Main Street Capital Corporation (NYSE: MAIN) has announced its regular monthly dividends and a supplemental dividend payable in March 2024. The board of directors declared regular monthly cash dividends of $0.24 per share for each of April, May, and June 2024, totaling $0.72 per share for the second quarter of 2024. This represents a 6.7% increase from the regular monthly dividends paid in the second quarter of 2023. In addition, a supplemental cash dividend of $0.30 per share payable in March 2024 was declared, bringing the total dividends to $1.02 per share.
Dwayne L. Hyzak, CEO of Main Street Capital Corporation, stated, "We are pleased to continue our track record of consistently paying monthly dividends to our shareholders. The increase in regular monthly dividends and the declaration of a supplemental dividend reflect our ongoing commitment to delivering attractive returns to our shareholders."
Regarding the company's market outlook, Hyzak added, "The annualized current yield of 9.1% based on the closing price of $44.88 per share on February 20, 2024, highlights the attractive income generation potential for investors in Main Street. We believe that our disciplined investment approach and the strength of our portfolio position us well for the future."
As of the latest trading data, the company's shares have moved -0.1%, and are currently trading at a price of $44.85.
Main Street Capital Corporation primarily provides long-term debt and equity capital to lower middle market companies and debt capital to middle market companies. The company seeks to partner with entrepreneurs, business owners, and management teams, and its portfolio investments are typically made to support a variety of corporate activities.
The company's full 8-K submission is available here.
