5 Best Monthly Dividend Stocks to Buy in June

4. Main Street Capital Corporation (NYSE:MAIN)

Number of Hedge Fund Holders: 9
Dividend Yield as of June 7: 6.74%

Main Street Capital Corporation (NYSE:MAIN) is a Texas-based principal investment firm that provides debt and equity capital to lower and middle-market companies. In Q1 2022, the company reported solid results, posting a net investment income of $52.2 million, up from $39.7 million recorded in the same period last year. Its total investment income of $79.4 million showcased a 26.4% year-over-year growth.

On May 3, Main Street Capital Corporation (NYSE:MAIN) declared a monthly dividend of $0.215 per share, consistent with the previous dividend. Along with this, the company also announced a supplemental dividend of $0.075 per share, payable to shareholders on June 30. The inclusion of this special dividend takes the company’s payout ratio to 94%. As of June 7, the stock’s dividend yield came to be recorded at 6.74%.

In March, Hovde Group initiated its coverage on Main Street Capital Corporation (NYSE:MAIN) with a Market Perform rating and a $44 price target.

At the end of Q1 2022, 9 hedge funds in Insider Monkey’s database were bullish on Main Street Capital Corporation (NYSE:MAIN), the same as in the previous quarter. The collective value of these stakes stood at over $48.4 million, up from nearly $32 million worth of stakes held by hedge funds in Q4 2021. Millennium Management held the largest position in the company at the end of March 2022, with stakes valued at roughly $17.8 million.