0001396440-23-000128.txt : 20231101 0001396440-23-000128.hdr.sgml : 20231101 20231101072336 ACCESSION NUMBER: 0001396440-23-000128 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 14 CONFORMED PERIOD OF REPORT: 20231101 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20231101 DATE AS OF CHANGE: 20231101 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Main Street Capital CORP CENTRAL INDEX KEY: 0001396440 IRS NUMBER: 412230745 STATE OF INCORPORATION: MD FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 814-00746 FILM NUMBER: 231366566 BUSINESS ADDRESS: STREET 1: 1300 POST OAK BOULEVARD STREET 2: 8TH FLOOR CITY: HOUSTON STATE: TX ZIP: 77056 BUSINESS PHONE: (713) 350-6000 MAIL ADDRESS: STREET 1: 1300 POST OAK BOULEVARD STREET 2: 8TH FLOOR CITY: HOUSTON STATE: TX ZIP: 77056 8-K 1 main-20231101.htm 8-K main-20231101
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
__________________________________________________________________________
FORM 8-K
__________________________________________________________________________
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) November 1, 2023
__________________________________________________________________________
Main Street Capital Corporation
(Exact name of registrant as specified in its charter)
Maryland
001-33723
41-2230745
(State or other jurisdiction
of incorporation)
(Commission File Number)
(IRS Employer Identification No.)
1300 Post Oak Boulevard, 8th Floor, Houston, Texas
77056
(Address of principal executive offices)
(Zip Code)
Registrant's telephone number, including area code:   713-350-6000
Not Applicable
___________________________________________________________________________________
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
o
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading SymbolName of each exchange on which registered
Common Stock, par value $0.01 per shareMAINNew York Stock Exchange
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company o
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o



Item 8.01
Other Events.
On November 1, 2023, the Registrant issued a press release. A copy of such press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

Item 9.01
Financial Statements and Exhibits.
(d) Exhibits
99.1
104Cover Page Interactive Data File (embedded within the Inline XBRL document)



SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Main Street Capital Corporation
Date: November 1, 2023
By:
/s/ Jason B. Beauvais
Name:    Jason B. Beauvais
Title:      General Counsel

EX-99.1 2 main-2023111xexx991.htm EX-99.1 Document

Exhibit 99.1
mainsta.jpg
NEWS RELEASE
Contacts:
Main Street Capital Corporation
Dwayne L. Hyzak, CEO, dhyzak@mainstcapital.com
Jesse E. Morris, CFO and COO, jmorris@mainstcapital.com
713-350-6000
Dennard Lascar Investor Relations
Ken Dennard / ken@dennardlascar.com
Zach Vaughan / zvaughan@dennardlascar.com
713-529-6600

Main Street Announces First Quarter 2024 Regular Monthly Dividends, Including a Monthly Dividend Increase, and Supplemental Dividend Payable in December 2023

Regular Monthly Dividends of $0.24 per Share for each of
January, February and March 2024

Monthly Dividends Represent a 2.1% Increase Compared to Fourth Quarter 2023 and a 6.7% Increase Compared to First Quarter 2023

Supplemental Dividend of $0.275 per Share Payable in December 2023

HOUSTON, November 1, 2023 – Main Street Capital Corporation (NYSE: MAIN) (“Main Street”) is pleased to announce that its Board of Directors declared regular monthly cash dividends of $0.24 per share for each of January, February and March 2024. These monthly dividends, which will be payable pursuant to the table below, total $0.72 per share for the first quarter of 2024 and represent a 2.1% increase from the regular monthly dividends declared for the fourth quarter of 2023 and a 6.7% increase from the regular monthly dividends paid in the first quarter of 2023. Since its October 2007 initial public offering, Main Street has periodically increased the amount of its regular monthly dividends paid per share and has never reduced its regular monthly dividend amount per share.

Summary of First Quarter 2024 Regular Monthly Dividends
DeclaredEx-Dividend DateRecord DatePayment DateAmount Per Share
10/31/20231/4/20241/5/20241/12/2024$0.24
10/31/20232/7/20242/8/20242/15/2024$0.24
10/31/20233/7/20243/8/20243/15/2024$0.24
Total for First Quarter 2024:
$0.72




In addition to the regular monthly dividends for the first quarter of 2024, the Board of Directors declared a supplemental cash dividend of $0.275 per share payable in December 2023. This supplemental cash dividend, which will be payable as set forth in the table below, will be paid out of Main Street’s undistributed taxable income (taxable income in excess of dividends paid) as of September 30, 2023.
Supplemental Cash Dividend Payable in December 2023
DeclaredEx-Dividend DateRecord DatePayment DateAmount Per Share
10/31/202312/19/202312/20/202312/27/2023$0.275

Including all dividends declared to date, including the first quarter 2024 regular monthly dividend and the December 2023 supplemental dividend, Main Street will have paid $39.535 per share in cumulative cash dividends since its October 2007 initial public offering at $15.00 per share. Including the first quarter 2024 regular monthly dividends and the December 2023 supplemental dividend, these most recent dividend declarations represent total dividends to Main Street shareholders of $0.995 per share, representing an annualized current yield of 10.4% based on the closing price of $38.13 per share on October 31, 2023.

The final determination of the tax attributes for dividends each year are made after the close of the tax year. The final tax attributes for 2023 and 2024 dividends are currently expected to include a combination of ordinary taxable income and qualified dividends and may include capital gains and return of capital.

Main Street maintains a dividend reinvestment and direct stock purchase plan (the “Plan”). The dividend reinvestment feature of the Plan (the “DRIP”) provides for the reinvestment of dividends on behalf of Main Street’s registered stockholders who hold their shares with Main Street’s transfer agent and registrar, American Stock Transfer and Trust Company, or certain brokerage firms that have elected to participate in the DRIP. Under the DRIP, if Main Street declares a dividend, registered stockholders who have not “opted out” of the DRIP by the dividend record date will have their dividend automatically reinvested into additional shares of Main Street common stock. The direct stock purchase feature of the Plan (the “DSPP”) provides investors with a convenient and economical method to purchase shares of Main Street common stock. More information about the Plan (including the DSPP prospectus) can be found on the Main Street website (https://ir.mainstcapital.com/dividend-reinvestment-and-direct-stock-purchase-plan).




ABOUT MAIN STREET CAPITAL CORPORATION
Main Street (www.mainstcapital.com) is a principal investment firm that primarily 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 investment strategy. 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, through its wholly owned portfolio company MSC Adviser I, LLC (“MSC Adviser”), also maintains an asset management business through which it manages investments for external parties. MSC Adviser is registered as an investment adviser under the Investment Advisers Act of 1940, as amended.

FORWARD-LOOKING STATEMENTS
This press release may contain certain forward-looking statements, including but not limited to the continued payment and growth of future dividends and the potential tax attributes for 2023 and 2024 dividends. 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 as a result of a number of factors, including those described from time to time in Main Street’s filings with the Securities and Exchange Commission. Such statements speak only as of the time when made and are based on information available to Main Street as of the date hereof and are qualified in their entirety by this cautionary statement. Main Street assumes no obligation to revise or update any such statement now or in the future.

# # #

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Cover
Nov. 01, 2023
Cover [Abstract]  
Document Type 8-K
Document Period End Date Nov. 01, 2023
Entity Registrant Name Main Street Capital Corporation
Entity Incorporation, State or Country Code MD
Securities Act File Number 001-33723
Entity Tax Identification Number 41-2230745
Entity Address, Address Line One 1300 Post Oak Boulevard
Entity Address, Address Line Two 8th Floor
Entity Address, City or Town Houston
Entity Address, State or Province TX
Entity Address, Postal Zip Code 77056
City Area Code 713
Local Phone Number 350-6000
Written Communications false
Soliciting Material false
Pre-commencement Tender Offer false
Pre-commencement Issuer Tender Offer false
Title of 12(b) Security Common Stock, par value $0.01 per share
Trading Symbol MAIN
Security Exchange Name NYSE
Entity Emerging Growth Company false
Entity Central Index Key 0001396440
Amendment Flag false
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