Main Street Capital Co. (NYSE:MAIN) Declares Monthly Dividend of $0.25

Main Street Capital Co. (NYSE:MAIN) declared a monthly dividend on Wednesday, May 8th, Wall Street Journal reports. Investors of record on Monday, July 8th will be paid a dividend of 0.245 per share by the financial services provider on Monday, July 15th. This represents a $2.94 dividend on an annualized basis and a yield of 5.80%. The ex-dividend date of this dividend is Monday, July 8th. This is a boost from Main Street Capital’s previous monthly dividend of $0.24.

Main Street Capital has raised its dividend by an average of 18.7% per year over the last three years. Main Street Capital has a dividend payout ratio of 73.1% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Main Street Capital to earn $3.90 per share next year, which means the company should continue to be able to cover its $2.88 annual dividend with an expected future payout ratio of 73.8%.

Main Street Capital Stock Performance

Main Street Capital stock traded down $0.02 during mid-day trading on Wednesday, hitting $50.68. 254,254 shares of the company’s stock traded hands, compared to its average volume of 348,910. Main Street Capital has a one year low of $37.70 and a one year high of $51.08. The company has a market cap of $4.31 billion, a PE ratio of 9.70 and a beta of 1.25. The firm has a 50 day moving average price of $47.26 and a 200 day moving average price of $44.35. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.14.

Main Street Capital (NYSE:MAIN) last announced its earnings results on Thursday, February 22nd. The financial services provider reported $1.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.06. The firm had revenue of $129.31 million during the quarter, compared to analyst estimates of $125.52 million. Main Street Capital had a net margin of 85.62% and a return on equity of 14.99%. On average, equities analysts forecast that Main Street Capital will post 4.07 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Oppenheimer upped their price objective on Main Street Capital from $41.00 to $43.00 and gave the company a “market perform” rating in a report on Monday, February 26th. Truist Financial raised their price objective on shares of Main Street Capital from $43.00 to $45.00 and gave the company a “hold” rating in a research report on Monday, February 26th. Royal Bank of Canada boosted their target price on shares of Main Street Capital from $48.00 to $52.00 and gave the stock an “outperform” rating in a report on Tuesday, April 30th. Finally, UBS Group raised their target price on shares of Main Street Capital from $43.00 to $45.00 and gave the stock a “neutral” rating in a report on Friday, March 1st. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $46.17.

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.