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

Main Street Capital Co. (NYSE:MAIN) announced a dividend on Tuesday, March 18th, investing.com reports. Shareholders 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 increased its dividend by an average of 8.6% annually over the last three years. Main Street Capital has a payout ratio of 76.3% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. 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 Price Performance

Shares of MAIN traded up $0.45 during mid-day trading on Tuesday, reaching $57.62. 328,478 shares of the company’s stock were exchanged, compared to its average volume of 409,641. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.13. Main Street Capital has a 52-week low of $45.00 and a 52-week high of $63.32. The company has a market cap of $5.10 billion, a price-to-earnings ratio of 10.44 and a beta of 1.26. The company has a 50-day simple moving average of $59.83 and a two-hundred day simple moving average of $55.24.

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 the consensus estimate of $1.08 by ($0.06). Main Street Capital had a return on equity of 13.83% and a net margin of 89.25%. The company had revenue of $140.44 million for the quarter, compared to analysts’ expectations of $141.40 million. On average, sell-side analysts predict that Main Street Capital will post 4.11 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On Main Street Capital

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

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.