Main Street Capital

MAIN

Market cap $5.22B

Despite the high price-to-book value, and despite the relatively low dividend yield (for a Business Development Company), Main Street Capital Corporation's business is no bubble. To the contrary, it's a fundamentally different type of BDC with steady book value gains (while peers stay flat—or worse). It also has steady dividend growth trajectory, powerful supplemental dividends, and many other attractive qualities that set it apart.

There is a major market disconnect in which there are blue-chip dividend payers offering 11%+ yields right now, despite posting strong fundamentals. I discuss why the market is bearish on these stocks and why I think the fears are overblown. I also share two high-yield stocks that I think are attractive buys at current pricing.

Most dividend stocks only pay investors on a quarterly basis. Most corporate bonds and government Treasury bonds only pay interest payments semi-annually. Passive income paid monthly is a perfect way to help with monthly expenses and other costs.

Invests $27.2 Million in The Nearshore Company to Support Strategic Acquisition HOUSTON , Nov. 19, 2025 /PRNewswire/ -- Main Street Capital Corporation (NYSE: MAIN) ("Main Street") is pleased to announce that it recently completed a new portfolio investment totaling $27.2 million in The Nearshore Company ("TNC") to facilitate its acquisition of the Carmi Companies ("Carmi" and, together with TNC, the "Company"). Main Street's investment in the Company included a combination of first-lien, senior secured term debt and a direct minority equity investment.

November's monthly screen brings us 25 more interesting names to consider for further due diligence, and 5 of those that we'll take a closer look at. We have a variety of names making the list this month, including a BDC, a beaten-down consumer staples company and an energy play. A couple of these this month look like they are interesting value plays for a market that looks otherwise highly stretched.

Invests $47.0 Million in Recapitalization of a Franchisee of Swim Schools HOUSTON , Nov. 18, 2025 /PRNewswire/ -- Main Street Capital Corporation (NYSE: MAIN) ("Main Street") is pleased to announce that it recently completed a new portfolio investment totaling $47.0 million to facilitate the minority recapitalization of a leading swim school franchisee (the "Company"). Main Street partnered with the Company's existing owners and management team to facilitate the transaction, with Main Street's investment including a combination of first lien, senior secured term debt and a direct minority equity investment.

MSC Income Fund, Inc. offers an attractive blend of high income and undervaluation, trading at a 15–16% discount to NAV. MSIF's dividend yield approaches 11%, with dividends well covered by net investment income and low nonaccruals, supporting income reliability. The portfolio is focused on private, sponsor-backed loans, maintaining conservative leverage and benefiting from lower expenses and insider confidence.

The Fed's dovishness has been the key driver for the BDC sell-off. The idea is that lower interest rates should lead to lower dividends (i.e., BDCs cutting their dividend across the board). While it is a process that takes time, the current data show that many BDCs are well-positioned to safeguard their existing dividends.

Third  Quarter 2025 Net Investment Income of $0.35 Per Share Net Asset Value of $15.54 Per Share HOUSTON , Nov. 13, 2025 /PRNewswire/ -- MSC Income Fund, Inc. (NYSE: MSIF) ("MSC Income" or the "Fund") is pleased to announce its financial results for the third quarter ended September 30, 2025. Third Quarter 2025 Highlights Net investment income ("NII"), including excise tax and NII related income taxes, of $16.6 million, or $0.35 per share NII before taxes(1) of $17.0 million, or $0.36 per share Total investment income of $35.4 million Net increase in net assets resulting from operations of $26.5 million, or $0.56 per share Return on equity(2) of 14.6% on an annualized basis for the quarter and 11.6% for the trailing twelve-month period ended September 30, 2025 Net asset value of $15.54 per share as of September 30, 2025 Declared a regular quarterly dividend of $0.35 per share and a supplemental quarterly dividend of $0.01 per share, both payable in the fourth quarter of 2025, resulting in total dividends declared in the third quarter of 2025 of $0.36 per share Completed $74.6 million in total private loan portfolio investments, which after aggregate repayments of debt investments and a decrease in cost basis due to realized losses resulted in a net decrease of $6.7 million in the total cost basis of the private loan investment portfolio Completed $6.0 million in total lower middle market ("LMM") portfolio follow-on investments, which after aggregate repayments of debt investments, return of invested equity capital and a decrease in cost basis due to a realized loss resulted in a net decrease of $2.6 million in the total cost basis of the LMM investment portfolio In commenting on the Fund's operating results for the third quarter of 2025, Dwayne L.

BDCs have had a rough year so far. Yet, Q3 earnings data points indicate that the tide could be turning. While there are some tangible improvements in BDC business environment, many risks remain open.