Main Street Capital Corporation (NYSE: MAIN) has recently declared an increase in dividends for the fourth quarter of 2024. The company’s Board of Directors announced regular monthly cash dividends of $0.245 per share for each of October, November, and December 2024. These dividends, totaling $0.735 per share for the quarter, represent a 4.3% increase from the previous year’s fourth quarter dividends.
In addition to the regular monthly dividends, Main Street Capital Corporation also declared a supplemental cash dividend of $0.30 per share, payable in September 2024. This supplemental dividend will be paid out of the company’s undistributed taxable income as of June 30, 2024.
Including all dividends declared to date, Main Street Capital Corporation will have paid a cumulative cash dividend of $42.625 per share since its initial public offering in October 2007. The recent dividend declarations, along with the September 2024 supplemental dividend, represent total dividends of $1.035 per share, offering shareholders an annualized current yield of 8.8% based on the closing price of $47.05 per share on August 5, 2024.
Main Street Capital Corporation is a principal investment firm that provides long-term debt and equity capital to lower middle market companies and debt capital to middle market companies. The company’s portfolio investments support various transactions such as management buyouts, recapitalizations, growth financings, refinancings, and acquisitions. Main Street Capital Corporation aims to partner with entrepreneurs, business owners, and management teams, offering financing alternatives within its lower middle market investment strategy.
Main Street Capital Corporation also maintains an asset management business through its wholly owned portfolio company, MSC Adviser I, LLC. MSC Adviser manages investments for external parties and is registered as an investment adviser under the Investment Advisers Act of 1940, as amended.
For more information about Main Street Capital Corporation and its dividend reinvestment and direct stock purchase plan, visit their website.