Main Street Issues Reminder Regarding Upcoming Dividend Activity

HOUSTON, May 13, 2014 /PRNewswire/ -- As previously announced on April 22, 2014, Main Street Capital Corporation (NYSE: MAIN) ("Main Street") will pay a supplemental semi-annual cash dividend of $0.275 per share in June 2014, which is in addition to Main Street's previously announced regular monthly cash dividends of $0.165 per share to be paid in each of May, June, July, August and September 2014.  Consistent with prior practice in previous periods with several dividends in close proximity, Main Street is issuing this reminder with respect to its upcoming dividend activity since there are multiple ex-dividend and payment dates in June 2014.

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

Summary of Upcoming Dividend Activity








Declared

Ex-Dividend Date

Record Date

Payment Date

Amount Per Share


2/26/2014

4/16/2014

4/21/2014

5/15/2014

$0.165


2/26/2014

5/16/2014

5/20/2014

6/16/2014

$0.165


4/21/2014

6/18/2014

6/20/2014

6/25/2014

$0.275


5/6/2014

6/26/2014

6/30/2014

7/15/2014

$0.165



Aggregate total payable in May, June and July 2014:

$0.770

(1)


(1)   Additionally, Main Street has previously declared regular monthly dividends of $0.165 per share payable on August 15, 2014 and September 15, 2014 to stockholders of record on July 21, 2014 and August 20, 2014, respectively.


The June 2014 supplemental semi-annual dividend will be paid out of Main Street's undistributed taxable income ("spillover income," or taxable income in excess of dividends paid) as of March 31, 2014.  As previously discussed in the April 22, 2014 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-fourth of Main Street's estimated spillover income as of March 31, 2014.

Based on the regular monthly dividends declared for the second and third quarters of 2014 and the $0.275 per share supplemental semi-annual dividend payable in June 2014, Main Street will have paid $12.45 per share in cumulative dividends since its October 2007 initial public offering. The combination of the current regular monthly dividend rate of $0.165 per share and the current supplemental semi-annual dividend rate of $0.275 per share equate to annualized cash dividends of $2.53 per share, or an annualized yield of 8.4% based on Main Street's current share price. 

ABOUT MAIN STREET CAPITAL CORPORATION

Main 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% Notes due 2023, which trade on the NYSE under the symbol "MSCA."

FORWARD-LOOKING STATEMENTS

This 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 Corporation
Dwayne L. Hyzak, CFO and Senior Managing Director
dhyzak@mainstcapital.com
713-350-6000 

Dennard - Lascar Associates, LLC
Ken Dennard  |  ken@dennardlascar.com
Ben Burnhamben@dennardlascar.com
773-599-3745

 

SOURCE Main Street Capital Corporation



RELATED LINKS
http://www.mainstcapital.com

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