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

Main Street Capital Co. (NYSE:MAIN) declared a monthly dividend on Monday, November 4th,Wall Street Journal reports. Investors of record on Wednesday, January 8th will be paid a dividend of 0.25 per share by the financial services provider on Wednesday, January 15th. This represents a $3.00 annualized dividend and a yield of 5.01%. The ex-dividend date of this dividend is Wednesday, January 8th. This is an increase from Main Street Capital’s previous monthly dividend of $0.25.

Main Street Capital has raised its dividend payment by an average of 5.6% annually over the last three years. Main Street Capital has a payout ratio of 77.3% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities analysts expect Main Street Capital to earn $4.01 per share next year, which means the company should continue to be able to cover its $3.00 annual dividend with an expected future payout ratio of 74.8%.

Main Street Capital Price Performance

Main Street Capital stock opened at $59.85 on Monday. Main Street Capital has a 12-month low of $42.68 and a 12-month high of $60.19. The firm has a 50-day moving average price of $54.53 and a 200-day moving average price of $51.75. The firm has a market capitalization of $5.28 billion, a PE ratio of 10.84 and a beta of 1.28. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.13.

Analyst Upgrades and Downgrades

Separately, B. Riley lifted their price objective on shares of Main Street Capital from $49.00 to $51.00 and gave the company a “neutral” rating in a report on Monday, November 11th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $48.80.

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.