Main Street Capital Co. (NYSE:MAIN) announced a special dividend on Friday, April 26th, Wall Street Journal reports. Stockholders of record on Tuesday, June 18th will be given a dividend of 0.25 per share by the financial services provider on Tuesday, June 25th. This represents a dividend yield of 6.16%. The ex-dividend date of this dividend is Monday, June 17th.
Main Street Capital has raised its dividend payment by an average of 3.0% per year over the last three years and has raised its dividend annually for the last 8 consecutive years. Main Street Capital has a dividend payout ratio of 97.2% 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 $2.60 per share next year, which means the company should continue to be able to cover its $2.46 annual dividend with an expected future payout ratio of 94.6%.
MAIN opened at $40.64 on Wednesday. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $2.55 billion, a PE ratio of 15.63 and a beta of 0.89. Main Street Capital has a 12 month low of $31.95 and a 12 month high of $41.02.
Several research firms have recently commented on MAIN. Zacks Investment Research cut Main Street Capital from a “buy” rating to a “hold” rating in a report on Thursday, May 16th. National Securities reissued a “neutral” rating and issued a $38.00 price target on shares of Main Street Capital in a report on Monday, May 13th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $39.80.
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Main Street Capital Company Profile
Main Street Capital Corporation is a business development company specializing in long- term equity and debt investments in small and lower middle market companies. The firm focuses on investments in, subordinated loans, private equity, venture debt, mezzanine investments, mature, mid venture, industry consolidation, later stage, late venture, emerging growth, management buyouts, change of control transactions, ownership transitions, recapitalizations, strategic acquisitions, refinancing, business expansion capital, growth financings, family estate planning, and other growth initiatives primarily for later stage businesses.
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