Tuesday, May 2nd the Board of Directors of Main Street Capital Corporation (MAIN) announced a monthly dividend increase of from $0.225 to $0.23 per share that’s payable July 14, 2023 to holders of record July 7, 2023. This represents a 2.22% increase over the last monthly dividend and a 7.0% increase from monthly dividends paid in July 2022.
In addition to the regular monthly dividends for the third quarter of 2023, the Board of Directors declared a supplemental cash dividend of $0.225 per share payable in June 28, 2023.
With current price $40.42 (today's open), this raise brings their dividend yield to 6.83%.
Main Street Capital is a Dividend Contenders with a 14 year streak of dividend increases. Dividend growth rates for 1, 3, 5 and 10 years are 4.8, 2.4, 3.0 and 4.3 (Dividend Champions.xls)
Since I own 155 shares of MAIN, this will increase my portfolio's projected annual net dividend income by $6.98.
This increase raises my YoC to 7.20%.
Summary of 2023 Dividend Increases / Cuts
Click here to see my portfolio holdings.
You can follow the development of my dividends here.
Full Disclosure: Long MAIN
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