Main Street Capital Co. (MAIN) to Issue Monthly Dividend of $0.30 on April 15th

Main Street Capital Co. (NYSE:MAIN) declared a monthly dividend on Monday, February 24th, NASDAQ Dividends reports. Stockholders of record on Tuesday, April 8th will be given a dividend of 0.30 per share by the financial services provider on Tuesday, April 15th. This represents a $3.60 annualized dividend and a dividend yield of 6.98%. The ex-dividend date of this dividend is Tuesday, April 8th. This is a 20.0% increase from Main Street Capital’s previous monthly dividend of $0.25.

Main Street Capital has raised its dividend payment by an average of 8.6% per year 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. 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

MAIN opened at $51.55 on Friday. 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 1 year low of $45.00 and a 1 year high of $63.32. The stock’s 50 day simple moving average is $59.18 and its 200 day simple moving average is $55.96. The firm has a market cap of $4.57 billion, a price-to-earnings ratio of 9.34 and a beta of 0.98.

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

Wall Street Analysts Forecast Growth

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

Insider Transactions at Main Street Capital

In other Main Street Capital news, CEO Dwayne L. Hyzak sold 120,000 shares of the stock in a transaction on Wednesday, March 26th. The stock was sold at an average price of $58.05, for a total value of $6,966,000.00. Following the completion of the transaction, the chief executive officer now owns 402,371 shares in the company, valued at approximately $23,357,636.55. This represents a 22.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider David L. Magdol sold 100,000 shares of the business’s stock in a transaction on Wednesday, March 26th. The shares were sold at an average price of $58.05, for a total transaction of $5,805,000.00. Following the sale, the insider now owns 377,182 shares in the company, valued at approximately $21,895,415.10. This trade represents a 20.96 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 4.00% of the company’s stock.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Main Street Capital stock. Brighton Jones LLC bought 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 (SEC). The firm bought 5,185 shares of the financial services provider’s stock, valued at approximately $304,000. Institutional investors own 20.31% of the company’s stock.

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.