Main Street Capital Co. (NYSE:MAIN) Announces Dividend Increase – $0.25 Per Share

Main Street Capital Co. (NYSE:MAIN) declared a monthly dividend on Friday, November 8th,Wall Street Journal reports. Investors of record on Friday, March 7th will be given a dividend of 0.25 per share by the financial services provider on Friday, March 14th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 5.78%. The ex-dividend date of this dividend is Friday, March 7th. This is a positive change from Main Street Capital’s previous monthly dividend of $0.25.

Main Street Capital has increased its dividend payment by an average of 18.7% per year over the last three years. Main Street Capital has a payout ratio of 74.2% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Main Street Capital to earn $3.91 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 75.2%.

Main Street Capital Trading Up 0.7 %

NYSE:MAIN opened at $51.87 on Friday. Main Street Capital has a 52 week low of $40.25 and a 52 week high of $52.63. The firm has a 50-day moving average price of $50.60 and a two-hundred day moving average price of $50.03. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.07 and a current ratio of 0.07. The firm has a market cap of $4.52 billion, a price-to-earnings ratio of 9.70 and a beta of 1.29.

Main Street Capital (NYSE:MAIN) last issued its quarterly earnings results on Thursday, August 8th. The financial services provider reported $1.01 EPS for the quarter, meeting analysts’ consensus estimates of $1.01. Main Street Capital had a return on equity of 14.06% and a net margin of 87.58%. The company had revenue of $132.15 million during the quarter, compared to the consensus estimate of $132.62 million. During the same period last year, the business posted $1.06 earnings per share. On average, equities analysts expect that Main Street Capital will post 4.12 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on MAIN shares. Royal Bank of Canada reaffirmed an “outperform” rating and set a $52.00 target price on shares of Main Street Capital in a research report on Wednesday, August 14th. Oppenheimer raised their price objective on shares of Main Street Capital from $43.00 to $44.00 and gave the stock a “market perform” rating in a report on Tuesday, August 13th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $48.40.

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.