MAIN Dividend

Although MAIN has a dividend of 0.26 with an ex-dividend date of Feb 6, you can sell covered calls on Main Street Capital Corporation to create 12 extra dividend type payments per year to boost its yield. Let's look at some recent prices (last updated Fri 4:16 PM ET):

Main Street Capital Corporation (MAIN)
Bid	Ask	Last	Change	Volume	P/E	Market Cap
61.20	61.45	61.19	-1.01	590K	10	5.6B

MAIN Dividend-Like Income Using Covered Calls

With MAIN at 61.19, here's a table showing how big the annual "dividend" (i.e. total annual call premium received) would need to be to attain 3%, 5%, and 10% annual yields. Also shown is the equivalent number of cents/day necessary to achieve each yield:

Annual Yield	Annual Premium	Cents/Day
3%	1.84	0.5
5%	3.06	0.8
10%	6.12	1.7

So now we need to find out of the money covered calls that pay at least the prescribed cents/day amount of time premium. That will generate income and, because they are out of the money, leave room for some upside potential on the stock. Here are some examples:

3% Yield On MAIN Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Jun 18	64.70	1.20	161	0.7	3.25 (5.3%)
Feb 20	64.70	0.35	43	0.8	3.25 (5.3%)

5% Yield On MAIN Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Mar 20	64.40	0.75	71	1.1	2.95 (4.8%)

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