Medallion Financial Corp. (NASDAQ:MFIN) Declares Dividend Increase – $0.11 Per Share

Medallion Financial Corp. (NASDAQ:MFIN) declared a quarterly dividend on Friday, October 25th,NASDAQ Dividends reports. Shareholders of record on Friday, November 15th will be paid a dividend of 0.11 per share by the credit services provider on Wednesday, November 27th. This represents a $0.44 annualized dividend and a yield of 4.52%. The ex-dividend date of this dividend is Friday, November 15th. This is an increase from Medallion Financial’s previous quarterly dividend of $0.10.

Medallion Financial has a dividend payout ratio of 24.7% meaning its dividend is sufficiently covered by earnings. Research analysts expect Medallion Financial to earn $1.78 per share next year, which means the company should continue to be able to cover its $0.44 annual dividend with an expected future payout ratio of 24.7%.

Medallion Financial Price Performance

Shares of MFIN opened at $9.73 on Thursday. The stock has a market capitalization of $224.47 million, a PE ratio of 5.76 and a beta of 2.12. The company has a 50 day moving average price of $8.55 and a 200-day moving average price of $8.17. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.18 and a current ratio of 1.18. Medallion Financial has a fifty-two week low of $6.48 and a fifty-two week high of $10.19.

Medallion Financial (NASDAQ:MFIN) last announced its earnings results on Tuesday, October 29th. The credit services provider reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.01. The business had revenue of $77.00 million for the quarter, compared to analysts’ expectations of $52.88 million. Medallion Financial had a return on equity of 9.52% and a net margin of 13.72%. During the same quarter last year, the firm earned $0.48 EPS. Equities analysts predict that Medallion Financial will post 1.48 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered shares of Medallion Financial from a “buy” rating to a “hold” rating in a research note on Friday, November 8th.

About Medallion Financial

Medallion Financial Corp., together with its subsidiaries, operates as a specialty finance company in the United States. It operates in four segments: Recreation Lending, Home Improvement Lending, Commercial Lending, and Taxi Medallion Lending. The company offers loans that finance consumer purchases of recreational vehicles, boats, and other consumer recreational equipment; consumer financing for window, siding, and roof replacement, swimming pool installations, and other home improvement projects; senior and subordinated loans for the purchase of equipment and related assets necessary to open a new business, or purchase or improvement of an existing business; and taxi medallion loans to individuals and small to mid-size businesses.