Main Street Capital Corporation (MAIN) Announces Monthly Dividend of $0.19
Main Street Capital Corporation (NYSE:MAIN) declared a monthly dividend on Thursday, November 2nd, Wall Street Journal reports. Shareholders of record on Friday, January 19th will be given a dividend of 0.19 per share by the financial services provider on Thursday, February 15th. This represents a $2.28 annualized dividend and a yield of 5.68%. The ex-dividend date of this dividend is Thursday, January 18th.
Main Street Capital Corporation has raised its dividend by an average of 5.4% per year over the last three years and has raised its dividend annually for the last 6 consecutive years. Main Street Capital Corporation has a dividend payout ratio of 98.7% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities analysts expect Main Street Capital Corporation to earn $2.32 per share next year, which means the company should continue to be able to cover its $2.28 annual dividend with an expected future payout ratio of 98.3%.
Main Street Capital Corporation (NYSE:MAIN) last issued its quarterly earnings results on Thursday, August 3rd. The financial services provider reported $0.58 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.53 by $0.05. Main Street Capital Corporation had a return on equity of 10.24% and a net margin of 86.36%. The business had revenue of $50.30 million for the quarter, compared to analyst estimates of $47.82 million. During the same quarter in the previous year, the firm earned $0.54 earnings per share. The company’s revenue was up 17.2% on a year-over-year basis.
MAIN has been the topic of a number of recent research reports. BidaskClub upgraded Main Street Capital Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, October 17th. Zacks Investment Research downgraded Main Street Capital Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, October 10th. ValuEngine raised Main Street Capital Corporation from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Finally, National Securities reissued a “sell” rating and issued a $33.00 price target on shares of Main Street Capital Corporation in a report on Tuesday, August 8th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company’s stock. Main Street Capital Corporation currently has a consensus rating of “Hold” and an average target price of $38.98.
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About Main Street Capital Corporation
Main Street Capital Corporation (MSCC) is a principal investment firm. MSCC’s principal investment objective is to maximize its portfolio’s total return by generating current income from the Company’s debt investments and capital appreciation from its equity and equity related investments, including warrants, convertible securities and other rights to acquire equity securities in a portfolio company.
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