Main Street sees Q2 distributable NII $1.11-$1.13, consensus 99c

In commenting on the company’s operating results for the second quarter of 2023, Dwayne Hyzak, Main Street’s CEO, stated, “We are very pleased with our performance in the second quarter, which resulted in new quarterly records for net investment income per share, distributable net investment income per share and net asset value per share for the fourth consecutive quarter and a return on equity of over 18%. These results demonstrate the continued and sustainable strength of our overall platform, the benefits of our differentiated and diversified investment strategies, the unique contributions of our asset management business and the underlying strength and quality of our portfolio companies.” Hyzak continued, “Our distributable net investment income in the second quarter exceeded the monthly dividends paid to our shareholders by over 60% and the total dividends paid to our shareholders by over 20%, allowing us to deliver significant value to our shareholders while still conservatively retaining a meaningful portion of our income. Based upon the continued strength of our performance in the second quarter, we expect another meaningful supplemental dividend to be paid in the third quarter of 2023, which would represent our eighth consecutive quarterly supplemental dividend, to go with the five increases to our regular monthly dividends in the same time period.”