Main Street Capital Co. (NYSE:MAIN) Raises Dividend to $0.25 Per Share

Main Street Capital Co. (NYSE:MAIN) announced a monthly dividend on Wednesday, May 8th, Wall Street Journal reports. Investors of record on Monday, July 8th will be paid a dividend of 0.245 per share by the financial services provider on Monday, July 15th. This represents a $2.94 dividend on an annualized basis and a yield of 5.81%. The ex-dividend date is Monday, July 8th. This is an increase from Main Street Capital’s previous monthly dividend of $0.24.

Main Street Capital has raised its dividend by an average of 18.7% per year over the last three years and has raised its dividend every year for the last 4 years. Main Street Capital has a dividend payout ratio of 73.3% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Main Street Capital to earn $3.90 per share next year, which means the company should continue to be able to cover its $2.88 annual dividend with an expected future payout ratio of 73.8%.

Main Street Capital Stock Performance

Main Street Capital stock opened at $50.63 on Thursday. Main Street Capital has a fifty-two week low of $37.70 and a fifty-two week high of $51.08. The firm’s fifty day moving average price is $47.37 and its 200-day moving average price is $44.40. The stock has a market cap of $4.30 billion, a P/E ratio of 9.70 and a beta of 1.25. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.09 and a current ratio of 0.09.

Main Street Capital (NYSE:MAIN) last posted its quarterly earnings data on Thursday, February 22nd. The financial services provider reported $1.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.06 by $0.06. The firm had revenue of $129.31 million during the quarter, compared to analysts’ expectations of $125.52 million. Main Street Capital had a return on equity of 14.99% and a net margin of 85.62%. On average, equities research analysts expect that Main Street Capital will post 4.07 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently weighed in on MAIN. Royal Bank of Canada increased their target price on Main Street Capital from $48.00 to $52.00 and gave the company an “outperform” rating in a report on Tuesday, April 30th. Truist Financial raised their price target on shares of Main Street Capital from $43.00 to $45.00 and gave the stock a “hold” rating in a report on Monday, February 26th. Oppenheimer increased their target price on shares of Main Street Capital from $41.00 to $43.00 and gave the stock a “market perform” rating in a report on Monday, February 26th. Finally, UBS Group boosted their price target on Main Street Capital from $43.00 to $45.00 and gave the company a “neutral” rating in a report on Friday, March 1st. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, Main Street Capital presently has a consensus rating of “Hold” and a consensus price target of $46.17.

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.