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

Main Street Capital Co. (NYSE:MAIN) declared a monthly dividend on Thursday, May 9th, Wall Street Journal reports. Stockholders of record on Friday, September 6th will be paid a dividend of 0.245 per share by the financial services provider on Friday, September 13th. This represents a $2.94 dividend on an annualized basis and a dividend yield of 5.79%. The ex-dividend date of this dividend is Friday, September 6th.

Main Street Capital has raised its dividend by an average of 18.7% annually over the last three years and has raised its dividend every year for the last 4 years. Main Street Capital has a dividend payout ratio of 73.3% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Main Street Capital to earn $3.90 per share next year, which means the company should continue to be able to cover its $2.88 annual dividend with an expected future payout ratio of 73.8%.

Main Street Capital Stock Up 0.3 %

Shares of NYSE MAIN traded up $0.13 during mid-day trading on Thursday, reaching $50.76. 213,821 shares of the company’s stock traded hands, compared to its average volume of 347,808. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.09 and a quick ratio of 0.09. The business has a 50-day simple moving average of $47.37 and a 200 day simple moving average of $44.40. Main Street Capital has a 1-year low of $37.70 and a 1-year high of $51.10. The stock has a market cap of $4.31 billion, a P/E ratio of 9.74 and a beta of 1.25.

Main Street Capital (NYSE:MAIN) last released its quarterly earnings results on Thursday, February 22nd. The financial services provider reported $1.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.06 by $0.06. Main Street Capital had a net margin of 85.62% and a return on equity of 14.99%. The company had revenue of $129.31 million for the quarter, compared to analyst estimates of $125.52 million. On average, analysts expect that Main Street Capital will post 4.07 EPS for the current fiscal year.

Wall Street Analyst Weigh In

MAIN has been the topic of several research reports. Oppenheimer boosted their price target on shares of Main Street Capital from $41.00 to $43.00 and gave the company a “market perform” rating in a research report on Monday, February 26th. UBS Group boosted their price target on shares of Main Street Capital from $43.00 to $45.00 and gave the company a “neutral” rating in a research report on Friday, March 1st. Truist Financial upped their price target on Main Street Capital from $43.00 to $45.00 and gave the company a “hold” rating in a research report on Monday, February 26th. Finally, Royal Bank of Canada increased their target price on shares of Main Street Capital from $48.00 to $52.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 30th. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $46.17.

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.