Main Street Capital Co. (NYSE:MAIN) Announces $0.30 Monthly Dividend

Main Street Capital Co. (NYSE:MAIN) announced a monthly dividend on Monday, May 6th, investing.com reports. Stockholders of record on Monday, July 8th will be paid a dividend of 0.30 per share by the financial services provider on Monday, July 15th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 6.89%. The ex-dividend date of this dividend is Monday, July 8th.

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 74.6% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Main Street Capital to earn $3.93 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 74.8%.

Main Street Capital Stock Up 0.7 %

Shares of NYSE:MAIN opened at $52.25 on Friday. The company has a quick ratio of 0.10, a current ratio of 0.10 and a debt-to-equity ratio of 0.11. The firm has a market cap of $4.48 billion, a P/E ratio of 9.53 and a beta of 1.29. Main Street Capital has a 12 month low of $37.70 and a 12 month high of $52.30. The company’s 50-day moving average price is $49.57 and its two-hundred day moving average price is $46.90.

Main Street Capital (NYSE:MAIN) last released its quarterly earnings results on Thursday, May 9th. The financial services provider reported $1.05 EPS for the quarter, beating the consensus estimate of $1.03 by $0.02. The business had revenue of $131.61 million for the quarter, compared to analysts’ expectations of $128.00 million. Main Street Capital had a net margin of 89.11% and a return on equity of 14.83%. During the same period in the prior year, the firm earned $1.02 earnings per share. As a group, research analysts forecast that Main Street Capital will post 4.08 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently commented on MAIN shares. Royal Bank of Canada raised their price objective 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. Truist Financial upped their price objective on shares of Main Street Capital from $45.00 to $52.00 and gave the company a “hold” rating in a report on Monday, May 13th. Finally, B. Riley upped their price target on shares of Main Street Capital from $47.00 to $49.00 and gave the company a “neutral” rating in a research note on Monday, May 13th. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, Main Street Capital currently has a consensus rating of “Hold” and an average price target of $48.20.

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.