Main Street Capital Co. (NYSE:MAIN) Announces Monthly Dividend of $0.25

Main Street Capital Co. (NYSE:MAIN) announced a monthly dividend on Wednesday, November 6th, Wall Street Journal reports. Stockholders of record on Wednesday, January 8th will be paid a dividend of 0.25 per share by the financial services provider on Wednesday, January 15th. This represents a $3.00 annualized dividend and a dividend yield of 5.82%. The ex-dividend date is Wednesday, January 8th. This is a boost from Main Street Capital’s previous monthly dividend of $0.25.

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 74.2% indicating that its dividend is sufficiently covered by earnings. Analysts expect Main Street Capital to earn $3.91 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 75.2%.

Main Street Capital Price Performance

Shares of Main Street Capital stock traded up $0.85 during trading on Wednesday, hitting $51.55. 565,899 shares of the company’s stock traded hands, compared to its average volume of 361,752. Main Street Capital has a twelve month low of $39.87 and a twelve month high of $52.62. The company has a market cap of $4.49 billion, a PE ratio of 9.48 and a beta of 1.29. The firm’s fifty day moving average price is $50.45 and its 200 day moving average price is $49.98. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.07 and a quick ratio of 0.07.

Main Street Capital (NYSE:MAIN) last announced its quarterly earnings results on Thursday, August 8th. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.01. Main Street Capital had a net margin of 87.58% and a return on equity of 14.06%. The firm had revenue of $132.15 million during the quarter, compared to the consensus estimate of $132.62 million. During the same period last year, the firm posted $1.06 EPS. Analysts forecast that Main Street Capital will post 4.12 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have weighed in on MAIN. Oppenheimer boosted their target price on shares of Main Street Capital from $43.00 to $44.00 and gave the stock a “market perform” rating in a research note on Tuesday, August 13th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $52.00 target price on shares of Main Street Capital in a research note on Wednesday, August 14th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $48.40.

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.