Discover Main Street Capital Corporation's Exciting Dividend Announcement for Q4 2023 - A 6.8% Increase
Dividends
August 2, 2023
Main Street Capital Corporation (NYSE: MAIN), a leading investment firm, has recently announced its dividend declaration for the fourth quarter of 2023. The company's Board of Directors declared regular monthly cash dividends of $0.235 per share for October, November, and December 2023, representing a 2.2% increase from the previous quarter and a 6.8% increase from the same quarter last year. This decision showcases the company's commitment to providing consistent returns to its shareholders.
The declared dates for the regular monthly dividends are as follows:
Total for Fourth Quarter 2023: $0.705
In addition to the regular monthly dividends for the fourth quarter of 2023, Main Street's Board of Directors declared a supplemental cash dividend of $0.275 per share, which will be paid in September 2023. This supplemental dividend will be distributed from the company's undistributed taxable income as of June 30, 2023. The schedule for the supplemental cash dividend is as follows:
With the declaration of the fourth quarter 2023 regular monthly dividends and the upcoming supplemental cash dividend in September, Main Street Capital Corporation will have paid a cumulative cash dividend of $38.54 per share since its initial public offering in October 2007 at $15.00 per share. This impressive track record underscores the company's ability to generate consistent returns for its shareholders over the years.
It's important to note that the final determination of tax attributes for dividends is made after the close of the tax year. For the 2023 dividends, the company expects a combination of ordinary taxable income, qualified dividends, and possibly capital gains and return of capital.
Main Street Capital Corporation offers a dividend reinvestment and direct stock purchase plan (DSPP) for its shareholders. The dividend reinvestment feature of the plan allows registered stockholders to automatically reinvest their dividends into additional shares of Main Street common stock. This option provides a convenient way for shareholders to compound their investments over time.
Additionally, the DSPP feature of the plan enables investors to purchase shares of Main Street common stock directly, providing a straightforward and cost-effective method to add to their positions.
To learn more about the Plan, including the DSPP prospectus, investors can visit the Main Street website at https://ir.mainstcapital.com/dividend-reinvestment-and-direct-stock-purchase-plan.
Main Street Capital Corporation's commitment to regular dividend increases and its strong dividend history make it an attractive choice for investors seeking steady income from their investments. As always, investors should perform their due diligence and consult with financial advisors before making any investment decisions. With its focus on shareholder value, Main Street Capital continues to solidify its position as a reliable investment option in the market.
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