Main Street Announces First Quarter 2022 Regular Monthly Dividends Increase and Supplemental Dividend Payable in December 2021

Rhea-AI Summary

Main Street Capital Corporation (NYSE: MAIN) announced regular monthly cash dividends of $0.215 per share for January, February, and March 2022, totaling $0.645 for the quarter, a 2.4% increase from Q4 2021 and 4.9% from Q1 2021. The Board also declared a supplemental cash dividend of $0.10 per share payable in December 2021. Since its IPO in October 2007, Main Street has paid $32.82 per share in cumulative dividends, maintaining a consistent dividend increase history without any reductions.

Positive

• Declared monthly dividends of $0.215 per share for Q1 2022, totaling $0.645, reflecting a 2.4% increase from Q4 2021.
• Supplemental dividend of $0.10 per share to be paid in December 2021.
• Cumulative dividends paid since October 2007 amount to $32.82 per share, demonstrating a strong dividend growth record.

Negative

• None.

HOUSTON, Nov. 2, 2021 /PRNewswire/ -- Main Street Capital Corporation (NYSE: MAIN) ("Main Street") is pleased to announce that its Board of Directors declared regular monthly cash dividends of $0.215 per share for each of January, February and March 2022.  These monthly dividends, which will be payable pursuant to the table below, total $0.645 per share for the first quarter of 2022, which represent a 2.4% increase from the regular monthly dividends paid for the fourth quarter of 2021 and represent a 4.9% increase from the regular monthly dividends declared for the first quarter of 2021. 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.

Summary of First Quarter 2022 Regular Monthly Dividends

Declared	Ex-Dividend Date	Record Date	Payment Date	Amount Per Share
11/1/2021 11/1/2021 11/1/2021	1/3/2022 2/1/2022 3/1/2022	1/4/2022 2/2/2022 3/2/2022	1/14/2022 2/15/2022 3/15/2022	$0.215 $0.215 $0.215
		Total for First Quarter 2022:		$0.645

In addition to the regular monthly dividends for the first quarter of 2022, the Board of Directors declared a supplemental cash dividend of $0.10 per share payable in December 2021. This supplemental cash dividend, which will be payable as set forth in the table below, will be paid out of Main Street's undistributed taxable income (taxable income in excess of dividends paid) as of September 30, 2021. Including all dividends declared to date, including the first quarter 2022 regular monthly dividend and the fourth quarter 2021 supplemental dividend, Main Street will have paid $32.82 per share in cumulative cash dividends since its October 2007 initial public offering at $15.00 per share. 

Supplemental Cash Dividend Payable in December 2021

Declared	Ex-Dividend Date	Record Date	Payment Date	Amount Per Share
11/1/2021	12/21/2021	12/22/2021	12/30/2021	$0.10

The final determination of the tax attributes for dividends each year are made after the close of the tax year.  The final tax attributes for 2021 and 2022 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 investments for external 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 and 2022 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
Jesse E. Morris, CFO and COO, jmorris@mainstcapital.com
713-350-6000

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

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SOURCE Main Street Capital Corporation

FAQ

What is the upcoming dividend payment for MAIN in January 2022?

Main Street Capital Corporation will pay $0.215 per share as a monthly dividend in January 2022.

When is the ex-dividend date for the MAIN dividend in February 2022?

The ex-dividend date for the February 2022 dividend is February 1, 2022.

Is there a supplemental dividend declared by MAIN for 2021?

Yes, Main Street has declared a supplemental cash dividend of $0.10 per share payable in December 2021.

How much have shareholders received in cumulative dividends since MAIN's IPO?

Shareholders have received a total of $32.82 per share in cumulative dividends since Main Street's IPO in October 2007.

What was the total dividend payout for MAIN in the first quarter of 2022?

The total dividend payout for MAIN in the first quarter of 2022 is $0.645 per share.