Main Street Capital Corporation (NYSE:MAIN) Increases Dividend to $0.26 Per Share

Main Street Capital Corporation (NYSE:MAIN) announced a monthly dividend on Monday, November 3rd. Investors of record on Friday, February 6th will be paid a dividend of 0.26 per share by the financial services provider on Friday, February 13th. This represents a c) annualized dividend and a yield of 5.5%. The ex-dividend date of this dividend is Friday, February 6th. This is a 2.0% increase from Main Street Capital’s previous monthly dividend of $0.26.

Main Street Capital has increased its dividend by an average of 0.1%per year over the last three years and has increased its dividend annually for the last 4 consecutive years. Main Street Capital has a dividend payout ratio of 80.5% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. 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 $3.06 annual dividend with an expected future payout ratio of 75.4%.

Main Street Capital Price Performance

NYSE MAIN traded down $0.79 during trading hours on Wednesday, hitting $56.38. 119,683 shares of the company’s stock traded hands, compared to its average volume of 560,099. Main Street Capital has a 52-week low of $47.00 and a 52-week high of $67.77. The company has a market capitalization of $5.04 billion, a PE ratio of 9.29 and a beta of 0.84. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.09 and a quick ratio of 0.09. The firm’s 50-day moving average is $62.00 and its 200-day moving average is $60.41.

Main Street Capital (NYSE:MAIN) last announced its quarterly earnings data on Thursday, August 7th. The financial services provider reported $0.99 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.99. Main Street Capital had a net margin of 96.16% and a return on equity of 12.70%. The company had revenue of $143.97 million during the quarter, compared to analysts’ expectations of $137.23 million. Equities analysts forecast that Main Street Capital will post 4.11 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Truist Financial decreased their price objective on Main Street Capital from $64.00 to $60.00 and set a “hold” rating on the stock in a report on Wednesday, October 15th. B. Riley upped their price objective on Main Street Capital from $60.00 to $64.00 and gave the company a “neutral” rating in a report on Monday, August 18th. Wall Street Zen upgraded Main Street Capital from a “sell” rating to a “hold” rating in a report on Sunday, August 3rd. Weiss Ratings reiterated a “buy (b+)” rating on shares of Main Street Capital in a report on Tuesday, October 14th. Finally, Royal Bank Of Canada upped their price objective on Main Street Capital from $52.00 to $67.00 and gave the company an “outperform” rating in a report on Thursday, August 28th. Two analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $60.40.

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.