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) is set to participate in two significant investor conferences: the Raymond James 44th Annual Institutional Investors Conference on March 6, 2023, in Orlando, and the RBC Capital Markets Financial Institutions Conference on March 7, 2023, in New York. The company focuses on providing debt and equity capital to lower middle market companies, typically generating between $10 million and $150 million in annual revenues. Main Street also manages external investments through its asset management division, MSC Adviser I, LLC.
Main Street Capital Corporation (NYSE: MAIN) reported strong financial results for Q4 and FY 2022. Key highlights include a net investment income of $75.9 million ($0.98/share) and distributable net investment income of $80.0 million ($1.03/share). The net asset value increased to $26.86/share, up 3.5% from Q3 2022. The total investment income reached $113.9 million, a 39% rise year-over-year. Main Street declared regular monthly dividends totaling $0.675 for Q1 2023, representing a 4.7% increase from Q1 2022. They diversely invested $372.8 million across lower middle market portfolios, enhancing liquidity with a $255.0 million senior secured revolving facility.
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
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
FAQ
What is the current stock price of Main Street Capital Corporation (MAIN)?
What is the market cap of Main Street Capital Corporation (MAIN)?
What does Main Street Capital Corporation do?
What types of investments does Main Street Capital make?
What is the typical size of companies in Main Street’s lower middle market portfolio?
How did Main Street perform financially in recent quarters?
What recent financial activities has Main Street Capital undertaken?
How does Main Street manage external investments?
How often does Main Street Capital Corporation pay dividends?
Where can I find more information about Main Street Capital Corporation?
Who can I contact for investor relations inquiries?
What is Main Street’s strategy to maintain growth?
