Main Street Capital Co. (MAIN) to Issue Monthly Dividend of $0.25 on July 15th

Main Street Capital Co. (NYSE:MAIN) declared a monthly dividend on Wednesday, May 8th, Wall Street Journal reports. Shareholders of record on Monday, July 8th will be given a dividend of 0.245 per share by the financial services provider on Monday, July 15th. This represents a $2.94 dividend on an annualized basis and a yield of 5.79%. The ex-dividend date is Monday, July 8th. This is an increase from Main Street Capital’s previous monthly dividend of $0.24.

Main Street Capital has raised its dividend by an average of 18.7% per year over the last three years and has increased its dividend annually for the last 4 consecutive years. Main Street Capital has a payout ratio of 73.3% meaning 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 Trading Up 0.2 %

NYSE:MAIN opened at $50.74 on Friday. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.14. The business’s 50 day moving average is $47.47 and its two-hundred day moving average is $44.44. Main Street Capital has a 52 week low of $37.70 and a 52 week high of $51.10. The company has a market cap of $4.31 billion, a PE ratio of 9.72 and a beta of 1.25.

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

Wall Street Analysts Forecast Growth

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