Main Street Capital Co. (MAIN) to Issue Monthly Dividend of $0.25 on December 13th

Main Street Capital Co. (NYSE:MAIN) declared a monthly dividend on Friday, August 9th,Wall Street Journal reports. Shareholders of record on Friday, December 6th will be given a dividend of 0.245 per share by the financial services provider on Friday, December 13th. This represents a $2.94 dividend on an annualized basis and a yield of 5.31%. The ex-dividend date of this dividend is Friday, December 6th.

Main Street Capital has raised its dividend payment by an average of 18.7% annually over the last three years. Main Street Capital has a dividend payout ratio of 72.8% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Main Street Capital to earn $4.01 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 73.3%.

Main Street Capital Price Performance

NYSE MAIN opened at $55.38 on Wednesday. The business has a 50 day simple moving average of $52.00 and a 200 day simple moving average of $50.52. Main Street Capital has a 52-week low of $41.31 and a 52-week high of $55.85. 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 stock has a market cap of $4.88 billion, a price-to-earnings ratio of 10.03 and a beta of 1.30.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $52.00 price objective on shares of Main Street Capital in a research report on Wednesday, August 14th. B. Riley raised their target price on shares of Main Street Capital from $49.00 to $51.00 and gave the company a “neutral” rating in a research report on Monday, November 11th. Finally, Oppenheimer boosted their price target on shares of Main Street Capital from $43.00 to $44.00 and gave the stock a “market perform” rating in a research report 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’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $48.80.

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.