Main Street Capital Corporation Announces Quarterly Dividend of $0.30 (NYSE:MAIN)

Main Street Capital Corporation (NYSE:MAIN) announced a quarterly dividend on Monday, August 4th, investing.com reports. Shareholders of record on Wednesday, October 8th will be paid a dividend of 0.30 per share by the financial services provider on Wednesday, October 15th. This represents a c) dividend on an annualized basis and a yield of 1.9%. The ex-dividend date is Wednesday, October 8th.

Main Street Capital has a payout ratio of 78.9% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities analysts expect Main Street Capital to earn $4.06 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 73.9%.

Main Street Capital Stock Performance

MAIN stock opened at $62.98 on Monday. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.09 and a quick ratio of 0.09. Main Street Capital has a 1 year low of $47.00 and a 1 year high of $67.77. The company has a market cap of $5.63 billion, a P/E ratio of 10.38 and a beta of 0.87. The stock’s fifty day moving average price is $65.14 and its 200-day moving average price is $59.81.

Main Street Capital (NYSE:MAIN) last announced its earnings results on Thursday, August 7th. The financial services provider reported $0.99 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.99. Main Street Capital had a return on equity of 12.70% and a net margin of 96.16%.The business had revenue of $143.97 million for the quarter, compared to analysts’ expectations of $137.23 million. On average, equities analysts forecast that Main Street Capital will post 4.11 earnings per share for the current year.

Insider Activity

In related news, Director Nicholas Meserve sold 14,000 shares of the firm’s stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $67.15, for a total value of $940,100.00. Following the completion of the transaction, the director directly owned 82,383 shares of the company’s stock, valued at approximately $5,532,018.45. This trade represents a 14.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 4.00% of the stock is owned by company insiders.

Institutional Trading of Main Street Capital

A number of large investors have recently made changes to their positions in the business. Legal & General Group Plc raised its position in shares of Main Street Capital by 3.7% during the 2nd quarter. Legal & General Group Plc now owns 675,495 shares of the financial services provider’s stock valued at $39,918,000 after buying an additional 24,248 shares in the last quarter. Jones Financial Companies Lllp increased its stake in Main Street Capital by 45,123.0% during the first quarter. Jones Financial Companies Lllp now owns 590,613 shares of the financial services provider’s stock worth $33,405,000 after acquiring an additional 589,307 shares during the last quarter. Invesco Ltd. increased its position in shares of Main Street Capital by 282.5% during the 1st quarter. Invesco Ltd. now owns 532,267 shares of the financial services provider’s stock valued at $30,105,000 after purchasing an additional 393,101 shares during the last quarter. Adell Harriman & Carpenter Inc. raised its holdings in Main Street Capital by 1.5% during the 2nd quarter. Adell Harriman & Carpenter Inc. now owns 454,495 shares of the financial services provider’s stock valued at $26,861,000 after buying an additional 6,853 shares during the period. Finally, Sound Income Strategies LLC boosted its stake in Main Street Capital by 3.2% during the second quarter. Sound Income Strategies LLC now owns 345,827 shares of the financial services provider’s stock worth $20,438,000 after buying an additional 10,819 shares during the period. 20.31% of the stock is currently owned by institutional investors.

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.