Main Street Capital Corporation Announces Quarterly Dividend of $0.30 (NYSE:MAIN)

Main Street Capital Corporation (NYSE:MAIN) announced a quarterly dividend on Tuesday, February 24th. Shareholders of record on Wednesday, April 8th will be given a dividend of 0.30 per share by the financial services provider on Wednesday, April 15th. This represents a c) dividend on an annualized basis and a yield of 2.1%. The ex-dividend date is Wednesday, April 8th.

Main Street Capital has raised its dividend by an average of 0.1%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 82.1% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. 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 $3.12 annual dividend with an expected future payout ratio of 76.8%.

Main Street Capital Stock Up 1.6%

Shares of NYSE MAIN traded up $0.93 during trading on Tuesday, hitting $57.71. 601,467 shares of the company traded hands, compared to its average volume of 550,143. The firm has a market capitalization of $5.17 billion, a price-to-earnings ratio of 9.57 and a beta of 0.80. The business’s fifty day moving average is $61.33 and its 200 day moving average is $61.41. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.06 and a current ratio of 0.06. Main Street Capital has a fifty-two week low of $47.00 and a fifty-two week high of $67.77.

Analysts Set New Price Targets

MAIN has been the subject of a number of recent research reports. Citizens Jmp set a $70.00 price target on shares of Main Street Capital in a research note on Monday, December 8th. Loop Capital upgraded shares of Main Street Capital to a “neutral” rating and set a $65.00 target price on the stock in a report on Thursday, January 15th. Citigroup reaffirmed an “outperform” rating on shares of Main Street Capital in a research report on Tuesday, January 27th. Wall Street Zen raised Main Street Capital from a “sell” rating to a “hold” rating in a report on Saturday, January 10th. Finally, B. Riley Financial dropped their target price on Main Street Capital from $64.00 to $60.00 and set a “neutral” rating on the stock in a report on Wednesday, November 12th. Four research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat, Main Street Capital currently has a consensus rating of “Hold” and a consensus price target of $61.71.

Main Street Capital Company Profile

Main Street Capital Corporation (NYSE: MAIN) is a publicly traded business development company that provides flexible debt and equity capital to lower middle market companies in the United States. Headquartered in Houston, Texas, Main Street Capital was formed in 2007 and operates under the Investment Company Act of 1940. The firm’s management services are provided by Main Street Capital Management, L.P., which focuses on identifying growing private companies with enterprise values typically between $10 million and $150 million.

Main Street Capital’s primary offerings include first-lien senior secured loans, second-lien loans, subordinated debt, and equity co-investments or minority equity positions.