. The company has a 50-day simple moving average of $62.00 and a two-hundred day simple moving average of $60.41.

Main Street Capital (NYSE:MAIN) 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%. As a group, equities analysts forecast that Main Street Capital will post 4.11 earnings per share for the current year.

Analyst Ratings Changes

MAIN has been the subject of several research reports. B. Riley lifted their price objective on shares of Main Street Capital from $60.00 to $64.00 and gave the stock a “neutral” rating in a research note on Monday, August 18th. Zacks Research downgraded shares of Main Street Capital from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 10th. UBS Group restated a “neutral” rating and set a $58.00 target price (up from $56.00) on shares of Main Street Capital in a research report on Wednesday, July 16th. Truist Financial decreased their target price on shares of Main Street Capital from $64.00 to $60.00 and set a “hold” rating for the company in a research report on Wednesday, October 15th. Finally, Royal Bank Of Canada boosted their price objective on Main Street Capital from $52.00 to $67.00 and gave the company an “outperform” rating in a report on Thursday, August 28th. Two investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $60.40.

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.