Since I sold yesterday I had money burning a hole in my account. And I’m a pretty good saver till money gets in my account. I suppose that’s a good thing.
So since I had extra money from the sell, I decided to start looking and wasn’t to concerned about which month it goes to.
Main Street Capital Corp. is a business development company that invests in lower middle market companies with strong management teams, stable positive cash flows, strong competitive advantages with a proven market position, revenues of $10 – $150 million and EBITDA of $3 – $20 million located in North America. The fund targets companies operating in the fields of consumer discretionary, energy, financials, health care, industrials, materials, technology, telecommunications and transportation. It provides debt, equity and warrant financing for growth, management buyouts, recapitalizations, refinancing, expansion & growth capital, family estate planning and acquisitions. It makes investments in the range of $5 to $75 million.
As I was looking I had the perfect stock on my portfolio already. So I pulled the plug on 60 shares of Main. This is my second buy of main this 60 shares adds 11.1 dollars a month to each month. This brings my monthly total to 17.59 a month and yearly total before drip to 211.12 dollars a year.
I am long Main and not a professional stock picker so do your own research before buying.