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

Main Street Capital Co. (NYSE:MAIN - Get Free Report) announced a dividend on Wednesday, March 19th, 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 7.11%. The ex-dividend date is Thursday, March 20th. This is a 20.0% increase from Main Street Capital's previous dividend of $0.25.

Main Street Capital has raised its dividend by an average of 8.6% per year over the last three years. Main Street Capital has a payout ratio of 76.3% indicating that its dividend is currently covered by earnings, but may not be in the future if the company's earnings decline. 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

MAIN stock traded down $0.16 during trading on Friday, hitting $57.62. The stock had a trading volume of 1,006,923 shares, compared to its average volume of 412,744. The stock has a market cap of $5.10 billion, a price-to-earnings ratio of 10.44 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 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's 50 day moving average price is $59.80 and its two-hundred day moving average price is $55.43.

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

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Hedge Funds Weigh In On Main Street Capital

A hedge fund recently bought a new stake in Main Street Capital stock. Brighton Jones LLC bought a new stake in Main Street Capital Co. (NYSE:MAIN - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 5,185 shares of the financial services provider's stock, valued at approximately $304,000. 20.31% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Truist Financial upped their price target on shares of Main Street Capital from $52.00 to $62.00 and gave the stock a "hold" rating in a research report on Monday, March 3rd.

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.