Regular Monthly Dividends of $0.245 per Share for each of July,
August and September 2024
Monthly Dividends Represent a 2.1% Increase
Compared to Second Quarter 2024 and a 6.5% Increase Compared to
Third Quarter 2023
Supplemental Dividend of $0.30 per Share Payable in June 2024
HOUSTON, May 7, 2024
/PRNewswire/ -- Main Street Capital Corporation (NYSE: MAIN) ("Main
Street") is pleased to announce that its Board of Directors
declared regular monthly cash dividends of $0.245 per share for each of July, August and
September 2024. These monthly
dividends, which will be payable pursuant to the table below, total
$0.735 per share for the third
quarter of 2024 and represent a 2.1% increase from the regular
monthly dividends declared for the second quarter of 2024 and a
6.5% increase from the regular monthly dividends paid in the third
quarter of 2023. 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 Third
Quarter 2024 Regular Monthly Dividends
|
|
Declared
|
Ex-Dividend
Date
|
Record Date
|
Payment Date
|
Amount
Per Share
|
5/6/2024
|
7/8/2024
|
7/8/2024
|
7/15/2024
|
$0.245
|
5/6/2024
|
8/8/2024
|
8/8/2024
|
8/15/2024
|
$0.245
|
5/6/2024
|
9/6/2024
|
9/6/2024
|
9/13/2024
|
$0.245
|
|
|
Total for Third Quarter
2024:
|
$0.735
|
In addition to the regular monthly dividends for the third
quarter of 2024, the Board of Directors declared a supplemental
cash dividend of $0.30 per share
payable in June 2024. 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
March 31, 2024.
Supplemental Cash
Dividend Payable in June 2024
|
|
Declared
|
Ex-Dividend
Date
|
Record Date
|
Payment Date
|
Amount Per
Share
|
5/6/2024
|
6/21/2024
|
6/21/2024
|
6/27/2024
|
$0.30
|
Including all dividends declared to date, including the third
quarter 2024 regular monthly dividends and the June 2024 supplemental dividend, Main Street will
have paid $41.59 per share in
cumulative cash dividends since its October
2007 initial public offering at $15.00 per share. Including the third quarter
2024 regular monthly dividends and the June
2024 supplemental dividend, these most recent dividend
declarations represent total dividends to Main Street shareholders
of $1.035 per share, representing an
annualized current yield of 8.1% based on the closing price of
$50.88 per share on May 6, 2024.
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 2024 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 investment strategy. Main Street's lower middle market
portfolio companies generally have annual revenues between
$10 million and $150 million. Main Street's middle market
portfolio companies 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, as amended.
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 2024 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