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 (annualized $0.48), payable May 21 to shareholders of record on May 11, a 16.7% increase that results in about a 6.0% yield.
• The dividend appears well supported with a payout ratio around 29% and analysts forecasting $1.65 EPS next year (implying a similar low future payout ratio).
• The company recently missed quarterly estimates, reporting $0.20 EPS vs. $0.25 expected and $54.06M revenue vs. $56.15M, while trading with a market cap of roughly $218M and a P/E near 5.3.

Medallion Financial Corp. (NASDAQ:MFIN - Get Free Report) declared a quarterly dividend on Wednesday, April 29th. Stockholders of record on Monday, May 11th will be given a dividend of 0.14 per share by the credit services provider on Thursday, May 21st. This represents a c) dividend on an annualized basis and a dividend yield of 6.0%. The ex-dividend date is Monday, May 11th. This is a 16.7% increase from Medallion Financial's previous quarterly dividend of $0.12.

Medallion Financial has a payout ratio of 29.4% meaning its dividend is sufficiently covered by earnings. Research analysts expect Medallion Financial to earn $1.65 per share next year, which means the company should continue to be able to cover its $0.48 annual dividend with an expected future payout ratio of 29.1%.

Medallion Financial Stock Performance

Shares of MFIN stock opened at $9.27 on Thursday. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.21 and a quick ratio of 1.20. Medallion Financial has a fifty-two week low of $7.85 and a fifty-two week high of $11.00. The stock's 50-day moving average is $9.27 and its two-hundred day moving average is $9.82. The firm has a market cap of $218.12 million, a P/E ratio of 5.32 and a beta of 0.84.

Medallion Financial (NASDAQ:MFIN - Get Free Report) last released its quarterly earnings data on Wednesday, April 29th. The credit services provider reported $0.20 EPS for the quarter, missing analysts' consensus estimates of $0.25 by ($0.05). The firm had revenue of $54.06 million during the quarter, compared to analyst estimates of $56.15 million. Medallion Financial had a return on equity of 9.38% and a net margin of 12.18%. Analysts predict that Medallion Financial will post 1.43 earnings per share for the current fiscal year.

Medallion Financial Company Profile

Medallion Financial Corporation is a specialty finance company that provides asset-based lending solutions to small and mid-sized businesses in the United States. The company's core business activities include secured loans collateralized by business assets such as insurance premiums, commercial real estate, maritime assets and portfolio receivables. Through its insurance premium finance division, Medallion offers short-term loans that allow policyholders to spread insurance costs over multiple payments, while its portfolio financing arm provides funding against a borrower's existing asset portfolios.

Founded in 1998 and headquartered in Minneapolis, Minnesota, Medallion Financial originally established itself in the taxi medallion lending market, extending loans secured by New York City cab medallions.

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