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

Main Street Capital Co. (NYSE:MAIN) announced a dividend on Monday, February 24th, NASDAQ Dividends reports. Stockholders of record on Thursday, March 20th will be paid a dividend of 0.30 per share by the financial services provider on Thursday, March 27th. The ex-dividend date of this dividend is Thursday, March 20th. This is a positive change from Main Street Capital’s previous dividend of $0.25.

Main Street Capital has raised its dividend by an average of 8.6% annually over the last three years. Main Street Capital has a dividend payout ratio of 77.3% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. 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 down $0.43 during mid-day trading on Wednesday, hitting $59.63. The stock had a trading volume of 417,605 shares, compared to its average volume of 513,794. Main Street Capital has a twelve month low of $45.00 and a twelve month high of $63.31. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.08 and a quick ratio of 0.08. The firm’s 50 day moving average is $59.76 and its 200 day moving average is $54.38. The stock has a market capitalization of $5.26 billion, a price-to-earnings ratio of 10.80 and a beta of 1.28.

Wall Street Analyst Weigh In

Separately, B. Riley increased their target price on shares of Main Street Capital from $49.00 to $51.00 and gave the company a “neutral” rating in a research report on Monday, November 11th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, Main Street Capital presently has an average rating of “Hold” and a consensus target price of $48.80.

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.