Thu, May 7, 4:23 PM
- Q1 net investment income of $23.5M or $0.51 per share vs. $26.3M and $0.59 in Q4. Distributable net investment income of $24.8M or $0.54. Regular quarterly dividend is $0.525. Company issued 4.4M shares in March.
- Net increase in net assets from operations of $35.4M or $0.77 per share vs. $0.49 in Q4.
- Net asset value of $21.87 per share vs. $20.85 at start of quarter.
- Completed $47.1M in total lower middle market portfolio investments, including $35.2M in two new portfolio companies. Net increase of $82.1M in middle market portfolio investments. Net increase of $37.5M in private loan portfolio investments.
- Conference call tomorrow at 10 ET
- Previously: Main Street Capital misses by $0.01, beats on total investment income (May 7)
- MAIN flat after hours
Thu, May 7, 4:10 PM| Comment!
Wed, May 6, 12:42 PM
- What suspiciously looks like the cracking of a major government debt bubble in Europe continues to affect the U.S., where the 10-year Treasury yield is up five more basis points today to 2.24% - its highest level of 2015.
- German 10-year yields are up another 7 bps to 0.59% - two weeks ago, they were 0.05%.
- Italian and Spanish 10-year yields have now about doubled since mid-March, but are still under 2%.
- Income favorites have struggled as rates have gone higher and the BDCs are particularly hard-hit today: Prospect Capital (PSEC -2.5%), Ares Capital (ARCC -1.6%), FS Investment (FSIC -1.3%), Main Street (MAIN -1.4%), Apollo Investment (AINV -3.6%), Triangle (TCAP -2.1%), PennantPark Investment (PNNT -1.4%), KCAP Financial (KCAP -1.5%).
- Earlier, Prospect Capital declared dividends of $0.083 per share for May, June, July, and August - inline with previous.
- ETFs: BDCL, BDCS, BIZD
Wed, May 6, 7:41 AM
- Main Street Capital (NYSE:MAIN) declares $0.175/share monthly dividend, in line with previous.
- Forward yield 6.76%
- Payable July 15; for shareholders of record July 1; ex-div June 29.
- Payable Aug. 14; for shareholders of record July 21; ex-div July 17.
- Payable Sep. 15; for shareholders of record Aug. 20; ex-div Aug. 18.
Thu, Apr. 30, 7:07 AM
Tue, Apr. 28, 7:12 AM
- Main Street Capital (NYSE:MAIN) made an initial investment in CHMB in October 2008, and made additional investments subsequent to that.
- This month, all MAIN's debt investment was repaid, and equity and warrant positions redeemed. The company realized a gain of about $3.3M on the equity and warrants, and an IRR of about 17% on all investments.
- Source: Press Release
Thu, Apr. 23, 7:55 AM
Tue, Mar. 10, 9:05 AM| 13 Comments
Mon, Mar. 9, 4:39 PM
Thu, Feb. 26, 4:18 PM
- Q4 net investment income of $26.3M or $0.59 per share vs. $22.8M or $0.57 one year ago. Full-year NII of $95.5M or $2.20 per share up 27% from 2013. The monthly dividend was just hiked to $0.175 per share.
- Net increase in net assets from operations of $0.49 per share vs. $0.53 one year ago.
- Net asset value per share of $20.85 up 5% Y/Y, up 8% if excluding the effect of the $0.55 in special dividends paid in 2014.
- Operating expenses of 1.4% of average total assets down 40 bps from a year ago, and leads the industry.
- Completed $85.1M of portfolio investments. Net decrease of $400K in middle market portfolio investments. Net increase of $35.5M in private loan portfolio investments.
- Conference call at 10 ET
- Previously: Main Street Capital beats by $0.01, beats on total investment income (Feb. 26)
- MAIN flat after hours
Thu, Feb. 26, 4:07 PM| 4 Comments
Wed, Feb. 25, 5:35 PM
- ABTL, ADSK, AEGR, AHT, AIRM, AL, APEI, ARUN, AVD, BCEI, BIO, BLOX, CERS, CLNE, CROX, CSU, CUBE, DGI, ECOL, ECPG, ENOC, ENV, EVC, EVHC, GPS, HLF, HPTX, IM, IMMR, JCP, KBR, KND, LYV, MAIN, MDRX, MENT, MITT, MNST, MTZ, MVNR, NMBL, NOG, NVAX, OLED, OUT, OVTI, PE, PEGA, PFMT, PKT, PODD, PSIX, RBA, RMTI, ROST, RP, RPTP, RRMS, SB, SBAC, SEMG, SGM, SPLK, SRC, SREV, SWN, SZYM, TPC, TUBE, TUMI, TWOU, UHS, UIL, UNXL, VGR, WIFI, WTR, WTW
Wed, Feb. 25, 8:08 AM
- Main Street Capital (NYSE:MAIN) declares $0.175/share monthly dividend, 2.9% increase from prior dividend of $0.17.
- Forward yield 6.85%
- Payable April 15; for shareholders of record Mar. 31; ex-div Mar. 27.
- Payable May 15; for shareholders of record April 21; ex-div April 17.
- Payable June 15; for shareholders of record May 20; ex-div May 18.
Wed, Feb. 25, 7:27 AM
- As hinted last month, Main Street Capital (NYSE:MAIN) hikes its dividend, with the monthly rate for Q2 going to $0.175 per share from $0.17 currently.
- The annualized yield is 6.85%.
- Source: Press Release
- Previously: Main Street sees strong Q4 and Q1 and boosted dividend this year (Jan. 20)
Tue, Feb. 10, 7:43 AM
Tue, Feb. 3, 3:44 PM
- Lower interest rates hadn't really helped one of income players' favorite sectors as they were accompanied by the plunge in oil prices, and worry about what blowups were lurking in BDC portfolios.
- So even with the 10-year Treasury yield higher by 11 basis points to 1.78% today, oil's now more than 20% run higher in the past few sessions looks to be easing some of those credit concerns, and alongside the rally in BDCs is a nice move higher in junk bonds (HYG +0.6%), (JNK +0.6%).
- BDC ETFs: BDCL, BDCS, BIZD
- Individual names: Prospect Capital (PSEC +2.3%), Fifth Street Finance (FSC +3%), FS Investment (FSIC +1.6%), Main Street Capital (MAIN +2.4%), Apollo Investment (AINV +3%), Triangle Capital (TCAP +2.7%), TICC Capital (TICC +3%), PennantPark Investment (PNNT +3.8%), THL Credit (TCRD +3.5%), Golub Capital (GBDC +1.9%).
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