Medallion Financial Corp. (NASDAQ:MFIN) Announces $0.12 Quarterly Dividend

Medallion Financial Corp. (NASDAQ:MFIN) announced a quarterly dividend on Wednesday, February 18th. Stockholders of record on Thursday, March 19th will be given a dividend of 0.12 per share by the credit services provider on Tuesday, March 31st. This represents a c) dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date is Thursday, March 19th.

Medallion Financial has a dividend payout ratio of 29.4% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Medallion Financial to earn $1.61 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 29.8%.

Medallion Financial Stock Up 0.5%

NASDAQ:MFIN traded up $0.05 during trading hours on Thursday, hitting $10.67. The stock had a trading volume of 8,902 shares, compared to its average volume of 38,802. Medallion Financial has a 1-year low of $7.71 and a 1-year high of $11.00. The company has a current ratio of 1.21, a quick ratio of 1.18 and a debt-to-equity ratio of 0.43. The company has a market cap of $248.49 million, a PE ratio of 6.24 and a beta of 0.77. The business has a 50 day simple moving average of $10.32 and a two-hundred day simple moving average of $10.20.

Medallion Financial (NASDAQ:MFIN) last issued its earnings results on Wednesday, February 18th. The credit services provider reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.09. Medallion Financial had a net margin of 12.12% and a return on equity of 9.28%. The company had revenue of $55.92 million for the quarter, compared to analysts’ expectations of $56.20 million. Analysts predict that Medallion Financial will post 1.46 EPS for the current 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.