Medallion Financial Corp. (NASDAQ:MFIN) Plans Dividend Increase - $0.11 Per Share

Medallion Financial Corp. (NASDAQ:MFIN - Get Free Report) announced a quarterly dividend on Tuesday, October 29th, NASDAQ reports. Investors 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 dividend on an annualized basis and a yield of 4.65%. The ex-dividend date 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 22.2% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Medallion Financial to earn $1.80 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 22.2%.

Medallion Financial Trading Up 1.0 %

NASDAQ:MFIN traded up $0.09 during midday trading on Thursday, hitting $9.46. The stock had a trading volume of 70,925 shares, compared to its average volume of 91,969. The stock has a 50-day moving average of $8.20 and a 200 day moving average of $8.05. The company has a market capitalization of $219.18 million, a price-to-earnings ratio of 5.60 and a beta of 2.14. Medallion Financial has a one year low of $6.48 and a one year high of $10.14. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 0.55.

Medallion Financial (NASDAQ:MFIN - Get Free Report) last released its quarterly earnings data on Tuesday, October 29th. The credit services provider reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.01. Medallion Financial had a return on equity of 10.35% and a net margin of 14.97%. The firm had revenue of $77.00 million during the quarter, compared to the consensus estimate of $52.88 million. During the same period in the previous year, the company posted $0.48 earnings per share. As a group, sell-side analysts forecast that Medallion Financial will post 1.49 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded Medallion Financial from a "hold" rating to a "buy" rating in a report on Monday.

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.