Hello readers, how’s your work? I was OK as I had a lot of spare time at work. Anyway, I came across the following great news from Main Street Capital (MAIN), one of the best run Business Development Comany.
HOUSTON, April 20, 2017 /PRNewswire/ — Main Street Capital Corporation (MAIN) (“Main Street”) is pleased to announce that its Board of Directors declared its semi-annual supplemental cash dividend of $0.275 per share payable in June 2017. This supplemental cash dividend is in addition to the previously announced regular monthly cash dividends that Main Street declared for the second quarter of 2017 of $0.555 per share, or $0.185 per share for each of April, May and June 2017, and is consistent with the previous semi-annual supplemental cash dividends paid in June and December 2016. Including the regular monthly and supplemental cash dividends declared to date, Main Street will have paid $19.99 per share in cumulative cash dividends since its October 2007 initial public offering at $15.00 per share. Based upon the regular monthly dividend rate of $0.185 per share for the second quarter of 2017 and the current semi-annual supplemental dividend rate of $0.275 per share, Main Street’s current annualized run-rate for cash dividends is $2.77 per share.
As the average cost per share of my position in MAIN is $32.92, the YOC is 8.4%, WOW. I should add more shares to MAIN.
Disclosure: Long MAIN