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

Main Street Capital Corporation (NYSE:MAIN) declared a quarterly dividend on Monday, August 4th, investing.com reports. Investors 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) annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend is Wednesday, October 8th.

Main Street Capital has a dividend 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 tumble. Research 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 Trading Down 1.5%

Shares of NYSE MAIN opened at $62.98 on Monday. 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 PE ratio of 10.38 and a beta of 0.87. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.12. The company has a 50-day moving average of $65.14 and a two-hundred day moving average of $59.81.

Main Street Capital (NYSE:MAIN) last issued its quarterly earnings data on Thursday, August 7th. The financial services provider reported $0.99 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.99. Main Street Capital had a net margin of 96.16% and a return on equity of 12.70%. The firm had revenue of $143.97 million during the quarter, compared to analysts’ expectations of $137.23 million. As a group, equities analysts expect that Main Street Capital will post 4.11 earnings per share for the current fiscal year.

Insider Transactions at Main Street Capital

In other Main Street Capital news, Director Nicholas Meserve sold 14,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $67.15, for a total transaction of $940,100.00. Following the completion of the transaction, the director owned 82,383 shares in the company, valued at approximately $5,532,018.45. This trade represents a 14.53% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 4.00% of the company’s stock.

Institutional Trading of Main Street Capital

Several hedge funds have recently bought and sold shares of the business. Legal & General Group Plc grew its position in Main Street Capital by 3.7% in 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 purchasing an additional 24,248 shares during the period. Jones Financial Companies Lllp grew its position in Main Street Capital by 45,123.0% in the 1st quarter. Jones Financial Companies Lllp now owns 590,613 shares of the financial services provider’s stock valued at $33,405,000 after purchasing an additional 589,307 shares during the period. Invesco Ltd. grew its position in Main Street Capital by 282.5% in 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 period. Adell Harriman & Carpenter Inc. boosted 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 worth $26,861,000 after acquiring an additional 6,853 shares during the last quarter. Finally, Sound Income Strategies LLC boosted its holdings in Main Street Capital by 3.2% during the 2nd quarter. Sound Income Strategies LLC now owns 345,827 shares of the financial services provider’s stock worth $20,438,000 after acquiring an additional 10,819 shares during the last quarter. Institutional investors and hedge funds own 20.31% of the company’s stock.

About Main Street Capital

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.