Main Street Capital Corporation (MAIN) To Go Ex-Dividend on April 8th

Main Street Capital Corporation (NYSE:MAIN) announced a quarterly dividend on Tuesday, February 24th. Stockholders of record on Wednesday, April 8th will be paid 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 2.0%. 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 increased its dividend annually for the last 4 consecutive years. Main Street Capital has a dividend payout ratio of 82.1% meaning 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 Trading Up 2.2%

NYSE MAIN opened at $58.97 on Thursday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.06 and a current ratio of 0.06. Main Street Capital has a one year low of $47.00 and a one year high of $67.77. The company’s 50 day moving average price is $61.30 and its 200 day moving average price is $61.40. The firm has a market capitalization of $5.28 billion, a price-to-earnings ratio of 9.78 and a beta of 0.80.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Corient Private Wealth LLC lifted its stake in Main Street Capital by 3,880.3% during the fourth quarter. Corient Private Wealth LLC now owns 890,361 shares of the financial services provider’s stock worth $53,768,000 after purchasing an additional 867,992 shares during the last quarter. Mercer Global Advisors Inc. ADV raised its position in shares of Main Street Capital by 9.4% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 13,584 shares of the financial services provider’s stock worth $820,000 after purchasing an additional 1,172 shares during the period. Virtue Capital Management LLC boosted its position in Main Street Capital by 129.7% during the 4th quarter. Virtue Capital Management LLC now owns 11,531 shares of the financial services provider’s stock valued at $712,000 after purchasing an additional 6,510 shares during the period. Empowered Funds LLC grew its stake in Main Street Capital by 14.1% during the 4th quarter. Empowered Funds LLC now owns 13,715 shares of the financial services provider’s stock worth $828,000 after buying an additional 1,691 shares during the last quarter. Finally, Garton & Associates Financial Advisors LLC acquired a new stake in Main Street Capital in the fourth quarter worth $213,000. 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.