Main Street Capital Corporation to Issue Quarterly Dividend of $0.30 (NYSE:MAIN)

Main Street Capital Corporation (NYSE:MAIN) announced a quarterly dividend on Tuesday, February 24th. Shareholders of record on Wednesday, April 8th will be given a dividend of 0.30 per share by the financial services provider on Wednesday, April 15th. This represents a c) annualized dividend and a yield of 2.1%. The ex-dividend date is Wednesday, April 8th.

Main Street Capital has raised its dividend payment by an average of 0.1%per year over the last three years and has increased its dividend every year for the last 4 years. Main Street Capital has a dividend payout ratio of 82.1% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities 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 $3.12 annual dividend with an expected future payout ratio of 76.8%.

Main Street Capital Stock Performance

NYSE:MAIN traded up $0.93 on Tuesday, reaching $57.71. 601,467 shares of the company’s stock were exchanged, compared to its average volume of 550,143. The firm has a market cap of $5.17 billion, a price-to-earnings ratio of 9.57 and a beta of 0.80. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.06 and a quick ratio of 0.06. The stock has a fifty day simple moving average of $61.33 and a 200-day simple moving average of $61.41. Main Street Capital has a 52 week low of $47.00 and a 52 week high of $67.77.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Van ECK Associates Corp boosted its holdings in Main Street Capital by 100.9% during the 3rd quarter. Van ECK Associates Corp now owns 2,448,201 shares of the financial services provider’s stock valued at $155,681,000 after acquiring an additional 1,229,863 shares during the period. Corient Private Wealth LLC increased its stake in Main Street Capital by 3,880.3% in the 4th quarter. Corient Private Wealth LLC now owns 890,361 shares of the financial services provider’s stock worth $53,768,000 after purchasing an additional 867,992 shares during the period. UBS Group AG lifted its position in Main Street Capital by 160.7% in the third quarter. UBS Group AG now owns 866,884 shares of the financial services provider’s stock valued at $55,125,000 after purchasing an additional 534,374 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in Main Street Capital by 637.3% in the fourth quarter. Goldman Sachs Group Inc. now owns 356,799 shares of the financial services provider’s stock valued at $21,547,000 after purchasing an additional 308,404 shares during the last quarter. Finally, Childress Capital Advisors LLC boosted its stake in shares of Main Street Capital by 165.2% during the fourth quarter. Childress Capital Advisors LLC now owns 293,733 shares of the financial services provider’s stock valued at $17,739,000 after purchasing an additional 182,973 shares during the period. 20.31% of the stock is currently owned by hedge funds and other institutional investors.

About Main Street Capital

Main Street Capital Corporation (NYSE: MAIN) is a publicly traded business development company that provides flexible debt and equity capital to lower middle market companies in the United States. Headquartered in Houston, Texas, Main Street Capital was formed in 2007 and operates under the Investment Company Act of 1940. The firm’s management services are provided by Main Street Capital Management, L.P., which focuses on identifying growing private companies with enterprise values typically between $10 million and $150 million.

Main Street Capital’s primary offerings include first-lien senior secured loans, second-lien loans, subordinated debt, and equity co-investments or minority equity positions.