Before the pandemic, extra dividends felt like free money falling from the sky. Unfortunately, I didn’t track them the way I do now. Rookie mistake.
One company that has quietly done the heavy lifting for years is Main Street Capital (MAIN). We’ve held it forever, so the price appreciation has been the slow-and-steady kind. The real magic is the dividend machine. Current yield sits around 7.5%, and they still hand out those supplemental checks in March, June, September — and hopefully also December.
This September the extras land like this:
- CCAP: $0.03 on September 15
- FDUS: $0.07 on September 29
- MAIN: $0.30 on September 28
- OBDC: $0.02 on September 15
For our holdings that adds up to just over $1,200 in pure supplemental cash. Not life-changing, but it’s the kind of quiet compounding that makes the “boring” BDC portfolio feel a little less boring.
I’m actually quite grateful for these extras right now. Because of the shift we made earlier this year (more growth, less pure dividend stocks), our regular dividend income has taken a noticeable hit. These supplemental payments from the BDCs help soften the blow.
Anyone else getting these September extras, or am I the only one still mildly annoyed I didn’t pay closer attention back in 2019?
I first wrote about the downward revision of our 2026 dividend expectations back in April, after we started shifting some capital out of pure dividend stocks: