Wednesday, November 1st the Board of Directors of Main Street Capital Corporation (MAIN) announced a monthly dividend increase of from $0.235 to $0.24 per share that’s payable January 12, 2024 to holders of record January 5, 2024. This represents a 2.13% increase over the last monthly dividend and a 6.7% increase from the regular monthly dividends paid in the first quarter of 2023.
In addition to the regular monthly dividends for the first quarter of 2024, the Board of Directors declared a supplemental cash dividend of $0.275 per share payable in December 2023.
With current price $40.19 (yesterday's close), this raise brings their dividend yield to 7.17%.
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 $6.93.
This increase raises my YoC to 7.52%.
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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