Main Street Capital Co. (MAIN) to Issue Monthly Dividend of $0.25 on October 15th

Main Street Capital Co. (NYSE:MAIN) announced a monthly dividend on Wednesday, August 7th, Wall Street Journal reports. Shareholders of record on Tuesday, October 8th will be given a dividend of 0.245 per share by the financial services provider on Tuesday, October 15th. This represents a $2.94 annualized dividend and a yield of 5.76%. The ex-dividend date of this dividend is Tuesday, October 8th.

Main Street Capital has raised its dividend payment by an average of 18.7% per year over the last three years. Main Street Capital has a payout ratio of 74.4% indicating that its dividend is sufficiently covered by earnings. Analysts expect Main Street Capital to earn $3.98 per share next year, which means the company should continue to be able to cover its $2.94 annual dividend with an expected future payout ratio of 73.9%.

Main Street Capital Stock Performance

Shares of MAIN stock opened at $51.02 on Friday. The stock has a market cap of $4.37 billion, a PE ratio of 9.31 and a beta of 1.30. Main Street Capital has a 52-week low of $37.70 and a 52-week high of $52.39. The business has a 50-day simple moving average of $49.57 and a 200-day simple moving average of $49.28. The company has a quick ratio of 0.07, a current ratio of 0.07 and a debt-to-equity ratio of 0.11.

Main Street Capital (NYSE:MAIN) last released its quarterly earnings data on Thursday, August 8th. The financial services provider reported $1.01 EPS for the quarter, hitting the consensus estimate of $1.01. The business had revenue of $132.15 million for the quarter, compared to analyst estimates of $132.62 million. Main Street Capital had a return on equity of 14.06% and a net margin of 87.58%. During the same quarter in the prior year, the firm posted $1.06 EPS. On average, equities analysts expect that Main Street Capital will post 4.13 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on MAIN shares. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $52.00 price objective on shares of Main Street Capital in a report on Wednesday, August 14th. Oppenheimer lifted their price target on Main Street Capital from $43.00 to $44.00 and gave the company a “market perform” rating in a research note on Tuesday, August 13th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, Main Street Capital has an average rating of “Hold” and a consensus price target of $48.40.

Main Street Capital Company Profile

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.