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 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.
Main Street Capital Corporation (NYSE: MAIN) will release its first quarter 2021 results on May 6, 2021, post-market close. A live conference call is scheduled for May 7, 2021, at 10:00 a.m. Eastern time, accessible via phone or online. Investors can join the call by dialing 412-902-0030 or through the webcast on Main Street's investor relations website, with a replay available shortly after the call for 90 days. Main Street specializes in long-term debt and equity investment for lower middle-market companies and manages assets through MSC Adviser.
Main Street Capital Corporation (NYSE: MAIN) announced an amendment to its revolving credit facility, extending the maturity to April 2026. The total commitments rose from $780 million to $855 million, with potential increases up to $1.2 billion. The interest rate on outstanding borrowings remains unchanged at LIBOR plus 1.875%, contingent on maintaining agreed collateral and leverage requirements. Additionally, Main Street retains two one-year extension options for the credit facility, which may extend maturity for two more years with lender approval.
Main Street Capital Corporation (NYSE: MAIN) announced robust financial results for Q4 and full year 2020. Highlights include net investment income of $39.6 million ($0.59/share) in Q4 and $137.9 million ($2.10/share) for the year. Distributable net investment income also rose, totaling $42.3 million in Q4 and $148.8 million for the year. The net asset value increased to $22.35/share, up 3.9% from Q3 2020. The company declared monthly dividends of $0.615/share for Q1 2021, maintaining consistency with prior periods. Total investments amounted to $294.4 million in lower middle market portfolios in 2020.
Main Street Capital Corporation (NYSE: MAIN) declared monthly cash dividends of $0.205 per share for April, May, and June 2021, totaling $0.615 for Q2 2021. These dividends mirror those from Q1 2021 and Q2 2020. Since its IPO in October 2007, Main Street has consistently increased its dividend and has never reduced it, amounting to $30.83 per share in cumulative dividends. The final tax attributes for the dividends may include a mix of ordinary income, qualified dividends, capital gains, and return of capital.
Main Street Capital Corporation (NYSE: MAIN) will release its fourth quarter and full year 2020 results on February 25, 2021, post-market. A conference call is scheduled for February 26, 2021, at 10:00 a.m. EST, available via phone and online. Investors can join by calling 412-902-0030 or through the company's website. Main Street focuses on providing long-term capital to lower middle market companies, supporting activities such as buyouts and growth financing. For more information, visit www.mainstcapital.com.
Main Street Capital Corporation (NYSE: MAIN) reported strong activity in its private loan portfolio for Q4 2020, with approximately $80.5 million in new commitments and total new investments of $98.5 million. Key commitments included a total of $35 million to a healthcare-focused firm and $15.5 million to a futures trading operator. As of December 31, 2020, Main Street's portfolio included $769 million across 63 borrowers, with 90% in first lien debt. This positions the company favorably within its investment strategy, focusing on long-term capital for lower middle-market firms.
Main Street Capital Corporation (NYSE: MAIN) announced a public offering of $300 million in 3.00% notes due July 14, 2026. The notes will pay interest semiannually and can be redeemed at Main Street's discretion. Proceeds will primarily be used to repay outstanding debt and subsequently reinvested in accordance with the company’s strategies, including investments in marketable securities and general corporate purposes. The offering is expected to close on January 14, 2021.
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