Medallion Financial Corp. (NASDAQ:MFIN) to Issue Quarterly Dividend of $0.14

Key Points

• Medallion Financial declared a quarterly dividend of $0.14 per share, payable November 19 to shareholders of record on November 9. The annualized dividend is $0.56, representing a 4.8% yield.
• The dividend appears well covered, with a current payout ratio of 34.4% and an expected future payout ratio of 40.6% based on analysts’ projected earnings.
• In its latest quarter, Medallion Financial reported $0.10 in EPS, missing the $0.32 consensus estimate, though revenue of $88.89 million exceeded expectations of $63.54 million.

Medallion Financial Corp. (NASDAQ:MFIN - Get Free Report) declared a quarterly dividend on Thursday, October 29th. Shareholders of record on Monday, November 9th will be given a dividend of $0.14 per share by the credit services provider on Thursday, November 19th. This represents a $0.56 dividend on an annualized basis and a yield of 4.8%. The ex-dividend date of this dividend is Monday, November 9th.

Medallion Financial has a payout ratio of 34.4% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Medallion Financial to earn $1.38 per share next year, which means the company should continue to be able to cover its $0.56 annual dividend with an expected future payout ratio of 40.6%.

Medallion Financial Price Performance

Shares of MFIN stock opened at $11.68 on Friday. Medallion Financial has a twelve month low of $7.85 and a twelve month high of $12.26. The company has a quick ratio of 1.21, a current ratio of 1.22 and a debt-to-equity ratio of 0.57. The company has a market cap of $268.17 million, a P/E ratio of 7.84 and a beta of 0.79. The business has a fifty day simple moving average of $11.76 and a 200 day simple moving average of $10.28.

Medallion Financial (NASDAQ:MFIN - Get Free Report) last posted its quarterly earnings data on Thursday, October 29th. The credit services provider reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.22). Medallion Financial had a return on equity of 7.11% and a net margin of 9.25%. The business had revenue of $88.89 million during the quarter, compared to the consensus estimate of $63.54 million. On average, sell-side analysts forecast that Medallion Financial will post 1.15 EPS for the current fiscal year.

About Medallion Financial

Medallion Financial Corp. is a specialty finance company that originates and services loans for taxi medallion owners and operators. Its lending activities have historically focused on financing the purchase and refinancing of taxi medallions, as well as providing loans secured by related commercial assets.

Through its subsidiaries, including Medallion Bank, the company also participates in consumer and commercial lending. Medallion Bank has offered financing for recreational vehicles, boats, home-improvement projects and other consumer purchases, while the company's broader lending operations serve small businesses and transportation-related borrowers.

Founded in 1995 and headquartered in New York, Medallion Financial has built its business around specialized lending markets that are often served by fewer traditional financial institutions.

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