Stock Purchase – MAIN
Main Street Capital Corporation (MSCC) is a principal investment firm which provides customized debt and equity financing to lower middle market (LMM) companies and debt capital to middle market (Middle Market) companies.
[stock_ticker symbols=”MAIN” show=”symbol” static=”1″]
DIV Yield: 6.82%
P/E Ratio: 14.58
Since I now own 77 shares, this will make my portfolio’s projected annual net dividend income $166.32 (not including the special dividend months).
That increase rises my YOC to 7.3%.
Dividend History
MAIN has been paying steady monthly dividends since January 2009. They are decently consistent on raising the dividend every year, with one or two blemishes and currently sits at 18¢ a share. You can see their entire dividend history here.
For the last two years, they have been paying a special dividend of 0.275 cents a share on the 6th and 12th month of the year. I will not be basing my calculations with the special dividend and will just assume the regular dividend.
Stock Purchase – MAIN Transactions
| 2015-11-11 | Bought: 10 shares of MAIN at $30.35 per share: | $ | 303.50 |
| 2015-12-14 | Dividend on 10 shares at 18¢ per share: | $ | 1.80 |
| 2015-12-24 | Dividend on 10 shares at 0.275¢ per share | $ | 2.75 |
| 2015-12-28 | Bought 10 shares of MAIN at $29.95 per share | $ | 299.50 |
| 2015-12-30 | Bought 10 shares of MAIN at $29.25 per share | $ | 292.50 |
| 2016-01-13 | Bought 2 shares of MAIN at $28.10 per share | $ | 56.20 |
| 2016-01-15 | Dividend on 10 shares at 0.18¢ per share | $ | 1.80 |
| 2016-01-20 | Bought 15 shares of MAIN at $26.50 per share | $ | 397.50 |
| 2016-02-01 | Bought 5 shares of MAIN at $28.25 per share | $ | 141.25 |
| 2016-02-17 | Dividend on 32 shares at 18¢ per share: | $ | 5.76 |
| 2016-03-15 | Dividend on 52 shares at 18¢ per share: | $ | 9.36 |
| 2016-04-15 | Dividend on 52 shares at 18¢ per share: | $ | 9.36 |
| 2016-04-28 | Bought 25 shares of MAIN at $31.38 per share | $ | 784.50 |
| Total Capital Invested | $ | 2,274.95 | |
| Total Dividends Received: | $ | 30.83 |
As of the time of this post, I’m currently up 5.97% on my capital on top of the dividends I have received. Not bad for a Dividend Beginner!
Stock Purchase – MAIN
Conclusion:
Perhaps I bought too high this time, but with the special dividend coming out and the fact that I wanted to increase my Beginner Dividend Portfolio to begin with, it seemed like a right call to begin with. Next time, I will wait until MAIN manages to dip below $30 a share.
Click here to see my portfolio holdings.