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

Main Street Capital Co. (NYSE:MAIN) declared a dividend on Thursday, September 19th, investing.com reports. Stockholders of record on Monday, September 23rd will be given a dividend of 0.30 per share by the financial services provider on Friday, September 27th. This represents a dividend yield of 7.66%. The ex-dividend date of this dividend is Friday, September 20th.

Main Street Capital has increased its dividend by an average of 18.7% annually 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 Trading Up 0.4 %

Shares of MAIN stock traded up $0.21 on Thursday, reaching $50.38. 427,504 shares of the company’s stock were exchanged, compared to its average volume of 366,013. The company’s fifty day simple moving average is $49.71 and its 200 day simple moving average is $48.93. Main Street Capital has a 52 week low of $37.70 and a 52 week high of $52.39. The company has a current ratio of 0.07, a quick ratio of 0.07 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $4.32 billion, a PE ratio of 9.19 and a beta of 1.30.

Main Street Capital (NYSE:MAIN) last released its earnings results on Thursday, August 8th. The financial services provider reported $1.01 earnings per share for the quarter, hitting the consensus estimate of $1.01. The business had revenue of $132.15 million during the quarter, compared to the consensus estimate 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 last year, the company earned $1.06 earnings per share. As a group, analysts forecast that Main Street Capital will post 4.13 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on MAIN. Oppenheimer boosted their price target on Main Street Capital from $43.00 to $44.00 and gave the company a “market perform” rating in a report on Tuesday, August 13th. Royal Bank of Canada reissued an “outperform” rating and set a $52.00 price target on shares of Main Street Capital in a research report on Wednesday, August 14th. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $48.40.

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.