Main Street Capital Co. (NYSE:MAIN) Increases Dividend to $0.30 Per Share

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

NYSE:MAIN opened at $57.13 on Tuesday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.08 and a current ratio of 0.08. The company has a market cap of $5.06 billion, a PE ratio of 10.35 and a beta of 1.26. Main Street Capital has a 52-week low of $45.00 and a 52-week high of $63.32. The stock has a 50-day simple moving average of $59.83 and a 200 day simple moving average of $55.24.

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

Wall Street Analyst Weigh In

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

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Main Street Capital stock. Brighton Jones LLC purchased a new stake in Main Street Capital Co. (NYSE:MAIN) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. 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.

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.