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

Main Street Capital Co. (NYSE:MAIN - Get Free Report) announced a monthly dividend on Monday, February 24th, investing.com reports. Shareholders of record on Tuesday, April 8th will be given a dividend of 0.30 per share by the financial services provider on Tuesday, April 15th. This represents a $3.60 annualized dividend and a yield of 6.25%. The ex-dividend date of this dividend is Tuesday, April 8th. This is a 20.0% increase from Main Street Capital's previous monthly dividend of $0.25.

Main Street Capital has increased its dividend payment by an average of 8.6% per year over the last three years. Main Street Capital has a dividend 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 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 Trading Down 0.3 %

Main Street Capital stock traded down $0.16 during trading hours on Friday, hitting $57.62. The company had a trading volume of 1,006,923 shares, compared to its average volume of 412,105. The firm has a market cap of $5.10 billion, a P/E ratio of 10.44 and a beta of 1.26. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.08 and a current ratio of 0.08. Main Street Capital has a 1 year low of $45.00 and a 1 year high of $63.32. The company has a 50-day moving average price of $59.80 and a two-hundred day moving average price of $55.39.

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Main Street Capital (NYSE:MAIN - Get Free Report) last posted its quarterly earnings results on Thursday, February 27th. The financial services provider reported $1.02 EPS for the quarter, missing the consensus estimate 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 the consensus estimate of $141.40 million. On average, sell-side analysts anticipate that Main Street Capital will post 4.11 earnings per share for the current year.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Main Street Capital stock. Brighton Jones LLC acquired a new position in shares of Main Street Capital Co. (NYSE:MAIN - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 5,185 shares of the financial services provider's stock, valued at approximately $304,000. Institutional investors own 20.31% of the company's stock.

Analyst Ratings Changes

Separately, Truist Financial boosted their price target on shares of Main Street Capital from $52.00 to $62.00 and gave the company a "hold" rating in a 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.