Main Street Capital Corporation (MAIN) To Go Ex-Dividend on October 19th
Main Street Capital Corporation (NYSE:MAIN) announced a monthly dividend on Wednesday, August 2nd, Wall Street Journal reports. Stockholders of record on Friday, October 20th will be paid a dividend of 0.19 per share by the financial services provider on Wednesday, November 15th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 5.71%. The ex-dividend date of this dividend is Thursday, October 19th.
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 every year for the last 6 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. Research 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%.
Shares of Main Street Capital Corporation (NYSE MAIN) opened at 39.91 on Friday. Main Street Capital Corporation has a 52 week low of $32.12 and a 52 week high of $40.86. The company has a market cap of $2.27 billion, a price-to-earnings ratio of 13.11 and a beta of 1.00. The stock’s 50 day moving average is $39.66 and its 200-day moving average is $39.08.
Main Street Capital Corporation (NYSE:MAIN) last posted its quarterly earnings results on Thursday, August 3rd. The financial services provider reported $0.58 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.53 by $0.05. The company had revenue of $50.30 million for the quarter, compared to the consensus estimate of $47.82 million. Main Street Capital Corporation had a net margin of 86.36% and a return on equity of 10.24%. The firm’s revenue was up 17.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.54 EPS. On average, equities analysts anticipate that Main Street Capital Corporation will post $2.30 earnings per share for the current year.
Several research firms recently commented on MAIN. Zacks Investment Research raised shares of Main Street Capital Corporation from a “hold” rating to a “buy” rating and set a $45.00 price target on the stock in a research note on Thursday, August 10th. ValuEngine raised shares of Main Street Capital Corporation from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. BidaskClub downgraded shares of Main Street Capital Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, August 23rd. Finally, National Securities reaffirmed a “sell” rating and issued a $33.00 price target on shares of Main Street Capital Corporation in a research note on Tuesday, August 8th. Four research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus 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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