ARCC vs MAIN
Two of the most popular business development companies (BDCs) for high income — quarterly versus monthly payout. Here’s how ARCC and MAIN compare for dividend investors — with a calculator for each so you can model the income yourself.
ARCC
Ares Capital Corporation
- Type
- BDC
- Issuer
- Ares Capital
- Pays
- quarterly
Ares Capital is the largest publicly traded business development company (BDC), lending to US middle-market companies. It pays a high quarterly dividend funded by net investment income, and its distributions are generally taxed as ordinary income.
ARCC dividend calculatorMAIN
Main Street Capital Corporation
- Type
- Monthly-paying BDC
- Issuer
- Main Street Capital
- Pays
- monthly
Main Street Capital is a business development company (BDC) that lends to and invests in lower-middle-market private companies. It pays a monthly dividend and has periodically declared supplemental dividends on top of its regular payout.
MAIN dividend calculatorARCC vs MAIN dividend, side by side
Current dividend figures for ARCC and MAIN as of Oct 13, 2026. Yields and payouts change — verify the latest numbers with your broker before investing.
ARCC vs MAIN at a glance
| ARCC | MAIN | |
|---|---|---|
| Management | External: a subsidiary of Ares Management | Internal: staff are Main Street employees |
| How it pays | Quarterly | Monthly, plus a quarterly supplemental |
| Regular dividend | $0.48 a quarter | $0.265 a month |
| Trailing dividend yield | 10.31% (Oct 13, 2026) | 8.16% (Oct 13, 2026) |
| Dividends per share, 2025 | $1.92 | $4.23 |
| Q2 2026 earnings measure | Core EPS $0.47 | Distributable NII $1.04 |
| Q2 2026 dividends | $0.48 | $1.08 |
| Net asset value per share | $19.35 | $33.92 |
| Investments at fair value | $29.35 billion | $5.75 billion |
| Loans on non-accrual (fair value) | 1.4% | 1.1% |
From each company’s second-quarter 2026 results (June 30, 2026), except where noted. Dividends are per share, grouped by ex-dividend date.
ARCC vs MAIN dividend growth by year
| Year | ARCC | MAIN |
|---|---|---|
| 2025 | 0.00% | +2.92% |
| 2024 | 0.00% | +11.23% |
| 2023 | +2.67% | +25.47% |
| 2022 | +15.43% | +14.37% |
Change in total dividends paid per share from the year before, including extra and supplemental dividends. The faster grower each year is marked.
Two BDCs, two business models
Ares Capital and Main Street Capital are both business development companies, or BDCs. They lend to private U.S. companies and pay out most of their income as dividends. Beyond that, they are built quite differently.
Ares Capital is the bigger lender, with $29.35 billion of investments across 619 portfolio investments in mid-2026. It was the largest public BDC by market value, and 59% of its portfolio was first-lien senior loans. It is run from outside by a subsidiary of Ares Management, which it pays to manage the money.
Main Street had $5.75 billion of investments. It lends to and often takes equity stakes in smaller, lower middle market companies, and it also makes private loans. It is managed internally: its staff work for Main Street, so it pays no outside adviser. Main Street puts its operating costs at 1.3% of assets a year.
How they pay: quarterly vs monthly
ARCC pays $0.48 a share four times a year, a rate unchanged since December 2022. MAIN pays a regular dividend every month, $0.265 since July 2026, and has added a $0.30 supplemental dividend in each quarter of 2026.
Over the 12 months to Oct 13, 2026, ARCC yielded about 10.31% and MAIN about 8.16%. On $10,000 that is roughly $1,031 a year from ARCC and $816 from MAIN. MAIN’s shares sold for about 1.6 times its June 30 net asset value of $33.92; ARCC’s sold for about 0.96 times its $19.35.
Dividend growth by year
Main Street has grown its payout faster. Counting supplementals, its total rose from $2.575 a share in 2021 to $4.23 in 2025. ARCC went from $1.62 to $1.92 and has paid exactly $1.92 for three years. MAIN grew faster in 2023, 2024 and 2025, and ARCC in the other 1.
The two were furthest apart in 2023 (25.47% against 2.67%), a gap of 22.80 percentage points. ARCC’s only lead came in 2022 (15.43% against 14.37%), the year it raised its quarterly rate to $0.48 and paid four extra dividends.
Is each dividend safe? Earnings cover and loans
ARCC’s core earnings were $0.47 a share in the second quarter of 2026, a cent below its $0.48 dividend. Its net asset value fell from $19.94 at the end of 2025 to $19.35. Loans on non-accrual, where borrowers have stopped paying as agreed, were 1.4% of the portfolio at fair value and 2.4% at cost.
Main Street earned $1.04 a share of distributable net investment income in the quarter. That covers its $0.78 of regular monthly dividends with room left over, but not the full $1.08 once the supplemental is added. Its net asset value rose to $33.92, and an early estimate put it at $34.18 to $34.26 for September, its 17th quarterly rise in a row. Non-accruals were 1.1% at fair value and 4.0% at cost.
Cut history
ARCC cut its quarterly dividend once, in 2009, from 42 cents to 35 cents a share, and has not lowered the regular rate since. Main Street says it has never reduced its regular monthly dividend since going public in 2007. Its supplemental dividends are extras and can change.
Company figures come from each BDC’s SEC filings for the second quarter of 2026 and Main Street’s October 2026 estimate. Dividend histories come from the researched ARCC and MAIN guides, which follow each company’s own dividend table. Last checked Oct 16, 2026. Sources: SEC — ARCC second-quarter 2026 results (Jul 29, 2026); SEC — Main Street second-quarter 2026 results (Aug 6, 2026); SEC — Main Street preliminary third-quarter 2026 results (Oct 15, 2026); SEC — Main Street annual report for 2025; Ares Capital — dividend history; Main Street Capital — dividends. Past returns do not predict future ones. Not financial advice.
Related dividend guides
How ARCC and MAIN differ
ARCC — Ares Capital is the largest publicly traded business development company (BDC), lending to US middle-market companies. It pays a high quarterly dividend funded by net investment income, and its distributions are generally taxed as ordinary income.
MAIN — Main Street Capital is a business development company (BDC) that lends to and invests in lower-middle-market private companies. It pays a monthly dividend and has periodically declared supplemental dividends on top of its regular payout.
In practice the choice comes down to your goal. ARCC suits an investor who wants high income from private-credit (BDC) exposure, taxed as ordinary income, while MAIN suits one who wants high income from private-credit (BDC) exposure, taxed as ordinary income. The two are not mutually exclusive — plenty of portfolios hold a growth-oriented fund and an income-oriented one together. What matters is matching each to its job and not judging a fund on its headline yield alone.
Rather than compare a single snapshot yield (which moves daily), open each calculator and enter current figures: the ARCC calculator and the MAIN calculator. To compare long-term compounding head to head, run the same contributions through the dividend reinvestment calculator with each fund’s assumptions.
ARCC vs MAIN FAQ
- Does Warren Buffett own Ares Capital stock?
- No. Berkshire Hathaway’s holdings report for June 30, 2026 does not list Ares Capital.
- Is MAIN a safe dividend stock?
- No dividend is guaranteed, and this page does not give advice. Main Street’s earnings covered its regular monthly dividend in mid-2026, and it has never cut that regular rate. Its supplemental dividends could shrink if earnings fall.
- Which pays more, ARCC or MAIN?
- By yield, ARCC: about 10.31% against 8.16% on a trailing basis as of Oct 13, 2026. Per share MAIN pays more, but its shares cost more too.
- What ARCC or MAIN stake pays $1,000 a month?
- At those trailing yields, about $116,392 in ARCC or $147,059 in MAIN, before taxes. BDC dividends are mostly taxed as ordinary income.
- What's the main difference between ARCC and MAIN?
- ARCC is a bdc from Ares Capital; MAIN is a monthly-paying bdc from Main Street Capital. Two of the most popular business development companies (BDCs) for high income — quarterly versus monthly payout.
- Does ARCC or MAIN pay more dividends?
- As of Oct 13, 2026, ARCC yields about 10.31% and MAIN about 8.16%, so ARCC currently pays the higher yield. ARCC pays quarterly; MAIN pays monthly + supplementals. Yields move daily, so verify current figures and use the calculators below to model the income yourself. Higher-yield funds pay more today, while dividend-growth funds start lower and raise the payout over time.
- Which is better, ARCC or MAIN?
- Neither is universally better — they suit different goals. ARCC fits an investor who wants high income from private-credit (BDC) exposure, taxed as ordinary income; MAIN fits one who wants high income from private-credit (BDC) exposure, taxed as ordinary income. Match the fund to your objective, time horizon, and tax situation, and consider a licensed advisor.
- Can I hold both ARCC and MAIN?
- Many investors do, to blend current income with growth. Just be aware of overlap — if both hold similar large-cap US stocks, you may be less diversified than the two tickers suggest.