main street capital dividend cut
The increase in non-accruals is likely to hike up leverage levels, which averaged 1.05 times in the fourth quarter of 2019, up from 1.03 and 0.99 times in the third and second quarters for all public BDCs, according to data from BDC Collateral. I have no business relationship with any company whose stock is mentioned in this article. Regular Monthly Dividends 06/30/2020 06/30/2019 % CHG; Last Quarter Ended: $0.615: $0.600: 2.50%: Last 12 Months Ended: $2.460: $2.340: 5.13% Main Street Capital Corporation (NYSE:MAIN) shares haven't seen a lot of action during the second quarter. Watts on why the ‘race issue’ is costing Republicans Black votersJoe Biden's tax policy puts these 16 consumer company stocks at risk: Goldman SachsStock market news live updates: Nasdaq rises as tech shares gain; S&P 500 drifts after touching recordClaflin University President on closing the endowment gap and how HBCUs have been handling COVID-19Gold rush at Turkish bazaar a test of trust for lowly liraSquare Tests New Cash App Feature To Let Users Borrow Up To $200Disappointing Forecast from Cisco Systems Drags Dow Lower Each quarter a BDC values the assets in its portfolios based on its performance and the capacity of the company to repay its debt. Golub and Bain Capital Specialty Finance are both looking to shore up liquidity through equity offerings, according to US Securities and Exchange Commission filings. Main Street Capital Corp has recommended halting its twice-a-year supplemental dividend.The BDCs cited in press statements that their financial decisions reflect the impact of the coronavirus pandemic on market conditions and the vehicles' holdings.Market analysts expect this to be a harbinger of a broader market trend.Spokespeople from Golub Capital BDC and Main Street Capital Corp declined to comment. The firm made the move partially to guard against markdowns, one fund manager said, as stopping its repurchase program will keep more cash on the balance sheet.Spokespeople for Bain and Apollo declined to comment. For Q1 2020, MAIN reported between my base and best-case projections with NII per share of $0.57. This has gotten the company into trouble in the past, as the company has had to cut its dividend. An asset is marked down if that company is underperforming.Golub Capital BDC saw “significant” unrealized valuation deterioration, Chief Executive Officer David Golub said in its earnings estimate.Golub and Bain Capital Specialty Finance are both looking to shore up liquidity through equity offerings, according to US Securities and Exchange Commission filings.
The company just released preliminary Q2 results.Last month I trimmed my position in MAIN for the reasons discussed in this article.As mentioned in previous articles, I'm expecting many Business Development Companies ("BDCs") to report Clearly, the potential for additional or renewed lockdowns related to COVID-19 is a concern driving markets lower, including BDCs that peaked on June 8 (including It's important to note that yields below take into account special/supplemental dividends for 2020.
Main Street distributes dividends monthly and issues a supplemental dividend twice a year. Dividend Leadership. Main Street’s total debt to equity leverage ratio is estimated to be 0.83x while its net debt (total debt less cash and cash equivalents) to equity leverage ratio is estimated to be 0.78x, unchanged from March 31, 2020. NEW YORK, April 16 (LPC) - Business development companies (BDC) feeling the squeeze from the economic shutdown caused by the coronavirus pandemic are likely to pass that pressure onto shareholders over the next two quarters through dividend cuts.BDCs, which invest in small and mid-sized businesses, make distribution payments to shareholders quarterly.
"A BDC’s ability to pay dividends may be further impacted by portfolio markdowns, which can cause liquidity issues.The current market volatility makes markdowns imminent.
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