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Dividend Increases For The High-Yield BDC Sector, Part 4: Main Street Capital

Published Tue, 26 Feb 2019 17:01:13 -0500 on Seeking Alpha

Business development companies, or BDCs, are almost halfway through reporting calendar year-end results, and this article discusses some of the items that investors should be watching when Main Street Capital (MAIN) reports later this week.
Sources: SEC filings and bdcbuzz.com.
Previous MAIN Article Follow-Up:

This article is a follow-up to "This High-Yielding, Sleep-Well Investment Is About To Announce A Dividend Increase" from July 2018 that mentioned:
I am predicting another monthly dividend increase to $0.195 per month to be announced before the company reports earnings on August 2, 2018
On August 1, 2018, MAIN announced another monthly dividend increase to $0.195 per month.
Part 3 Follow-Up:
The previous article "Dividend Increases For The High-Yield BDC Sector: Part 3" predicted increased special dividends for TPG Specialty Lending (TSLX). Subsequently, TSLX announced a special/supplemental dividend of $0.12 per share payable in March 2019.
Through earnings generated across full year 2018, we declared a total of $0.31 per share of supplemental dividend while increasing net asset value per share pro forma for the impact of supplemental dividend from $16.06 to $16.13 per share, this represents a 5% increase in dividend declared year-over-year and a 20% increase in total dividends over the full annual base dividend of $1.56.
Source: Q4 2018 TSLX Earning Call
Part 2 Follow-Up:
The previous article "Dividend Increases For The... Read more

Stock name Last trade   P/E Earnings/Share Dividend/Share Dividend yield
MONROE CAPITAL 10.48   18.4 0.57 1.40 13.60
THL CREDIT 6.96   0.0 -0.86 0.84 12.09
PENNANTPARK INVESTMENT 6.32   21.8 0.29 0.72 11.32
KOHLBERG CAPITAL 3.75   0.0 -0.25 0.40 11.05
PROSPECT CAPITAL 6.71   16.8 0.40 0.72 10.76
APOLLO INVESTMENT 16.78   14.2 1.18 1.80 10.73
TCP CAPITAL 13.75   29.3 0.47 1.44 10.48
OAKTREE SPECIALTY LENDING 4.90   0.0 -1.39 0.50 10.02
HERCULES TECH GROWTH CAP 13.26   10.0 1.32 1.28 9.55
GOLDMAN SACHS BDC 20.29   22.5 0.90 1.80 8.88
GLADSTONE CAPITAL 9.50   63.3 0.15 0.84 8.84
ARES CAPITAL 19.19   10.5 1.82 1.60 8.39
GOLUB CAPITAL BDC 18.55   15.7 1.18 1.28 6.89
GLADSTONE INVESTMENT 12.34   7.4 1.67 0.82 6.73
MEDLEY CAPITAL 2.61   0.0 -1.62 0.15 5.81
SPDR BARCLAYS CAPITAL HIGH YIELD BOND ETF 108.94   0.0 0.00 6.07 5.58
ISHARES IBOXX $ HIGH YIELD CORPORATE BOND FUND 87.32   0.0 0.00 4.60 5.27

MONROE CAPITAL - MRCC
MONROE CAPITAL - MRCC  


Older articles featuring Monroe Capital (MRCC):
TCG: Why I Bought Carlyle Group's BDC Currently Yielding 21%
BDCs Continue To Affirm Dividends: Capital Southwest At 15%
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High Yield: Owning BDCs During The Crisis
Quick BDC Market Update: 18% Average Yield But Continued Volatility
147 Broker Favored Financial Service Equities With Yields Priced Right
These Dividend Stocks Are The New 'Bonds' For Retirement Portfolios
The Big Boys Continue To Pile Into This Dividend Sector: Owl Rock Capital
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