Main Street Capital Co. (NYSE:MAIN) Raises Dividend to $0.30 Per Share

Main Street Capital Co. (NYSE:MAIN) declared a dividend on Tuesday, March 18th, investing.com reports. Stockholders of record on Friday, March 21st will be paid a dividend of 0.30 per share by the financial services provider on Thursday, March 27th. This represents a dividend yield of 7.24%. The ex-dividend date of this dividend is Thursday, March 20th. This is a 20.0% increase from Main Street Capital’s previous dividend of $0.25.

Main Street Capital has raised its dividend by an average of 8.6% annually over the last three years. Main Street Capital has a dividend payout ratio of 76.3% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities 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 $3.00 annual dividend with an expected future payout ratio of 73.9%.

Main Street Capital Stock Performance

NYSE MAIN traded up $0.45 on Tuesday, hitting $57.62. 328,478 shares of the company’s stock were exchanged, compared to its average volume of 409,641. The firm has a market cap of $5.10 billion, a price-to-earnings ratio of 10.44 and a beta of 1.26. The firm’s 50-day moving average price is $59.83 and its two-hundred day moving average price is $55.24. Main Street Capital has a fifty-two week low of $45.00 and a fifty-two week high of $63.32. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.08 and a quick ratio of 0.08.

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 (EPS) 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 net margin of 89.25% and a return on equity of 13.83%. On average, research analysts expect that Main Street Capital will post 4.11 EPS for the current year.

Analyst Ratings Changes

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

Institutional Investors Weigh In On Main Street Capital

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

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.