Main Street Capital Co. (NYSE:MAIN) Announces Dividend Increase – $0.30 Per Share

Main Street Capital Co. (NYSE:MAIN) declared a dividend on Tuesday, March 18th, investing.com reports. Stockholders 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 dividend 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. 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 Trading Up 1.5 %

Shares of NYSE:MAIN opened at $57.13 on Tuesday. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $5.06 billion, a PE ratio of 10.35 and a beta of 1.26. Main Street Capital has a 1 year low of $45.00 and a 1 year high of $63.32. The firm has a fifty day moving average price of $59.83 and a 200 day moving average price 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 (EPS) 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 the consensus estimate of $141.40 million. Analysts expect that Main Street Capital will post 4.11 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, Truist Financial lifted their price target on shares of Main Street Capital from $52.00 to $62.00 and gave the company a “hold” rating in a research report 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 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 Securities and Exchange Commission (SEC). The fund purchased 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.

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.