Main Str Cap Corp Stock Price, News & Analysis

Main Street Capital Corporation (NYSE: MAIN) announced regular monthly dividends of $0.225 per share for April, May, and June 2023, totaling $0.675, reflecting a 4.7% increase from Q2 2022. Additionally, a supplemental cash dividend of $0.175 per share will be payable in March 2023. Since its IPO in October 2007, Main Street has paid $36.645 per share in cumulative dividends. The final tax attributes for 2023 dividends may include a combination of ordinary taxable income and qualified dividends. Shareholders can also participate in the dividend reinvestment and direct stock purchase plan.

Main Street Capital Corporation (NYSE: MAIN) has announced a follow-on investment of $12.2 million in Iron-Main Investments, LLC to support its acquisition of a pre-employment background check company. This investment includes $11.2 million in senior secured term debt and $1.0 million in equity. Iron-Main has been operational since 1984 and significantly expands its market presence and customer base in the industrial and healthcare sectors. This marks Main Street's third follow-on investment since partnering with Iron Creek Partners in 2021.

Main Street Capital Corporation (NYSE: MAIN) announced the closing of an additional $50.0 million in investment grade notes with a fixed interest rate of 7.53%, maturing on December 23, 2025. The funds will be utilized to repay a portion of outstanding debt and to finance investments aligned with Main Street's objectives. The notes are unsecured and are not registered under the Securities Act, thus cannot be sold in the U.S. without proper registration. The company primarily invests in lower middle market firms, providing both debt and equity capital.

Main Street Capital Corporation (NYSE: MAIN) announced a follow-on investment of $40 million in Gamber-Johnson, LLC to finance its acquisition of Lind Electronic Design Company, Inc.. This investment, which marks Main Street's fifth in Gamber-Johnson since June 2016, is a senior secured term debt. Lind, based in Minnetonka, Minnesota, specializes in rugged mobile power solutions for various sectors, including public safety and military. Gamber-Johnson, headquartered in Stevens Point, Wisconsin, is a leading provider of rugged mounting solutions used globally by law enforcement and military fleets.

Total Commitments for Main Street Capital Corporation have increased from $920 million to $980 million, marking a $60 million rise due to a new lender relationship. This increment was made possible through the accordion feature of the Credit Facility, which allows total commitments up to $1.38 billion. CEO Dwayne L. Hyzak expressed satisfaction regarding the diversification of the lender group and the additional $415 million of debt capital that supports future growth and repayment of matured borrowings. Main Street focuses on providing long-term debt and equity to lower middle market companies.

Main Street Capital Corporation (NYSE: MAIN) announced its preliminary results for Q4 2022, with significant growth in net investment income and record performance indicators. The estimated net investment income per share ranges from $0.97 to $0.99, with distributable net investment income estimated between $1.02 and $1.04. The total investment portfolio reached a record $3.8 billion, fueled by $373 million in new originations. The company also reported a rise in NAV per share to $26.83 to $26.89, reflecting a 3.4% to 3.7% increase. Additionally, total dividends paid in 2022 amounted to $2.945 per share.

Main Street Capital Corporation (NYSE: MAIN) reported significant activity in its private loan portfolio for Q4 2022. The firm originated or increased commitments totaling $44.2 million, with total investments funded amounting to $86.4 million. Noteworthy loans included $29.1 million to an aircraft service provider, and $6.5 million to a cloud communications firm. As of December 31, 2022, Main Street's portfolio reached approximately $1.5 billion across 85 borrowers, with 96.7% in first lien investments.

Main Street Capital Corporation (NYSE: MAIN) announced the successful closure of a private notes offering totaling $100.0 million. The unsecured notes carry a fixed interest rate of 7.84%, maturing on December 23, 2025. Proceeds will be primarily used to repay debt from its revolving credit facility and fund investments. The notes have not been registered under the Securities Act, limiting their sale in the U.S. without proper registration or exemption. Main Street aims to support lower middle market companies through long-term debt and equity capital.