Thursday, August 3, 2023

Dividend Increase - Main Street Capital Corporation (MAIN)


Wednesday, August 2nd the Board of Directors of Main Street Capital Corporation (MAIN) announced a monthly dividend increase of from $0.23 to $0.235 per share that’s payable October 13, 2023 to holders of record October 6, 2023. This represents a 2.17% increase over the last monthly dividend and and a 6.8% increase from the regular monthly dividends paid in the fourth quarter of 2022.

Since its October 2007 initial public offering, Main Street has periodically increased the amount of its regular monthly dividends paid per share and has never reduced its regular monthly dividend amount per share.

In addition to the regular monthly dividends for the fourth quarter of 2023, the Board of Directors declared a supplemental cash dividend of $0.275 per share payable in September 27, 2022 to holders of record September 20, 2022.

With current price $42.49 (yesterday's close), this raise brings their dividend yield to 6.64%.

Main Street Capital is a Dividend Contenders with a 13 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 $6.93.

This increase was in line with my expectations and I am happy to receive it.

This is the seventh dividend increase I've received from Main Street Capital Corporation since initiating a position in November 2018. During this period, the monthly dividend has risen acceptably from $ 0.195 to $ 0.235, or 20.5 percent.

This increase raises my YOC to 7.36%.

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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