Main Street Capital Corporation (MAIN) to Issue Monthly Dividend of $0.27 on January 15th

Main Street Capital Corporation (NYSE:MAIN) announced a monthly dividend on Monday, November 2nd. Shareholders of record on Friday, January 8th will be paid a dividend of $0.27 per share by the financial services provider on Friday, January 15th. This represents a $3.24 annualized dividend and a yield of 5.7%. The ex-dividend date of this dividend is Friday, January 8th. This is a 1.9% increase from Main Street Capital’s previous monthly dividend of $0.2650.

Main Street Capital has increased its dividend payment by an average of 0.1% annually over the last three years and has increased its dividend every year for the last 4 years. Main Street Capital has a payout ratio of 83.7% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Research analysts expect Main Street Capital to earn $3.81 per share next year, which means the company should continue to be able to cover its $3.18 annual dividend with an expected future payout ratio of 83.5%.

Main Street Capital Stock Performance

Shares of MAIN stock opened at $56.39 on Wednesday. The company has a market cap of $5.27 billion, a P/E ratio of 14.22 and a beta of 0.73. Main Street Capital has a 12 month low of $48.95 and a 12 month high of $65.23. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.11. The firm has a fifty day moving average price of $55.61 and a 200 day moving average price of $55.51.

Main Street Capital (NYSE:MAIN) last issued its quarterly earnings data on Thursday, August 6th. The financial services provider reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.96 by $0.01. Main Street Capital had a net margin of 78.49% and a return on equity of 11.80%. The business had revenue of $327.56 million during the quarter, compared to the consensus estimate of $144.59 million. Sell-side analysts predict that Main Street Capital will post 3.75 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. UBS Group decreased their target price on shares of Main Street Capital from $62.00 to $57.00 and set a “neutral” rating for the company in a research note on Friday, October 9th. Wall Street Zen lowered shares of Main Street Capital from a “hold” rating to a “sell” rating in a research report on Sunday, October 11th. Zacks Research upgraded shares of Main Street Capital from a “strong sell” rating to a “hold” rating in a report on Monday, July 20th. Citigroup reissued a “market outperform” rating on shares of Main Street Capital in a research note on Monday, August 10th. Finally, Weiss Ratings raised shares of Main Street Capital from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, September 3rd. Five investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, Main Street Capital presently has an average rating of “Hold” and a consensus price target of $61.00.

Main Street Capital Company Profile

Main Street Capital Corporation is a business development company that provides customized debt and equity financing to privately held businesses. The company primarily invests in lower middle-market companies and also makes private loan investments in larger middle-market businesses.

Its investment activities include first-lien, second-lien and subordinated debt, as well as equity investments and other securities. Main Street seeks to provide flexible, long-term capital to support acquisitions, recapitalizations, growth initiatives and other corporate financing needs.