Main Street Capital Co. (MAIN) to Issue Monthly Dividend of $0.19 on July 16th

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Main Street Capital Co. (NYSE:MAIN) declared a monthly dividend on Thursday, May 3rd, Wall Street Journal reports. Stockholders of record on Friday, June 29th will be paid a dividend of 0.19 per share by the financial services provider on Monday, July 16th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 6.00%. The ex-dividend date of this dividend is Thursday, June 28th.

Main Street Capital has increased its dividend by an average of 3.9% annually over the last three years and has raised its dividend every year for the last 7 years. Main Street Capital has a dividend payout ratio of 97.4% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities analysts expect Main Street Capital to earn $2.50 per share next year, which means the company should continue to be able to cover its $2.28 annual dividend with an expected future payout ratio of 91.2%.

Shares of Main Street Capital opened at $38.01 on Friday, according to MarketBeat. The stock has a market capitalization of $2.28 billion, a PE ratio of 15.90 and a beta of 0.95. Main Street Capital has a fifty-two week low of $34.37 and a fifty-two week high of $41.79. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.10 and a current ratio of 0.10.

Main Street Capital (NYSE:MAIN) last issued its earnings results on Thursday, May 3rd. The financial services provider reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.04. Main Street Capital had a return on equity of 10.48% and a net margin of 81.24%. The company had revenue of $55.94 million for the quarter, compared to the consensus estimate of $53.54 million. During the same quarter in the prior year, the company earned $0.57 EPS. The firm’s quarterly revenue was up 16.8% on a year-over-year basis. sell-side analysts expect that Main Street Capital will post 2.47 EPS for the current fiscal year.

A number of equities analysts recently commented on the company. National Securities upgraded Main Street Capital from a “sell” rating to a “neutral” rating and increased their price objective for the stock from $33.00 to $35.00 in a report on Monday, February 26th. B. Riley assumed coverage on Main Street Capital in a report on Tuesday, March 27th. They issued a “buy” rating and a $40.00 price objective on the stock. Zacks Investment Research downgraded Main Street Capital from a “buy” rating to a “hold” rating in a report on Saturday, March 24th. Finally, ValuEngine downgraded Main Street Capital from a “buy” rating to a “hold” rating in a report on Wednesday, April 11th. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $39.33.

About Main Street Capital

Main Street Capital Corporation is a business development company specializing in long- term equity and debt investments in small and lower middle market companies. The firm focuses on investments in, subordinated loans, private equity, venture debt, mezzanine investments, mature, mid venture, industry consolidation, later stage, late venture, emerging growth, management buyouts, change of control transactions, ownership transitions, recapitalizations, strategic acquisitions, refinancing, business expansion capital, growth financings, family estate planning, and other growth initiatives primarily for later stage businesses.

Dividend History for Main Street Capital (NYSE:MAIN)

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