Wednesday, August 4, 2021

Dividend Increase #56 of 2021 - Main Street Capital Corporation (MAIN)

 


 

Tuesday, August 3rd the Board of Directors of Main Street Capital Corporation (MAIN) announced a monthly dividend increase of from $ 0.205 to $ 0.21 per share. First raised dividend is payable October 15, 2021 to holders of record September 29, 2021. This represents a 2.44% increase over the prior monthly dividend.

 

With current price $ 41.61 (yesterday's close), this raise brings their dividend yield to 6.06%.

 

MAIN is a Dividend Contenders with a 10 year streak of dividend increases. Dividend growth rates for 1, 3, 5 and 10 years are 1.9, 3.2, 3.2 and 5.1 (Dividend Champions.xls)

 

 

Since I own 130 shares of MAIN, this will increase my portfolio's projected annual net dividend income by $ 5.81.

 

This increase came as a surprise to me. I couldn’t wait for it because the previous monthly dividend increase was in May 2019.

 

This is the second dividend increase I've received from Main Street Capital Corporation since initiating a position in November 2018. During this period, the quarterly dividend has risen poorly from $ 0.195 to $ 0.21, or 7.69 percent.

 

This increase raises my YOC to 6.60%.

 

 

Summary of 2021 Dividend Increases / Cuts

 

 

Click here to see my portfolio holdings.

 

You can follow the development of my dividends here.

 

Full Disclosure: Long MAIN

 

Thanks for stopping by!

 

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