Wednesday, May 8, 2024

Dividend Increase - Main Street Capital Corporation (MAIN)


Tuesday, May 7th the Board of Directors of Main Street Capital Corporation (MAIN) announced a monthly dividend increase of from $0.24 to $0.245 per share that’s payable July 15, 2024 to holders of record July 8, 2024. This represents a 2.08% increase over the last monthly dividend and a 6.5% increase from the regular monthly dividends paid in the third quarter of 2023.

In addition to the regular monthly dividends for the third quarter of 2024, the Board of Directors declared a supplemental cash dividend of $0.30 per share payable in June 2024.

With current price $50.70 (yesterday's close), this raise brings their dividend yield to 5.80%.

Main Street Capital is a Dividend Contenders with a 15 year streak of dividend increases. Dividend growth rates for 1, 3, 5 and 10 years are 5.8, 3.7, 3.6 and 4.0 (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 Yield on Cost to 7.67%.

Summary of 2024 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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