Medallion Financial Corp. (MFIN) to Distribute Quarterly Dividend of $0.14 on August 31st

Medallion Financial Corp. (NASDAQ:MFIN) declared a quarterly dividend on Tuesday, July 28th. Shareholders of record on Monday, August 17th will be paid a dividend of 0.14 per share by the credit services provider on Monday, August 31st. This represents a c) dividend on an annualized basis and a yield of 4.9%. The ex-dividend date is Monday, August 17th.

Medallion Financial has a payout ratio of 34.4% indicating that its dividend is sufficiently covered by earnings. Analysts expect Medallion Financial to earn $1.52 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 36.8%.

Medallion Financial Price Performance

Shares of MFIN stock opened at $11.48 on Friday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.22 and a quick ratio of 1.21. The company has a market capitalization of $263.58 million, a PE ratio of 8.63 and a beta of 0.78. The firm’s 50-day moving average is $10.11 and its two-hundred day moving average is $9.74. Medallion Financial has a 12 month low of $7.85 and a 12 month high of $11.57.

Medallion Financial (NASDAQ:MFIN) last posted its quarterly earnings results on Wednesday, July 29th. The credit services provider reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.02. The business had revenue of $84.38 million during the quarter, compared to analysts’ expectations of $58.98 million. Medallion Financial had a net margin of 9.25% and a return on equity of 7.11%. Analysts predict that Medallion Financial will post 1.15 earnings per share for the current year.

About Medallion Financial

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.