Welcome to our dedicated page for Main Street Capital Corporation news (Ticker: MAIN), a resource for investors and traders seeking the latest updates and insights on Main Street Capital Corporation stock.
Main Street Capital Corporation (NYSE: MAIN) 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 typically support management buyouts, recapitalizations, growth financings, refinancings, and acquisitions across various industry sectors. Main Street's lower middle market investments target companies with annual revenues between $10 million and $150 million, offering a 'one-stop' financing solution for entrepreneurs, business owners, and management teams. In contrast, its middle market investments focus on larger businesses.
Recent milestones include:
- In Q4 2023, Main Street reported new or increased commitments in its private loan portfolio amounting to $136.8 million, with investments totaling $160.4 million, bringing the private loan portfolio to around $1.5 billion across 87 unique borrowers.
- Preliminary Q4 2023 results show a record net investment income per share, a new high for net asset value per share for the sixth consecutive quarter, and a return on equity exceeding 22% for the quarter.
- For the full year 2023, Main Street achieved a 19% return on equity, with distributable net investment income per share setting annual records.
Strategic partnerships and diversified investment strategies have enabled Main Street to maintain a conservative capital structure while delivering significant shareholder value. In January 2024, the company issued $350 million in unsecured notes at 6.95%, further solidifying its financial foundation.
Main Street also manages external investments through its wholly-owned subsidiary MSC Adviser I, LLC, which is registered as an investment adviser. This asset management business, which ended 2023 with $1.5 billion in assets under management, contributes substantially to the company's net investment income.
Main Street's robust pipeline and strong performance trends indicate ongoing growth and value creation for stakeholders. For more information, visit the company's website at www.mainstcapital.com.
Main Street Capital Corporation (NYSE: MAIN) reported strong second quarter 2021 results, achieving net investment income of $42.4 million ($0.62 per share) and distributable net investment income of $45.2 million ($0.66 per share). Total investment income grew by 29% year-over-year to $67.3 million. The net increase in net assets from operations was $95.1 million, reflecting a record return on equity of 24.2%. Monthly dividends remained steady at $0.615 per share for Q3 2021. Despite increased operating expenses of $22.1 million, the firm maintains a strong liquidity position of $772.8 million, including significant unused credit capacity.
Main Street Capital Corporation (NYSE: MAIN) announced a regular monthly cash dividend of $0.21 per share for October, November, and December 2021. This marks a total of $0.63 for the fourth quarter, representing a 2.4% increase from the prior quarter's dividends. Since its IPO in October 2007, Main Street has consistently increased monthly dividends and has paid a cumulative $32.075 per share in dividends. The ex-dividend dates are September 28, October 28, and November 23, 2021, with payments on October 15, November 15, and December 15, 2021.
Main Street Capital Corporation (NYSE: MAIN) reported substantial activity in its private loan portfolio for Q2 2021, originating approximately $118.5 million in new loan commitments across six borrowers. The total investments in the private loan portfolio reached $125.6 million. Key commitments include loans to a cloud communications solutions provider (totaling $50 million), a software solution provider ($20.7 million), and a labor market analytics provider ($18.9 million). As of June 30, 2021, the portfolio comprises $884 million in investments across 69 borrowers.
Main Street Capital Corporation (NYSE: MAIN) will announce its second quarter 2021 results on August 5, 2021, after market close. A conference call will follow on August 6, 2021, at 10:00 a.m. Eastern time, accessible via phone or audio webcast. Investors can dial in at 412-902-0030 and access a replay up to August 13, 2021. Participants are encouraged to log in early for the webcast at www.mainstcapital.com. Main Street primarily invests in lower middle market companies, providing long-term debt and equity capital.
Main Street Capital Corporation (NYSE: MAIN) announced a successful follow-on investment of $23.6 million in CAI Software, LLC, facilitating a leveraged recapitalization. This investment continues Main Street's strategy of supporting lower middle-market companies, having initially invested in CAI in 2014. CAI, established in 1978, specializes in enterprise resource planning and related software solutions, expanding its capabilities through multiple acquisitions since 2017, enhancing revenue diversity and product offerings.
Main Street Capital Corporation (NYSE: MAIN) has successfully exited its equity investment in American Trailer Rental Group, LLC (ATRG) following its sale to a financial sponsor. This exit yielded a $17.0 million gain, exceeding the fair market value by $7.8 million as of March 31, 2021. Since its initial investment in June 2017, Main Street achieved a remarkable internal rate of return of 60.9% on equity investments, and 28.1% on total debt and equity investments, realizing a 1.7 times return.
Main Street Capital Corporation (NYSE: MAIN) reported strong first-quarter 2021 results with a net investment income of $39.8 million ($0.58 per share) and distributable net investment income of $42.1 million ($0.62 per share). Total investment income increased by 12% to $62.8 million, driven by a $9.7 million rise in dividend income. The company declared consistent monthly dividends of $0.615 per share for Q2 2021. As of March 31, 2021, net asset value rose to $22.65 per share, with liquidity at $818 million. Total operating expenses ratio stood at 1.3%.
Main Street Capital Corporation (NYSE: MAIN) declared regular monthly cash dividends of $0.205 per share for July, August, and September 2021, totaling $0.615 for the third quarter. These dividends are consistent with previous quarterly amounts, reflecting the company's commitment to maintain its dividend policy since its IPO in October 2007. Cumulatively, Main Street has paid $31.45 per share in cash dividends since its IPO. The next payment is scheduled for July 15, 2021, with ex-dividend dates starting on June 28, 2021.
Main Street Capital Corporation (NYSE: MAIN) reported significant activity in its private loan portfolio for Q1 2021. The company originated approximately $25.4 million in new private loan commitments to two new borrowers and funded investments totaling $39.8 million. Notable commitments included $15.7 million for a self-storage provider and $6.0 million for a distributor of electronic components. As of March 31, 2021, Main Street's private loan portfolio reached $767.1 million across 63 borrowers, with 91% in first lien debt investments.
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