The Globe and Mail

Go to the Globe and Mail homepage

Jump to main navigationJump to main content

Press release from PR Newswire

Main Street Paying an Aggregate of $0.355 per Share in Regular Monthly and Supplemental Semi-Annual Cash Dividends in July 2013

Thursday, June 27, 2013

Main Street Paying an Aggregate of $0.355 per Share in Regular Monthly and Supplemental Semi-Annual Cash Dividends in July 2013

07:00 EDT Thursday, June 27, 2013

HOUSTON, June 27, 2013 /PRNewswire/ -- As previously announced on May 13, 2013, Main Street Capital Corporation (NYSE: MAIN) ("Main Street") will pay a special, or supplemental semi-annual, cash dividend of $0.20 per share in July 2013, which is in addition to Main Street's regular monthly dividends of $0.155 per share to be paid in each of July, August and September 2013.  The purpose of this press release is to serve as a reminder with respect to the July 2013 dividend activity and related dates and to avoid potential confusion related thereto.

Main Street's July and August regular monthly and supplemental semi-annual cash dividends will be payable as set forth below to stockholders who hold such shares through the trading day immediately preceding the respective ex-dividend date. 

Summary of July Dividend Activity

Declared

Ex-Dividend Date

Record Date

Payment Date

Amount Per Share

5/8/2013

6/18/2013

6/20/2013

7/15/2013

$0.155

5/13/2013

7/18/2013

7/22/2013

7/26/2013

$0.200

Total payable in July 2013:

$0.355

5/8/2013

7/31/2013

8/2/2013

8/15/2013

$0.155

The July 2013 supplemental semi-annual dividend will be paid out of Main Street's undistributed taxable income (or "spillover income"), or taxable net income in excess of dividends paid, as of June 30, 2013.  As previously discussed in the May 13, 2013 press release, which can be found on Main Street's website at www.mainstcapital.com, Main Street estimates that the supplemental semi-annual dividend represents a payout of approximately one-sixth of Main Street's estimated spillover income as of March 31, 2013.

Based on the regular monthly dividends declared for the third quarter of 2013 and the $0.20 per share supplemental semi-annual cash dividend payable in July 2013, Main Street will have paid $9.96 per share in cumulative dividends since its October 2007 initial public offering. The combination of the current regular monthly dividend rate of $0.155 per share and the current supplemental semi-annual dividend rate of $0.20 per share  equate to annualized cash dividends of $2.26 per share, or an annualized yield of 8.4% based on Main Street's current share price.

ABOUT MAIN STREET CAPITAL CORPORATIONMain Street (www.mainstcapital.com) 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. 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 portfolio. Main Street's lower middle market companies generally have annual revenues between $10 million and $150 million. Main Street's middle market debt investments are made in businesses that are generally larger in size than its lower middle market portfolio companies.

Main Street's common stock trades on the New York Stock Exchange ("NYSE") under the symbol "MAIN." In addition, Main Street has outstanding 6.125% Senior Notes due 2023, which trade on the NYSE under the symbol "MSCA."

FORWARD-LOOKING STATEMENTSThis press release may contain certain forward-looking statements, including but not limited to the amount of estimated spillover income and the declaration and payment of regular or supplemental semi-annual dividends in the future. 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. Such statements speak only as of the time when made, and Main Street undertakes no obligation to update any such statements now or in the future.

Contacts:Main Street Capital CorporationDwayne L. Hyzak, CFO and Senior Managing Directordhyzak@mainstcapital.com 713-350-6000

Dennard-Lascar Associates Ken Dennard  |  ken@dennardlascar.comBen Burnham |  bburnham@dennardlascar.com713-529-6600

SOURCE Main Street Capital Corporation

Products
  • Globe Unlimited

    Digital all access pass across devices. subscribe

  • The Globe and Mail Newspaper

    Newspaper delivered to your doorstep. subscribe

  • Globe2Go

    The digital replica of our newspaper. subscribe

  • Globe eBooks

    A collection of articles by the Globe. subscribe

See all Globe Products

Advertise with us

GlobeLink.ca

Your number one partner for reaching Canada's Influential Achievers. learn more

The Globe at your Workplace
Our Company
Customer Service
Advertising Privacy
Globe Recognition
Mobile Apps
NEWS APP
INVESTING APP
Other Sections