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

Main Street Capital Co. (NYSE:MAIN) announced a dividend on Tuesday, March 18th, investing.com reports. Stockholders 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 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 increased its dividend payment 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 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 Up 0.8 %

NYSE:MAIN traded up $0.45 during mid-day trading on Tuesday, reaching $57.62. The stock had a trading volume of 328,478 shares, compared to its average volume of 409,641. The stock has a market cap of $5.10 billion, a P/E ratio of 10.44 and a beta of 1.26. The business’s 50 day moving average is $59.83 and its 200 day moving average is $55.24. 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 has a fifty-two week low of $45.00 and a fifty-two week high of $63.32.

Main Street Capital (NYSE:MAIN) last released 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 business had revenue of $140.44 million for the quarter, compared to the consensus estimate of $141.40 million. Main Street Capital had a net margin of 89.25% and a return on equity of 13.83%. As a group, sell-side analysts predict that Main Street Capital will post 4.11 earnings per share for the current year.

Analysts Set New Price Targets

Separately, Truist Financial boosted their price target on 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 Inflows and Outflows

A hedge fund recently bought a new stake in Main Street Capital stock. Brighton Jones LLC bought a new position in shares of Main Street Capital Co. (NYSE:MAIN) during the fourth quarter, according to its most recent Form 13F filing 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 owned by institutional investors.

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.