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

Main Street Capital Corporation (NYSE:MAIN) announced a quarterly dividend on Tuesday, February 24th. Stockholders of record on Wednesday, April 8th will be given a dividend of 0.30 per share by the financial services provider on Wednesday, April 15th. This represents a c) dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend is Wednesday, April 8th.

Main Street Capital has raised its dividend payment by an average of 0.1%per year over the last three years and has raised its dividend every year for the last 4 years. Main Street Capital has a payout ratio of 82.1% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities 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 $3.12 annual dividend with an expected future payout ratio of 76.8%.

Main Street Capital Stock Performance

Main Street Capital stock traded up $0.11 during mid-day trading on Wednesday, hitting $57.81. 109,448 shares of the company’s stock traded hands, compared to its average volume of 537,753. The company has a quick ratio of 0.06, a current ratio of 0.06 and a debt-to-equity ratio of 0.12. Main Street Capital has a one year low of $47.00 and a one year high of $67.77. The firm has a 50 day moving average price of $61.33 and a 200 day moving average price of $61.41. The company has a market cap of $5.18 billion, a PE ratio of 9.60 and a beta of 0.80.

Hedge Funds Weigh In On Main Street Capital

A number of hedge funds and other institutional investors have recently modified their holdings of MAIN. Price T Rowe Associates Inc. MD raised its holdings in Main Street Capital by 6.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,734,461 shares of the financial services provider’s stock worth $165,135,000 after buying an additional 162,580 shares during the period. Van ECK Associates Corp raised its holdings in shares of Main Street Capital by 100.9% during the third quarter. Van ECK Associates Corp now owns 2,448,201 shares of the financial services provider’s stock valued at $155,681,000 after acquiring an additional 1,229,863 shares during the period. Corient Private Wealth LLC lifted its position in shares of Main Street Capital by 3,880.3% in the 4th quarter. Corient Private Wealth LLC now owns 890,361 shares of the financial services provider’s stock valued at $53,768,000 after acquiring an additional 867,992 shares in the last quarter. UBS Group AG boosted its stake in Main Street Capital by 160.7% in the 3rd quarter. UBS Group AG now owns 866,884 shares of the financial services provider’s stock worth $55,125,000 after purchasing an additional 534,374 shares during the period. Finally, Legal & General Group Plc grew its position in Main Street Capital by 15.2% during the 4th quarter. Legal & General Group Plc now owns 719,967 shares of the financial services provider’s stock worth $43,479,000 after purchasing an additional 95,177 shares in the last quarter. Institutional investors and hedge funds own 20.31% of the company’s stock.

About Main Street Capital

Main Street Capital Corporation (NYSE: MAIN) is a publicly traded business development company that provides flexible debt and equity capital to lower middle market companies in the United States. Headquartered in Houston, Texas, Main Street Capital was formed in 2007 and operates under the Investment Company Act of 1940. The firm’s management services are provided by Main Street Capital Management, L.P., which focuses on identifying growing private companies with enterprise values typically between $10 million and $150 million.

Main Street Capital’s primary offerings include first-lien senior secured loans, second-lien loans, subordinated debt, and equity co-investments or minority equity positions.