Main Street Capital Co. (NYSE:MAIN) Plans Dividend of $0.30

Main Street Capital Co. (NYSE:MAIN) declared a dividend on Tuesday, March 18th, investing.com reports. Shareholders of record on Friday, March 21st will be given a dividend of 0.30 per share by the financial services provider on Thursday, March 27th. This represents a yield of 7.24%. The ex-dividend date is Thursday, March 20th. This is a 20.0% increase from Main Street Capital’s previous dividend of $0.25.

Main Street Capital has increased its dividend by an average of 8.6% annually over the last three years. Main Street Capital has a payout ratio of 76.3% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. 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 $3.00 annual dividend with an expected future payout ratio of 73.9%.

Main Street Capital Stock Up 1.5 %

MAIN stock opened at $57.13 on Tuesday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.08 and a current ratio of 0.08. The company has a market cap of $5.06 billion, a price-to-earnings ratio of 10.35 and a beta of 1.26. The business’s 50-day moving average is $59.83 and its two-hundred day moving average is $55.24. Main Street Capital has a fifty-two week low of $45.00 and a fifty-two week high of $63.32.

Main Street Capital (NYSE:MAIN) last issued its quarterly earnings results on Thursday, February 27th. The financial services provider reported $1.02 earnings per share for the quarter, missing the consensus estimate of $1.08 by ($0.06). The firm had revenue of $140.44 million for the quarter, compared to analysts’ expectations of $141.40 million. Main Street Capital had a net margin of 89.25% and a return on equity of 13.83%. As a group, analysts forecast that Main Street Capital will post 4.11 earnings per share for the current year.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Main Street Capital stock. Brighton Jones LLC purchased a new position in shares of Main Street Capital Co. (NYSE:MAIN) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 5,185 shares of the financial services provider’s stock, valued at approximately $304,000. Hedge funds and other institutional investors own 20.31% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Truist Financial increased their price target on shares of Main Street Capital from $52.00 to $62.00 and gave the company a “hold” rating in a report on Monday, March 3rd.

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.