MAIN vs USB: Dividend Comparison
Dividend data as of
Main Street Capital Corporation (MAIN) and Us Bancorp De (USB) are both in the Financials sector, making them natural rivals for dividend investors. MAIN offers a significantly higher 4.83% yield compared to USB's 3.37%, a gap of 1.46%. For dividend growth, MAIN leads with a 5-year CAGR of 7.7% versus USB's 3.8%. USB holds the edge in dividend safety with a "Safe" rating. USB is a Dividend Contender with 15 years of consecutive increases.
Verdict
Yield Analysis
MAIN yields 1.46% more than USB. In dollar terms, MAIN pays $3.00/share vs USB's $2.04/share annually.
Dividend Growth
MAIN: Dividend growth is accelerating — the 3-year CAGR of 14.2% exceeds the 5-year rate of 7.7% and the 10-year rate of 5.8%.
USB: Dividend growth is slowing — the 3-year CAGR of 2.8% trails the 5-year rate of 3.8% and the 10-year rate of 7.4%.
Dividend Safety
MAIN: The payout ratio of 70% is moderate. The dividend is currently covered by earnings but leaves less room for growth. Earnings cover the dividend 2.0x.
USB: The payout ratio of 44% is well within sustainable levels, leaving room for future increases. Earnings cover the dividend 2.3x.
Estimated Annual Dividend Income
Based on current dividend yields. Actual income may vary.
What does $10,000 buy in MAIN vs USB today?
At $59.60 per share, $10,000 buys about 167.8 shares of Main Street Capital Corporation (MAIN). Each share pays $3.00 per year in dividends, so the position starts out generating roughly $503 per year — about $42 a month.
At $57.63 per share, $10,000 buys about 173.5 shares of Us Bancorp De (USB). Each share pays $2.04 per year in dividends, so the position starts out generating roughly $354 per year — about $30 a month.
MAIN is the larger income stream from day one: $149 per year more on the same $10,000 invested.
What could $10,000 of MAIN or USB income look like in 10 years?
Main Street Capital Corporation (MAIN) has raised its dividend about 7.7% a year over the past five years. If that pace held, the $483 per year that $10,000 generates today at the current 4.83% yield would reach $1,011 per year by 2036 — a 10.1% yield on the original cost.
Us Bancorp De (USB) has raised its dividend about 3.8% a year over the past five years. If that pace held, the $337 per year that $10,000 generates today at the current 3.37% yield would reach $487 per year by 2036 — a 4.9% yield on the original cost.
On those trailing rates, MAIN pays more in 2036: $1,011 versus $487 per year. The projection assumes each five-year growth rate persists and no dividends are reinvested — real payouts will differ.
When would USB's dividend growth overtake MAIN's higher yield?
It doesn't, on the trailing numbers. Main Street Capital Corporation (MAIN) yields more today (4.83% vs 3.37%) and has also grown its dividend at least as fast (7.7% vs 3.8% a year over five years). Unless USB accelerates its raises or MAIN stumbles, USB never closes the income gap — MAIN wins on both current income and growth.
Can MAIN and USB afford their dividends?
Main Street Capital Corporation (MAIN) earns $6.04 per share against $3.00 paid out in dividends — 2.0x coverage (a 70% payout ratio).
Us Bancorp De (USB) earns $4.62 per share against $2.04 paid out in dividends — 2.3x coverage (a 44% payout ratio).
Coverage is similar for both, so neither dividend looks meaningfully more stretched than the other on current earnings.
Which fits an early-retirement income portfolio better, MAIN or USB?
For income you need right now, Main Street Capital Corporation (MAIN) leads: $100,000 invested today pays about $403 a month at the current 4.83% yield, versus $281 a month from Us Bancorp De (USB) at 3.37%.
MAIN also leads on dividend growth (7.7% vs 3.8% a year over five years), so the trailing numbers favor it on both fronts.
On consistency: USB has raised its dividend 15 consecutive years.
Many income investors simply hold both — the mix pairs current yield with growth and spreads single-name risk. Whichever way you lean, dividends are never guaranteed; recheck the payout each quarter rather than setting and forgetting.
$10,000 with DRIP: projected annual income
If each holding keeps raising its dividend at its real 5-year rate and every payment is reinvested, a $10,000 position pays $1,621/yr in MAIN vs $679/yr in USB by year 10.
Assumes dividends are reinvested at the current yield and grow at each holding's trailing 5-year dividend CAGR. A projection, not a prediction — no price appreciation modeled.
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