Main Street Announces First Quarter 2021 Regular Monthly Dividends

Rhea-AI Summary

Main Street Capital Corporation (NYSE: MAIN) announced regular monthly cash dividends of $0.205 per share for January, February, and March 2021, totaling $0.615 for the first quarter. This marks consistency with prior dividend declarations. Since its IPO in October 2007, Main Street has paid $30.22 in cumulative dividends per share and has never reduced its dividend amount. The dividends will be payable on specified dates, including January 15, February 12, and March 15. Main Street also offers a dividend reinvestment plan for shareholders.

Positive

• Monthly dividends of $0.205 maintain consistency, totaling $0.615 for Q1 2021.
• Cumulative dividends paid since October 2007 amount to $30.22 per share.
• The company has never reduced its regular monthly dividend.

Negative

• None.

HOUSTON, Nov. 4, 2020 /PRNewswire/ -- Main Street Capital Corporation (NYSE: MAIN) ("Main Street") is pleased to announce that its Board of Directors declared regular monthly cash dividends of $0.205 per share for each of January, February and March 2021.  These monthly dividends, which will be payable pursuant to the table below, total $0.615 per share for the first quarter of 2021, which are consistent with the regular monthly dividends declared for the first quarter of 2020 and fourth quarter of 2020. Since its October 2007 initial public offering, Main Street has periodically increased the amount of its regular monthly dividends paid per share and has never reduced its regular monthly dividend amount per share.  Including all dividends declared to date, Main Street will have paid $30.22 per share in cumulative cash dividends since its October 2007 initial public offering at $15.00 per share. 

Summary of First Quarter 2021 Regular Monthly Dividends

Declared	Ex-Dividend Date	Record Date	Payment Date	Amount Per Share
11/3/2020 11/3/2020 11/3/2020	1/4/2021 1/28/2021 2/25/2021	1/5/2021 1/29/2021 2/26/2021	1/15/2021 2/12/2021 3/15/2021	$0.205 $0.205 $0.205
		Total for First Quarter 2021:		$0.615

The final determination of the tax attributes for dividends each year is made after the close of the tax year.  The final tax attributes for 2021 dividends are currently expected to include a combination of ordinary taxable income and qualified dividends and may include capital gains and return of capital.

Main Street maintains a dividend reinvestment and direct stock purchase plan (the "Plan").  The dividend reinvestment feature of the Plan (the "DRIP") provides for the reinvestment of dividends on behalf of Main Street's registered stockholders who hold their shares with Main Street's transfer agent and registrar, American Stock Transfer and Trust Company, or certain brokerage firms that have elected to participate in the DRIP.  Under the DRIP, if Main Street declares a dividend, registered stockholders who have not "opted out" of the DRIP by the dividend record date will have their dividend automatically reinvested into additional shares of Main Street common stock.  The direct stock purchase feature of the Plan (the "DSPP") provides investors with a convenient and economical method to purchase shares of Main Street common stock.  More information about the Plan (including the DSPP prospectus) can be found on the Main Street website (https://ir.mainstcapital.com/dividend-reinvestment-and-direct-stock-purchase-plan). 

ABOUT MAIN STREET CAPITAL CORPORATION
Main Street (www.mainstcapital.com) is a principal investment firm that primarily provides long-term debt and equity capital to lower middle market companies and debt capital to middle market companies.  Main Street's portfolio investments are typically made to support management buyouts, recapitalizations, growth financings, refinancings and acquisitions of companies that operate in diverse industry sectors.  Main Street seeks to partner with entrepreneurs, business owners and management teams and generally provides "one stop" financing alternatives within its lower middle market portfolio.  Main Street's lower middle market companies generally have annual revenues between $10 million and $150 million.  Main Street's middle market debt investments are made in businesses that are generally larger in size than its lower middle market portfolio companies.

Main Street, through its wholly owned portfolio company MSC Adviser I, LLC ("MSC Adviser"), also maintains an asset management business through which it manages approximately $950 million of investments for third parties.  MSC Adviser is registered as an investment adviser under the Investment Advisers Act of 1940.     

FORWARD-LOOKING STATEMENTS
This press release may contain certain forward-looking statements, including but not limited to the continued payment and growth of future dividends and the potential tax attributes for 2021 dividends.  Any such statements other than statements of historical fact are likely to be affected by other unknowable future events and conditions, including elements of the future that are or are not under Main Street's control, and that Main Street may or may not have considered; accordingly, such statements cannot be guarantees or assurances of any aspect of future performance.  Actual performance and results could vary materially from these estimates and projections of the future as a result of a number of factors, including those described from time to time in Main Street's filings with the Securities and Exchange Commission.  Such statements speak only as of the time when made and are based on information available to Main Street as of the date hereof and are qualified in their entirety by this cautionary statement.  Main Street assumes no obligation to revise or update any such statement now or in the future.

Contacts:

Main Street Capital Corporation
Dwayne L. Hyzak, CEO, dhyzak@mainstcapital.com
Brent D. Smith, CFO, bsmith@mainstcapital.com
713-350-6000

Dennard Lascar Investor Relations
Ken Dennard | ken@dennardlascar.com
Zach Vaughan | zvaughan@dennardlascar.com
713-529-6600

View original content:http://www.prnewswire.com/news-releases/main-street-announces-first-quarter-2021-regular-monthly-dividends-301165937.html

SOURCE Main Street Capital Corporation

FAQ

What is the dividend amount declared by Main Street for Q1 2021?

Main Street declared a monthly cash dividend of $0.205 per share for January, February, and March 2021.

When will Main Street's dividends for Q1 2021 be paid?

Dividends will be paid on January 15, February 12, and March 15, 2021.

How much has Main Street paid in cumulative dividends since its IPO?

Since its IPO in October 2007, Main Street has paid a total of $30.22 per share in cumulative cash dividends.

What is the significance of Main Street's dividend history?

Main Street has consistently increased dividends and has never reduced the dividend amount since its IPO.