Main Street Capital Corp. (MAIN) - BDC mit sicherer Dividendenrendite?! (Seite 19)
eröffnet am 05.01.16 13:26:33 von
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ID: 1.223.967
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ISIN: US56035L1044 · WKN: A0X8Y3 · Symbol: MAIN
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Letzter Kurs 21:46:04 NYSE
Werte aus der Branche Finanzdienstleistungen
| Wertpapier | Kurs | Perf. % |
|---|---|---|
| 1,4400 | +60,00 | |
| 1,3100 | +24,76 | |
| 0,5300 | +17,78 | |
| 41,56 | +16,35 | |
| 4,5000 | +15,38 |
| Wertpapier | Kurs | Perf. % |
|---|---|---|
| 5,1500 | -11,21 | |
| 3,9500 | -11,24 | |
| 1,3300 | -13,36 | |
| 1,8775 | -14,17 | |
| 0,5900 | -29,76 |
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Was ist denn bei MAIN los? Meine Bank hat mir gerade alle Dividenden von 07.2016 bis 12.2016 storniert und neu ausbezahlt. Habe in allen Monaten rund 13% mehr erhalten als bei der ursprünglichen Zahlung letztes Jahr.
Mit Business Development Companies hohe monatliche Dividenden kassieren
▸ Kissigs Kolumne vom 19. Dezember 2016, Aktien Magazin 34/2016
Im Fokus: Gladstone Capital und Main Street Capital
Eine Business Development Company (BDC) ist ein in den USA tätiger Finanzinvestor für kleine und mittlere nicht-börsennotierte Unternehmen. BDCs stellen etablierten Unternehmen sowie Startups Kapital zur Verfügung. Die geschieht entweder in Form von Eigenkapital, so dass die BDC Miteigentümerin wird, oder durch Fremdkapital als nachrangige Kredittitel...
>>> zum Artikel
▸ Kissigs Kolumne vom 19. Dezember 2016, Aktien Magazin 34/2016
Im Fokus: Gladstone Capital und Main Street Capital
Eine Business Development Company (BDC) ist ein in den USA tätiger Finanzinvestor für kleine und mittlere nicht-börsennotierte Unternehmen. BDCs stellen etablierten Unternehmen sowie Startups Kapital zur Verfügung. Die geschieht entweder in Form von Eigenkapital, so dass die BDC Miteigentümerin wird, oder durch Fremdkapital als nachrangige Kredittitel...
>>> zum Artikel
Main Street Capital: Big Yield, Diversified Risks
- Main Street Capital is an attractive Business Development Company (BDC) that offers a big 6.9% dividend yield.
- And if you factor in the semiannual supplemental dividends, the yield climbs to nearly 9.0%.
- We believe Main Street offers significant price appreciation potential with relatively low volatility as well as important diversification benefits.
- If you are an income-focused investor, it’s worth a closer look.
weiterlesen...
- Main Street Capital is an attractive Business Development Company (BDC) that offers a big 6.9% dividend yield.
- And if you factor in the semiannual supplemental dividends, the yield climbs to nearly 9.0%.
- We believe Main Street offers significant price appreciation potential with relatively low volatility as well as important diversification benefits.
- If you are an income-focused investor, it’s worth a closer look.
weiterlesen...
Main Street Capital Earnings: Good Enough
Hold the applause, and save your complaints: Main Street Capital's first quarter was no ground-breaker, but it was no back-breaker, either.
Main Street Capital (NYSE: MAIN) reported generally OK results in the first quarter. The company worked out one troubled investment it shares with Gladstone Investments (NASDAQ: GLAD), among other business development companies, while reporting a mixed bag of ups and downs in its portfolio.
This quarter by the numbers
A BDC's net income is equal to its operating income plus its capital gains or losses. I like to break these two measures apart, as I think the separate statistics give investors a better understanding of how a company performed in terms of recurring operating income and more volatile below-the-line gains and losses.
A simple rule is that operating income serves as a good measure of earnings and dividend-paying power over the short-term, but over the long haul, a BDC's capital gains and losses are just as important. Like many BDCs, Main Street recently felt the impact of investment impairments on its book value, which fell about 3% per share year-over-year.
Movers and shakers
We're getting further along in the credit cycle, and BDC balance sheets are starting to show it. Where non-accrual rates were once near zero, they are now creeping up into the low single digits. A handful of Main Street's smaller investments are showing some issues, just as others rise in value, partially picking up the slack.
This quarter brought some more certainty to portfolio company Targus, a small investment on Main Street's books, but a frequently appearing stain on balance sheets across the industry. Gladstone Investments' filings note that Targus was restructured in the first quarter, resulting in new debt and equity securities for creditors which included Gladstone and Saratoga, in addition to Main Street Capital.
Some of Main Street's lower middle-market investments are headed in the wrong direction. The combined valuations of Mid-Columbia, Houston Plating, L.F. Manufacturing, and Gulf Manufacturing fell by about $6 million (or roughly $0.12 per Main Street Capital share) this quarter. This group was previously identified by looking at the dividend income laggards in Main Street's full-year 2015 results, and will be important to watch going forward.
But just as some companies were marked down, others were written up. Portfolio companies GRT Rubber and Travis Acquisition enjoyed a combined $5.3 million increase to their carrying values this quarter, or about $0.11 cents per share.
The ups and downs across Main Street's entire 198-company portfolio net out to about $0.26 per share in realized and unrealized capital losses this quarter. As for its outsize positions in energy-related investments, it appears the easy losses have been accounted for, though it remains something of a wait-and-see issue as to whether those just barely hanging on can live long enough to see higher energy prices return.
Big win: More low-cost capital
Main Street Capital makes its money primarily from the spread between what it pays to borrow, and what it charges its own borrowers. Thus, reducing its funding costs are every bit as important as maximizing its investment returns.
The company announced getting the green light to add a third Small Business Investment Company (SBIC) license under its umbrella, which will enable it to borrow up to $125 million in 10-year debt financing at rates that were as low as 2.5% in March. That's the benefit of being on the good side of the Small Business Administration, whose SBIC program is a boon for BDCs that invest in small businesses. (Believe it or not, 10-year money from the SBIC is actually less expensive than what Main Street is currently paying on its bonds that mature in less than four years.)
Main Street Capital earned its dividend from net investment income, and reported relatively minor changes in its portfolio value during the first quarter. Given worse performance from many of its peers over much longer time frames, its first quarter performance was simply good enough to keep investors happy.
QUELLE
Hold the applause, and save your complaints: Main Street Capital's first quarter was no ground-breaker, but it was no back-breaker, either.
Main Street Capital (NYSE: MAIN) reported generally OK results in the first quarter. The company worked out one troubled investment it shares with Gladstone Investments (NASDAQ: GLAD), among other business development companies, while reporting a mixed bag of ups and downs in its portfolio.
This quarter by the numbers
A BDC's net income is equal to its operating income plus its capital gains or losses. I like to break these two measures apart, as I think the separate statistics give investors a better understanding of how a company performed in terms of recurring operating income and more volatile below-the-line gains and losses.
A simple rule is that operating income serves as a good measure of earnings and dividend-paying power over the short-term, but over the long haul, a BDC's capital gains and losses are just as important. Like many BDCs, Main Street recently felt the impact of investment impairments on its book value, which fell about 3% per share year-over-year.
Movers and shakers
We're getting further along in the credit cycle, and BDC balance sheets are starting to show it. Where non-accrual rates were once near zero, they are now creeping up into the low single digits. A handful of Main Street's smaller investments are showing some issues, just as others rise in value, partially picking up the slack.
This quarter brought some more certainty to portfolio company Targus, a small investment on Main Street's books, but a frequently appearing stain on balance sheets across the industry. Gladstone Investments' filings note that Targus was restructured in the first quarter, resulting in new debt and equity securities for creditors which included Gladstone and Saratoga, in addition to Main Street Capital.
Some of Main Street's lower middle-market investments are headed in the wrong direction. The combined valuations of Mid-Columbia, Houston Plating, L.F. Manufacturing, and Gulf Manufacturing fell by about $6 million (or roughly $0.12 per Main Street Capital share) this quarter. This group was previously identified by looking at the dividend income laggards in Main Street's full-year 2015 results, and will be important to watch going forward.
But just as some companies were marked down, others were written up. Portfolio companies GRT Rubber and Travis Acquisition enjoyed a combined $5.3 million increase to their carrying values this quarter, or about $0.11 cents per share.
The ups and downs across Main Street's entire 198-company portfolio net out to about $0.26 per share in realized and unrealized capital losses this quarter. As for its outsize positions in energy-related investments, it appears the easy losses have been accounted for, though it remains something of a wait-and-see issue as to whether those just barely hanging on can live long enough to see higher energy prices return.
Big win: More low-cost capital
Main Street Capital makes its money primarily from the spread between what it pays to borrow, and what it charges its own borrowers. Thus, reducing its funding costs are every bit as important as maximizing its investment returns.
The company announced getting the green light to add a third Small Business Investment Company (SBIC) license under its umbrella, which will enable it to borrow up to $125 million in 10-year debt financing at rates that were as low as 2.5% in March. That's the benefit of being on the good side of the Small Business Administration, whose SBIC program is a boon for BDCs that invest in small businesses. (Believe it or not, 10-year money from the SBIC is actually less expensive than what Main Street is currently paying on its bonds that mature in less than four years.)
Main Street Capital earned its dividend from net investment income, and reported relatively minor changes in its portfolio value during the first quarter. Given worse performance from many of its peers over much longer time frames, its first quarter performance was simply good enough to keep investors happy.
QUELLE
Antwort auf Beitrag Nr.: 51.833.431 von gergeo am 25.02.16 11:12:37
Ja, die Auswahl von soliden, substanzhaltigen Aktien und die nötige Geduld, diese langfristig zu halten und sich so den Zinseszinseffekt zunutze zu machen, das ist das erfolgversprechendste Anlagekonzept.
Zitat von gergeo: Mit Dividendentiteln kann man steinreich werden. Wer in jungen Jahren sein Geld in dividendenstarke Titel anlegt und breit streut, der kann gar nichts falsch machen, auch wenn ein Investment mal schief geht. Main Street Capital, Gladstone, Aurelius, Allianz, usw. sind gute Beispiele für gelungenes Anlegen. So hab ich beispielsweise Anfang der 70er für knapp 3.000 DM 100 Stück BASF gekauft. Dank eines Aktiensplitts besitze ich heute 1.000 BASF-Aktien. Ob die Börse steigt oder fällt, mir ist es egal, die werden vererbt. Und wer mag, darf ja bei Erfolg auch ein bisschen "spielen", macht ja auch Spass.
Ja, die Auswahl von soliden, substanzhaltigen Aktien und die nötige Geduld, diese langfristig zu halten und sich so den Zinseszinseffekt zunutze zu machen, das ist das erfolgversprechendste Anlagekonzept.
Trading Spotlight
Antwort auf Beitrag Nr.: 51.824.752 von sirmike am 24.02.16 14:18:49
Es wurde auch noch im Juni eine Sonderdividende von $0,275 ausgeschüttet und wenn man diese mit berücksichtigt, läge die Jahresdividendenrendite bezogen auf einen Aktienkurs von €25 sogar bei 9,85%.
Zitat von sirmike: Artikel auf iNTELLiGENT iNVESTiEREN...
Main Street Capital zahlt weiterhin 0,18 Dollar Monatsdividende
Die Business Development Company (BDC) Main Street Capital Corp. (NYSE: MAIN) hat heute ihre Dividendenausschüttungen für die nächsten drei Monate bekanntgegeben. Danach wird es auch für März, April und Mai konstante Monatsausschüttungen von $0,18 geben, was zu einer annualisierten Dividendenrendite von knapp 8% führt. Allerdings gab es in den vergangenen Jahren stets eine Sonderdividende im Dezember in Höhe von $0,275, so dass dann die Dividendenrendite 8,85% betrüge.
Ausgeschüttet werden die Dividenden an folgenden Tagen:
15.04. / Ex-Dividendentag ist der 17.03.
16.05. / Ex-Dividendentag ist der 19.04.
15.06. / Ex-Dividendentag ist der 18.05.
Main Street Capital befindet sich auf meiner Empfehlungsliste und in meinem Depot.
Es wurde auch noch im Juni eine Sonderdividende von $0,275 ausgeschüttet und wenn man diese mit berücksichtigt, läge die Jahresdividendenrendite bezogen auf einen Aktienkurs von €25 sogar bei 9,85%.
Antwort auf Beitrag Nr.: 51.824.752 von sirmike am 24.02.16 14:18:49
Dividendenstrategie
Mit Dividendentiteln kann man steinreich werden. Wer in jungen Jahren sein Geld in dividendenstarke Titel anlegt und breit streut, der kann gar nichts falsch machen, auch wenn ein Investment mal schief geht. Main Street Capital, Gladstone, Aurelius, Allianz, usw. sind gute Beispiele für gelungenes Anlegen. So hab ich beispielsweise Anfang der 70er für knapp 3.000 DM 100 Stück BASF gekauft. Dank eines Aktiensplitts besitze ich heute 1.000 BASF-Aktien. Ob die Börse steigt oder fällt, mir ist es egal, die werden vererbt. Und wer mag, darf ja bei Erfolg auch ein bisschen "spielen", macht ja auch Spass.
Artikel auf iNTELLiGENT iNVESTiEREN...
Main Street Capital zahlt weiterhin 0,18 Dollar Monatsdividende
Die Business Development Company (BDC) Main Street Capital Corp. (NYSE: MAIN) hat heute ihre Dividendenausschüttungen für die nächsten drei Monate bekanntgegeben. Danach wird es auch für März, April und Mai konstante Monatsausschüttungen von $0,18 geben, was zu einer annualisierten Dividendenrendite von knapp 8% führt. Allerdings gab es in den vergangenen Jahren stets eine Sonderdividende im Dezember in Höhe von $0,275, so dass dann die Dividendenrendite 8,85% betrüge.
Ausgeschüttet werden die Dividenden an folgenden Tagen:
15.04. / Ex-Dividendentag ist der 17.03.
16.05. / Ex-Dividendentag ist der 19.04.
15.06. / Ex-Dividendentag ist der 18.05.
Main Street Capital befindet sich auf meiner Empfehlungsliste und in meinem Depot.
Main Street Capital zahlt weiterhin 0,18 Dollar Monatsdividende
Die Business Development Company (BDC) Main Street Capital Corp. (NYSE: MAIN) hat heute ihre Dividendenausschüttungen für die nächsten drei Monate bekanntgegeben. Danach wird es auch für März, April und Mai konstante Monatsausschüttungen von $0,18 geben, was zu einer annualisierten Dividendenrendite von knapp 8% führt. Allerdings gab es in den vergangenen Jahren stets eine Sonderdividende im Dezember in Höhe von $0,275, so dass dann die Dividendenrendite 8,85% betrüge.
Ausgeschüttet werden die Dividenden an folgenden Tagen:
15.04. / Ex-Dividendentag ist der 17.03.
16.05. / Ex-Dividendentag ist der 19.04.
15.06. / Ex-Dividendentag ist der 18.05.
Main Street Capital befindet sich auf meiner Empfehlungsliste und in meinem Depot.
Instant Analysis: Main Street Capital’s 4th Quarter
Is Main Street Capital the one to beat?
What happened?
The top-performing BDC has historically pre-announced its year-end earnings expectations. Of the BDCs that have pre-announced, it appears that Main Street Capital's (NYSE:MAIN) results may be among the best in the fourth quarter.
Does it matter?
Certainly -- all earnings reports matter.
weiterlesen...
Is Main Street Capital the one to beat?
What happened?
The top-performing BDC has historically pre-announced its year-end earnings expectations. Of the BDCs that have pre-announced, it appears that Main Street Capital's (NYSE:MAIN) results may be among the best in the fourth quarter.
Does it matter?
Certainly -- all earnings reports matter.
weiterlesen...
Main Street Capital's Dividend Sustainability And Projection Analysis (Pre Q4 2015 Earnings)
Summary
- From continued requests by readers, this article analyzes MAIN’s near-term dividend sustainability by performing three tests based on historical and future quarterly results.
- The first two tests will analyze MAIN’s net ICTI and cumulative UTI which are based on IRC methodologies.
- The third test will focus on the probability of MAIN continuing to provide special periodic dividends in the future.
- It is important for investors to understand the difference between MAIN’s NII and net ICTI regarding reliable dividend sustainability metrics/projections.
- Summarized results from the three tests performed within this analysis, including a projection for MAIN’s next set of dividend declarations, are stated within the “Conclusions Drawn” section of the article.
Author's Note: This article is a detailed look at Main Street Capital Corp.'s (NYSE:MAIN) "near-term" dividend sustainability. I have performed this analysis due to the growing number of readers who have specifically requested such an analysis be periodically performed on MAIN. For readers who just want the summarized conclusions/results, I would suggest to scroll down to the "Conclusions Drawn" section at the bottom of the article.
weiterlesen...
Summary
- From continued requests by readers, this article analyzes MAIN’s near-term dividend sustainability by performing three tests based on historical and future quarterly results.
- The first two tests will analyze MAIN’s net ICTI and cumulative UTI which are based on IRC methodologies.
- The third test will focus on the probability of MAIN continuing to provide special periodic dividends in the future.
- It is important for investors to understand the difference between MAIN’s NII and net ICTI regarding reliable dividend sustainability metrics/projections.
- Summarized results from the three tests performed within this analysis, including a projection for MAIN’s next set of dividend declarations, are stated within the “Conclusions Drawn” section of the article.
Author's Note: This article is a detailed look at Main Street Capital Corp.'s (NYSE:MAIN) "near-term" dividend sustainability. I have performed this analysis due to the growing number of readers who have specifically requested such an analysis be periodically performed on MAIN. For readers who just want the summarized conclusions/results, I would suggest to scroll down to the "Conclusions Drawn" section at the bottom of the article.
weiterlesen...
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