Main Street Capital Co. (NYSE:MAIN) Announces $0.25 Special Dividend

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.

Main Street Capital (NYSE:MAIN) last posted its quarterly earnings results on Thursday, May 9th. The financial services provider reported $0.64 EPS for the quarter, beating the consensus estimate of $0.62 by $0.02. The business had revenue of $61.40 million during the quarter, compared to analysts’ expectations of $60.33 million. Main Street Capital had a return on equity of 10.70% and a net margin of 73.33%. The company’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same period last year, the firm earned $0.63 EPS. As a group, research analysts forecast that Main Street Capital will post 2.54 EPS for the current fiscal year.

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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Dividend History for Main Street Capital (NYSE:MAIN)

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