Main Street Capital Co. (NYSE:MAIN) Declares 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 given a dividend of 0.30 per share by the financial services provider on Thursday, March 27th. This represents a yield of 7.24%. The ex-dividend date 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 payment 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 tumble. 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 Price 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 stock has a 50-day moving average of $59.83 and a 200-day moving average of $55.24. The company has a current ratio of 0.08, a quick 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 stock has a market cap of $5.10 billion, a price-to-earnings ratio of 10.44 and a beta of 1.26.

Main Street Capital (NYSE:MAIN) last announced its quarterly earnings results on Thursday, February 27th. The financial services provider reported $1.02 EPS for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.06). Main Street Capital had a net margin of 89.25% and a return on equity of 13.83%. The firm had revenue of $140.44 million during the quarter, compared to the consensus estimate of $141.40 million. Analysts expect that Main Street Capital will post 4.11 earnings per share for the current year.

Institutional Trading of Main Street Capital

An institutional investor recently bought a new position in Main Street Capital stock. Brighton Jones LLC purchased a new position in shares of Main Street Capital Co. (NYSE:MAIN) in the fourth quarter, according to its most recent filing with the SEC. The firm purchased 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 and hedge funds.

Wall Street Analysts Forecast Growth

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

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.